Blue Phoenix Inc.

http://www.theenergyreport.com/pub/na_u/860

TER: So, we may not even see $65 in 2009?

JL: I think we can. Once we get through the summer months, we can see the economy start to show some signs of life; but I think that the oil market is going to go back to its own fundamentals. We’re going to maybe look at where the dollar is trading, as well. There is plenty of oil in the market place right now, but all the E&P budgets being cut is going to show that, when there are actually any signs of demand increasing, we’re going to see a massive short covering.