a few things to keep in mind on the oil and gas front. although oil and gas may come out of the same hole, the economics of each are far different. oil is transportation based, natural gas is electricity and heating based. with that in mind, think about the following. canada has vast deposits of oil sands which are being processed into heavy oil. that oil is sent to cushing, oklahoma where only a few refineries can take advantage of it. there are currently over eight refineries being upgraded and expanded to process the heavy oil. when these refineries come back on line, several others will go down for upgrading and expansion of capacity. the inventory reports for cushing only include light sweet crude so someday a report will come out with lots of product and the same amount of crude. the news is always best just before the bust. i have witnessed three booms and two busts. it never seems to fail that when the housing is expanding and at the peak, the oil patch busts carrying the housing market with it.
i just returned from a little trip around the western edge of oklahoma city. entire farms are being turned into housing developments. there aren’t nearly the jobs to support that many new houses and when the oil and gas boom busts, lots of folks will simply walk away just like they did in the 1980’s.
do some research on the heavy oil sands of alberta and saskatchewan. i think you may get a real eye opener. there is a lot more oil in north america (canada) than most people realize. all it needs is new technology to produce and refine it. the refinery technology is already in place. when the production and transportation problems are solved, auto and truck fuel will go to half its current price. the cost to produce heavy crude is currently just above $36. bbl.
do a search on enbridge (enbrige??) pipeline for transportation.
hope this is of some help.
rno