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Friday, May 3, 2013

CNBC Gets A Rare Interview With Charlie Munger

Oil Supply Shortfalls Are Mounting

Comments from this analyst:

- demand is still relatively weak
- supply side is what is creating some bullish sentiment
- outside the United States production has not been good Brazil, Iran, Iraq and Kazakhstan have all disappointed
- what investors need to realize that shale oil, oil sands, deepwater and artic oil sources all need very high oil prices to work, this is going to provide support for oil prices in the future
- Russian shale is going to require $90 plus oil