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Supply not demand is the issue
Our planet is facing a severe energy crisis, however not many are paying attention. I find it amazing that rather than focus on the very real threat of ‘Peak Oil’, the majority of investors seem to be worrying about the ongoing credit crisis.
My comment: I’m not surprised as the sheeple media overload and lack of critical thinking by "analysts" is nothing new.
Over the past few months, the price of crude oil has dropped sharply due to forced liquidation in every asset-class. Unfortunately, this decline has convinced everyone that the oil ‘bubble’ has burst. Every day, we hear about the…
18Nov2008 | The Real Deal | Comments Off | ContinuedPain at the Pump: It’s Time to Start Thinking About $7 a Gallon Gasoline
U.S. consumers barely had time to get used to the idea of $4 a gallon gasoline before prognosticators started talking about $5 a gallon fuel.
And unfortunately for the U.S. economy, the worst is yet to come.
The average price of gasoline in the United States broke $4 a gallon for the first time Sunday, following a double-digit surge in oil prices last week. And despite an economy that appears to be in an increasingly fragile state, experts are already debating the potential for gasoline to hit $5 this summer.
But here’s what most economists aren’t saying yet: U.S. motorists could easily be…
10Jun2008 | Money Morning | Comments Off | ContinuedFormer Oilman T. Boone Pickens Makes a $2 Billion Bet on Alternative Wind Energy
T. Boone Pickens made his fortune in oil. But now the Dallas oilman and famed former corporate raider is betting $2 billion that he can have the same success with a new source of energy – wind.
Pickens’ Mesa Power LLP yesterday (Thursday) unveiled the first phase of an eventual $10 billion alternative energy project that has the potential to become the world’s largest wind farm.
“You find an oilfield, it peaks and starts declining, and you’ve got to find another one to replace it,” Pickens, who once operated one of the largest independent oil-and-gas production companies in the country, said of…
16May2008 | Money Morning | Comments Off | ContinuedContrarian Takeaway: Prices in the “Out-Months,” the Candlesticks, and the Indicators Suggest a Screeching Halt to the Rise in Crude Oil Prices
Since March 17, Gold has declined nearly 13%. So much for the “inflation hedge” hypothesis. Whatever happened to the “inevitability of $2,000 Gold because the fundamentals require it?” Proponents are noticeably quiet these days. Is Crude Oil headed for $200 per barrel? Maybe so; but maybe not quite yet.
As in the case of Gold, there is no shortage of fundamental reasons why the price of Crude Oil must increase. What do those who are “on the inside,” doing the actual trading with real money, think about the future price of crude oil? Yesterday’s closing prices of the crude oil futures contracts…
11May2008 | William Kurtz | Comments Off | ContinuedPeak Oil: From Pemex to Petrobras
Oil and Energy
Mexico is struggling with a very important question about its future. Does the country want to be Brazil or Venezuela?
On the one hand, you have authoritarian rule and government-controlled natural resources. On the other, you have a liberalization of state control and a booming economy. Hmm. That’s a tough decision.
Right now, the president of Mexico is fighting to bring more autonomous control to the country’s nationalized oil company Petroleos Mexicanos (Pemex). But he may have trouble convincing his congress to make the changes.
Pemex is the single largest revenue source for the Mexican government. It produces 40% of the…
3Apr2008 | Stephanie Grimmett | Comments Off | Continued
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