Energy Prospectus

Thank you for your latest View. I must take exception with one point you made. Egypt is now, and likely to be in the future, in much better shape since the military overthrew the Morsi government. While "purists" like our lead-from-behind president might wring their hands because a legally elected gov't was kicked out, the new Egypt bodes well for the future. The military won't let the Muslim Brotherhood ever raise their heads again. This helps Israel, of course, but also Jordan, Saudi Arabia and the Emirates. It is probable that Iraq and Syria will remain in major turmoil unless we elect a Republican president. Even then it might be too late to keep them from being failed states.

You should load up on TGA if you like Egypt. If things settle down there, TGA has a bright future.

The global energy market needs a stable Iraq. All long-range forecasts see Iraq as a major source of new supply. I sure don't see a stable Iraq anytime soon.

Egypt is not a significant oil exporting country.