5 Reasons Oil Will Succeed

1. Oil is undervalued, futures continue to rise proving prosperous times

2. OPEC expects Global Oil Consumption to increase 500,000 barrels a day in 2010

3. Per day Oil Consumption to spring back to 940,000 barrels a day and maybe even as high as 1.4 million barrels a day if demand rebounds

4. Analysts predict higher oil prices will be fueled by a stronger economy and higher global demand in BRIC countries

5. Energy forecasters have regularly made assumptions throughout the past year as the fast-changing economic landscape altered consumption patterns and will send crude oil price high above $145 a barrel

Why I like oil as a long-term investment?

I am bullish about the prospective of the industry leading into 2010, as U.S. consumption is expected to rebound somewhat and consumption in emerging markets is supposed to rebound substantially. While most U.S. based Oil Companies expect profit drops of around 65% in 2009, I see it rebounding over 65% in 2010 and higher based upon higher projected pricing due to improved long-term economic outlook and new project start ups that have helped boost the upstream in the gas and oil volume. The main determinant to the oil recovery is the pace of how our economy continues to rebound. The stronger our economy becomes, the stronger the oil markets become. One large effect by the stagnate economy is the how the global credit crunch is making it hard for many companies to expand. I feel that our economy is slowly stabilizing and as a result the oil boom will start to take off in 2010.

What Oil Stocks to Buy?