Oil - The Big Picture

We periodically step back from the day to day grind to check the "big picture". In the case of oil and gas there are a few concepts that require revisiting during the current corrective phase of the energy bull market.

1. Exagerated productive capacity by OPEC.
   Bank says Saudi's top field in decline
   
   
2. The low hanging fruit has been picked and we are moving down the resource triangle. Currently oilsands and coalbed methane are actively being exploited in oil and gas respectively.
   
   
3. The lack of fresh EGGS (Engineers, Geologists and Geophysicists). The experienced ones prefer to take a piece of something they find for themselves as opposed to working for a major.
   
   
4. An absence any new "giant" discoveries

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