RE:RE:I'll wait for .99..coming soonDemand has already overtaken supply. It will just take a while for it to be significant enough to drive the price of oil much higher, as it is slowly reducing global inventory. People are wary that shale growth will ruin supply and alternative energy will kill demand. I don't think either is true in the short or even medium term, but that is the narrative.
ATH is highly levered to higher oil. If we happen to stay in the $45- $55 range into the early 2020s, then there is not much value here. I think that is unlikely. $60 - $70 makes ATH extremely profitable. I wouldn't be surprised if we go above $100 again with years of capital investment being put on hold around the world.
Time will tell. ATH is a good buy at these prices. I thought it was a good buy at anything sub $2 though.