Oil looks poised to go HIGHER

Just a feeling and I am looking at some longer term oil plays the last few days.

I was reading the Chairman tonight and he was recapping one of the Barron’s weekend calls . I agree with the qoute he chose:

“China is still using only 6.5 million barrels of oil per day. We are using 20 million barrels per day here in the United States. China is 25% of the world population. The Chinese are getting off bicycles. They want air conditioning. They are getting [better] housing. If China slows, it would just be a bump in the road. Oil-demand growth could slow down, but the chance of it going below 86 million barrels, say, next year? I just don’t see that happening. And I don’t see a lot of capacity growth. Supply-demand is still going to be tight.”

I would also note that although I have been negative on China recently because of the action in XFI, the Shanghai Index is right back at all-time highs. Amazing strength indeed.