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Steve Forbes contradicts oil price claim in latest investor newsletter |
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Written by r5e
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Thursday, 01 September 2005 |
 Seems that there is different advice being offered to certain parties about the prices of oil.
01.09.05
Steve Forbes contradicts oil price claim in latest investor
newsletter
Greens Senator Kerry Nettle today accused Steve Forbes, host
of the CEO
conference at the Opera House, of playing deceptive games with
the
Australian public over oil price claims.
Steve Forbes told the
Prime Minister and media on Tuesday that oil
prices will come back down to
around $35 a barrel within a year, and
that high prices are a speculation
'bubble'. Overnight his investor
newsletter has advised the opposite.
The subscriber only Forbes Professional Timing Service states:
"THE MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS"
"expect to
see crude move to $65.00 this summer and to $76.00 by early
next
year."
"..the so-called terror premium in crude prices - which will
remain
until we see at least three years of peace in the fertile
crescent".
And,
"We are at the point where the rubber hits the
road, and the only
rationing mechanism for whomever gets the available supply
will be
higher prices."
"What is Mr Forbes up to? It appears
he is telling the Australian
public and decision makers not to taking the
spike in oil prices
seriously, whilst telling his investors that the spike is
a great profit
making opportunity," Senator Nettle said.
"Mr Forbes
public comments appear to be about discouraging steps to
address the coming
peak oil crisis, a crisis he admits as real to his
investors.
"Steve
Forbes is treating Australians with contempt. He should apologise
for his
deliberate deception.
"Australians should be worried if the Prime
Minister is taking advice
from the likes of Steve Forbes on an issue as vital
as the looming
energy crisis. This embarrassing incident underlines
the
untrustworthiness of Mr Forbes' advice.
"The Prime Minister should
be listening to those who advocate investment
in renewable energy and energy
conservation measures which are in the
long term interests of this
country."
Contact - Jon Edwards 0428 213 146
EXCERPT FROM
FORBES NEWSLETTERS PROFESSIONAL TIMING SERVICE OVERLEAF...
1 September
2005 12:28:37 AM
FORBES NEWSLETTERS PROFESSIONAL TIMING SERVICE
THE
MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS
There are four major
opportunities concerning crude oil, gold, stocks,
and bonds that will make
and break millionaires during the next 24
months.
First: Too late to
buy oil? Not on your life!
A couple of years ago when oil was trading at
$16.00 to $20.00 a barrel,
I pointed out the ground floor investment
opportunity developing in oil.
We openly recommended Enerplus Resources
(ERF-NYSE) in our publications.
It was trading at $17.00 or less then and was
paying a dividend of about
1.25% - MONTHLY. That amounted to 15% a year.
After a brief correction
this spring, crude oil is once again trading solidly
over $55.00 a
barrel. Enerplus is trading over $35.00, a dynamic double
from our
original recommendation. It is too late to chase Enerplus, and there
are
better buys out there that are yet to be discovered by the Street.
I
will tell you about one presently, but first ...
Opportunity #1 -
An exceptional second chance to buy energy stocks.
The first of four
major opportunities you will encounter this summer -
which is also the
biggest money making opportunity I have seen since
crude oil was $20.00 - is
to take advantage of the recent correction in
the energy sector and buy some
energy stocks. You may be skeptical about
this - as investors were when we
told them to "mortgage the house and
buy stocks" in the spring of 1982.
Nevertheless, here it is.
Oil and natural gas are on their way to
significantly higher levels. I
expect to see crude move to $65.00 this
summer and to $76.00 by early
next year. However, you can still buy select
oil and gas producers that
pay 11% to 15% dividends - and they pay monthly.
It doesn't get better
than that.
There are many reasons to invest now
in oil and gas. Unrest in the
Middle East and the so-called terror premium in
crude prices - which
will remain until we see at least three years of peace
in the fertile
crescent - are two reasons. I think that will be a long time
coming.
Now, Iran (a major world supplier) is making the news as a safe
haven
for terrorists as well as a nuclear threat.
Venezuela (the
fourth largest supplier of U.S. crude oil) is becoming
our avowed enemy.
There is renewed strife in Nigeria. The lion's share
of the world's crude is
being produced from wells far beyond their
prime, and some sources estimate
that for every 2 to 4 barrels a day
consumed, only 1 new barrel is being
brought on line.
There is a major shortfall between supply and demand,
and this shortfall
is growing on a monthly basis. World demand increased 2.5
million
barrels a day over the last year due to increased demand in the U.S.
and
Asia. India and China are industrializing at a feverish pace, and
their
energy appetite is increasing exponentially. China is
aggressively
expanding their infrastructure and their military, and they
are
developing an enormous strategic oil reserve that will be much
bigger
than ours. Mushrooming global consumption will easily be 86 MBD or
more
by the end of this year.
On the other hand, global production is
very close to a peak, and there
is no longer any near term "excess"
production capacity left.
Knowledgeable sources estimate that world
production will never - that's
NEVER - exceed 90 million barrels a day
(MBD). With one exception -
which we discuss in our updated special report
Oil - Slam Dunk Investing
For Income And Capital Gains - Updated -
alternative energy of any
import is years in the future. We are at the point
where the rubber
hits the road, and the only rationing mechanism for whomever
gets the
available supply will be higher prices.
(Source - The Australian Greens Media Release mailing list)
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Last Updated ( Thursday, 08 September 2005 )
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