Barons Article on oil Price forecast

[Orindakid]

Hi Dan,
I would like your thoughts on this.
BARRONS.com - Get Ready for the Great Oil Bust of 2017
http://www.barrons.com/articles/get-rea ... 8Kb6pTM%3D

Thanks

[dan_s]

Note that he says the oil price collapse will happen in the 2nd half of 2017. No one will remember that he said this if the oil price goes higher. Also, note that four of our Elite Eight are among his long-term holdings. BTW the article points out why I have been pounding on you guys to have most of your energy sector portfolio in large, well-capitalized companies like our Sweet 16.

My view is that if OPEC members comply with their agreement, the price of oil will go up.
No matter where oil prices go, I see only a modest increase in U.S. oil production. My SWAG is 300,000 to 400,000 BOPD increase in 2017 oil production from where production is today. With demand for oil going up more than a million barrels per day each year, this will not have a big impact on prices.

Of course, we could have a global recession or aliens attack the earth. In that case, all bets are off.

[dan_s]

My current view on where oil and gas prices are heading can be found in my weekly podcast. You can view it anytime from the EPG home page after you log on.