bruce28 Nov 2014 16:10
Perhaps so. we have been here before though. You turn on the telly and you will get information overload on oil politics. For my sins I worked in the field and then a bank in the days when peaople did not find a need to rhyme with banker :). I have spent a lot of time in places where sadly I can now no longer go. The politics is unreal and beyond analysing by most imo.FWIW imo the 2000 lb gorilla in the room is Iran who slowly but surely is beginning to find a way i from isolation and years of sanctions much to shagrin of its neighbours and not so near neighbours. If I was going back to work in the region I would happily go back there over Iraq or for hat matter Syria, obviously, Libya or even Algeria anyday. Venezuela its sad but if they want help they will have to change and the US will be in there like a shot. Russia well Putin is playing a high stakes game but I don't think OPEC is worying too much even if Russia has been signing a lot of gas deals with China. The way I see it is that the producers have had us the consumers by the b#lls for the best part of a decade which has seen renewables, efficiency and alternatives such as shale allowed into the mix. You only have to look around the Gulf to see that the boys have done good very good over this time. The smart ones have used the boom to diversify. Now I am afraid it may well be the turn of the big producers that were unable to participate.sadly for the "old" boys these guys dont need a high price per barrel to break even. FTO is not an oil producer we should feel relieved. I think