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Message: Bin Alwaleed says we will never see $100 oil again

Some Saudi prince says that if the supply glut remains and the demand remains low, the price will keep going down. We will never see $100 oil again.

Only problem that I see with that statement is that demand won't remain that low. when the price of a litre of gas goes down, people will start driving more, industry will consume more, there will be more vehicles on the road like trucks that are not fuel efficient. This is the cycle. Then world instability in some oil producing region will cause the price to spike again.

We just have to wait it out and buy more as you can afford to.

With SGY cutting the dividend to preserve the balance sheet, SGY will survive. The danger might be in trying to buy assets at these prices and paying too much for them. Some boards get greedy at the wrong time, and the debt could sink an otherwise healthy ship.

Time to be prudent right now. 6 months from now? that may be the time to swallow some of the fish in the sea.

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