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Message: Pendelum on prices

Gazprom used to get close to oil-price on their NG, but they have given in to a lower price, because of the big shale deposits, but they are not stupid, they stay on the delivery side(big chessplay). The renewables take time. With more focus on C02+lower price we will use more NG I think. If we ad peak-oil(some belives in 2015), then we will see high oil-prices, above 100$. In this scenario NG would be the no.1 fuel choice, I think. Maybe it's what the big oil companies think also? A fact is, that they are hungry for resources, today we have a new big buyer "BP"(maybe a little of todays gain in sp):

BP to pay $7 billion for exploration rights

On Thursday March 11, 2010, 4:11 am

LONDON (AP) -- Oil company BP PLC said Thursday it will pay $7 billion to acquire exploration rights in Brazil, Azerbaijan and the Gulf of Mexico from Devon Energy Corp.

BP will buy the rights for 10 offshore exploration blocks in Brazil and a portfolio of rights in the U.S. Gulf of Mexico and in the Caspian Sea.

BP said it is also selling, for $500 million, a 50 percent stake in its Kirby oil sands interests in Canada to Devon, based in Oklahoma City, Oklahoma.

Devon is repositioning itself to concentrate on its North American onshore natural gas and oil portfolio.

So, we may be on track with the bigger players:)

http://finance.yahoo.com/news/BP-to-pay-7-billion-for-apf-2584759222.html?x=0&sec=topStories&pos=2&asset=&ccode=

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