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OIL
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Greens Senator Kerry Nettle today accused Steve Forbes, host of the CEO

conference at the Opera House, of playing deceptive games with the
Australian public over oil price claims.


Steve Forbes told the Prime Minister and media on Tuesday that oil
prices will come back down to around $35 a barrel within a year, and
that high prices are a speculation 'bubble'. Overnight his investor
newsletter has advised the opposite.


The subscriber only Forbes Professional Timing Service states:


"THE MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS"


"expect to see crude move to $65.00 this summer and to $76.00 by early
next year."


"=2E.the so-called terror premium in crude prices - which will remain
until we see at least three years of peace in the fertile crescent".


And,


"We are at the point where the rubber hits the road, and the only
rationing mechanism for whomever gets the available supply will be
higher prices."


"What is Mr Forbes up to? It appears he is telling the Australian
public and decision makers not to taking the spike in oil prices
seriously, whilst telling his investors that the spike is a great
profit making opportunity," Senator Nettle said.


"Mr Forbes public comments appear to be about discouraging steps to
address the coming peak oil crisis, a crisis he admits as real to his
investors.


"Steve Forbes is treating Australians with contempt. He should
apologise for his deliberate deception.


"Australians should be worried if the Prime Minister is taking advice
from the likes of Steve Forbes on an issue as vital as the looming
energy crisis. This embarrassing incident underlines the
untrustworthiness of Mr Forbes' advice.


"The Prime Minister should be listening to those who advocate
investment in renewable energy and energy conservation measures which
are in the long term interests of this country."


Contact - Jon Edwards 0428 213 146


EXCERPT FROM FORBES NEWSLETTERS PROFESSIONAL TIMING SERVICE OVERLEAF...



1 September 2005 12:28:37 AM
FORBES NEWSLETTERS PROFESSIONAL TIMING SERVICE


THE MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS
There are four major opportunities concerning crude oil, gold, stocks,
and bonds that will make and break millionaires during the next 24
months.


First: Too late to buy oil? Not on your life!


A couple of years ago when oil was trading at $16.00 to $20.00 a
barrel, I pointed out the ground floor investment opportunity
developing in oil.


We openly recommended Enerplus Resources (ERF-NYSE) in our
publications.


It was trading at $17.00 or less then and was paying a dividend of
about 1.25 pc - MONTHLY. That amounted to 15 pc a year. After a brief
correction this spring, crude oil is once again trading solidly over
$55.00 a barrel. Enerplus is trading over $35.00, a dynamic double from

our original recommendation. It is too late to chase Enerplus, and
there are better buys out there that are yet to be discovered by the
Street. I will tell you about one presently, but first ...


Opportunity #1 - An exceptional second chance to buy energy stocks.


The first of four major opportunities you will encounter this summer -
which is also the biggest money making opportunity I have seen since
crude oil was $20.00 - is to take advantage of the recent correction in

the energy sector and buy some energy stocks. You may be skeptical
about
this - as investors were when we told them to "mortgage the house and
buy stocks" in the spring of 1982. Nevertheless, here it is.


Oil and natural gas are on their way to significantly higher levels. I
expect to see crude move to $65.00 this summer and to $76.00 by early
next year. However, you can still buy select oil and gas producers that

pay 11 pc to 15 pc dividends - and they pay monthly. It doesn't get
better
than that.


There are many reasons to invest now in oil and gas. Unrest in the
Middle East and the so-called terror premium in crude prices - which
will remain until we see at least three years of peace in the fertile
crescent - are two reasons. I think that will be a long time coming.
Now, Iran (a major world supplier) is making the news as a safe haven
for terrorists as well as a nuclear threat.


Venezuela (the fourth largest supplier of U.S. crude oil) is becoming
our avowed enemy. There is renewed strife in Nigeria. The lion's share
of the world's crude is being produced from wells far beyond their
prime, and some sources estimate that for every 2 to 4 barrels a day
consumed, only 1 new barrel is being brought on line.


There is a major shortfall between supply and demand, and this
shortfall
is growing on a monthly basis. World demand increased 2.5 million
barrels a day over the last year due to increased demand in the U.S.
and
Asia. India and China are industrializing at a feverish pace, and their

energy appetite is increasing exponentially. China is aggressively
expanding their infrastructure and their military, and they are
developing an enormous strategic oil reserve that will be much bigger
than ours. Mushrooming global consumption will easily be 86 MBD or more

by the end of this year.


On the other hand, global production is very close to a peak, and there

is no longer any near term "excess" production capacity left.
Knowledgeable sources estimate that world production will never -
that's
NEVER - exceed 90 million barrels a day (MBD). With one exception -
which we discuss in our updated special report Oil - Slam Dunk
Investing
For Income And Capital Gains - Updated - alternative energy of any
import is years in the future. We are at the point where the rubber
hits the road, and the only rationing mechanism for whomever gets the
available supply will be higher prices