Hello everyone. Long-time-lurker, first-time poster here. I'd probably describe myself as somewhat of a doomer, taking a "punctuated equilibrium" (not my term--from biology) view rather than expecting TSHTF everywhere in short order. For example, New Orleans would be one of those places where the "equilibrium" has been "punctuated". I kind of expect that we are in a slow grind downward over the long run with the occasional city falling to the wayside from time to time, as well as the occasional nationwide sudden drop here and there (such as 2008).
I was wondering what you all's take was on the *near* to *medium* term outlook for big oil companies (Conoco Phillips, Exon, Chevron, etc.) I am bullish on commodities in general (metals, energy, and timbre land especially) but feel like some are kind of overvalued (gold, silver). I really have a hard time getting a feel for where oil prices are likely to go, given their volatility over the past decade. I'm wondering if many of these companies are good investments given the long term outlooks wrt climate change and peak oil, or will companies like COP, XOM, CVX, etc go the way of the buggy whip and sail-makers?
I look forward to hearing you all's thoughts...thanks!