"out of touch as usual - when that runs out, it is necessary to have the Middle East supply 'on tap' and safely out of the hands of others..." - Foolestroupe

I think that it's you that's out of touch F. The price of crude oil today hit 82US$ per barrel. Now the prediction within the industry is that oil will never get down to the 22US$ - 25US$ the minimum that Russia and Saudi Arabia need. That's important Foolestroupe because you see as long as it stays above about 35US$ per barrel, shale and oilsands production is financially attractive. Without Canada, the US are sitting on over 400 years supply of the stuff. Now, tell me if I'm wrong, but when it comes to having a supply of oil 'on tap' and safely out of the hands of others - you can't get it better, or more secure, than that.

"Those who do no learn from history are condemned to repeat it!"

And when was the last time OPEC held the world to ransom Foolestroupe? I would say since 1973 we learned our lessons rather well.