Thursday, January 7, 2010

No Downward Correction in Energy during 2010; Markets Will Set Permanent New Floor Prices by Year End

January 7, 2010

Senior energy industry executive Karl W. Miller announced today through his advisors, that he does not see any major risk of Oil or Natural Gas prices materially receding by end of 2010, despite any errant forecast correction in the broader markets. The Energy industry is consolidating and 2010 will be a year that major industry market participants position their portfolios for the next 20-30 years, thus making prices somewhat immune to broader market issues.

Due to the consolidation and reserve plays currently underway, Mr. Miller believes that the Energy markets will set sustainable new price floors to the upside, and prices will only rise further during 2010 for a variety of fundamental, weather, and industry consolidation related reasons. For further reference Mr. Miller suggest reading the following analysis:

Why the U.S. Natural Gas Industry is NOT in a State of Permanent Excess Supply

http://www.stockhouse.com/Blogs/ViewDetailedPost.aspx?p=9......

And

Because You Asked: The Biggest Risk for Oil and Gas Companies Emerging from DC in 2010 is tax, not hydro-fracking or CO2

http://www.stockhouse.com/Blogs/ViewDetailedPost.aspx?p=9......


Disclosure: Long U.S. Energy Companies

Related Stocks: CHK, DVN, APC, APA, OXY, EOG, CVX, XTO, XOM, MRO, BP

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