Technical Scoop: Chart of the week by David Chapman Continue reading
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Oil
Courtesy of Julian Phillips
The use of the SWIFT system to rein in Iran, may be a mistake by the U.S. China will react, I feel.
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This report posits that risks for the oil price are heavily skewed to the upside. At the moment, the market is well supplied, but the escalation of troubles in the Persian Gulf could easily push oil prices to new all-time highs. New all-time highs will mean demand destruction. The average oil price will likely reach $123 per barrel by March 2013. Continue reading
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Oil is the lifeblood of modern society, powering over 90% of our transportation fleet on land, sea and air. Oil is also responsible for 95% of the production of all goods we buy, and it… Continue reading
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High oil prices tend to have a recessionary effect, and can lead to debt defaults. Continue reading
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The EU has delivered on its threat to ban the import of crude oil from Iran, in response to its nuclear programme. The latest round of sanctions prohibits any new oil contracts, while allowing for… Continue reading
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There was a time when central bankers used to fight high oil prices with interest rate hikes, but we are in a different paradigm now. Central bankers are more likely to lament that “the Fed can’t print oil.” Continue reading
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Depletion of current oil reserves becomes evident from the above chart showing the decline in oil discoveries. Continue reading
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We’ve arrived at the point where demand has begun to outpace supply and even the onset of another worldwide recession will not assuage this fact. Continue reading
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Once a year, the International Energy Agency releases its World Energy Outlook. This year’s version is the first to mention ‘Peak Oil.’ Not only did they mention it, they said that as far as conventional oil goes, it’s in the rear view mirror (conventional oil is cheap and easy to extract, while nonconventional oil is difficult to extract and expensive to produce). Continue reading
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A sign at a gas station in Oregon proclaims: “Gasoline 20¢ a gallon if paid with pre-1964 dimes, quarters, halfs or dollar coins.” In other words, un-debased US currency.
“A gallon of gas was… Continue reading
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Jim Rogers sits down with The Wall Street Journal and offers his thoughts on the gold and silver markets as well as oil and commodities. Rogers believes that whilst both gold and silver could have corrections, they will move consistently higher for several years to come. Continue reading
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Smart money buys when others are fearful; sells when others are greedy; sees trends others don’t; ignores the headlines; plays the big trend, not the gyrations; doesn’t count money before it’s made; ignores official government reports; and relies on its own research. Continue reading
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