I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.
You can't invest in natural gas on a daily basis. It's too volatile. But if you think of natural gas as a long-term holding, then you push your profit horizon out. A long-term time horizon would be at least two years.
I don't think for a minute we went to Iraq for oil. It just so happened that it had oil. But I think we'll come out of the Iraqi situation with a call on their oil at market price.
Chief executives, who themselves own few shares of their companies, have no more feeling for the average stockholder than they do for baboons in Africa.