Den:

Your reaction to the market at present is understandable and I will not say I will not be joining you. As I am still underwater, such at present ia an agonizing decision. One element to be considered is, how the developing world is soaking up the reduction in demand attributable to the developed world. Additionally, the world is still facing the threat of Iran and its potetential nuclearization. If such happens, then I believe we will see a stampede to the Oil Sands as a reliable source divorced from the trouble. Additionally, I would expect China to act to protect its interests in the Middle East, Orient and Africa. the West would likely center around Brazil, and the Canadian Oil Sands. Additionally. the US would have no choice but to open up oil exploration and development in all of its waters and lands. Certainly, should any such development occur, one will not wish to be out of safe sources of oil! Just another aspect to think about.

Brian