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I saw a familiar sight on the charts today – green for the dollar, and red for just about everything else. This was a very common sight last fall and winter. This currency picture, courtesy of Barchart.com, used to be an all-to-familiar one. Then when the famous “March 6” lows held, and spring sprung, we […]
The oil to natural gas ratio is at an extreme level not seen in at least 15 years, reports market technician Martin Goldberg. Martin is an astute market observer who I recently discovered on the Financial Sense Newshour. With oil above $71, and natural gas below $4, you’d think that something has to give. Sure, […]
From Stratfor: The International Energy Agency (IEA) released figures Jan. 16 indicating global oil consumption will fall in 2009, The Associated Press reported. The IEA blamed the global economic crisis for the reduction in oil demand, and said a drop this year is the first two-year slide since 1982-1983. The IEA forecasts oil demand will […]
Falling Fortunes, Rising Hopes and the Price of Oil December 15, 2008 By Peter Zeihan Related Links · Mexico: Insuring Oil Exports · Canada: Oil Sands Tax Increase Related Special Topic Page · Global Energy Prices Oil prices have now dipped — albeit only briefly — below US$40 a barrel, a precipitous plunge from their […]
The International Energy Agency projects worldwide oil demand will fall by 200,000 barrels a day, to 85.8 million barrels a day, in 2008. The IEA expects oil demand to recover next year, estimating an increase of 400,000 barrels a day, or 0.5%. The oil futures markets appear to be pricing in a much steeper drop […]
Let’s look at a few opinions I’ve heard over the last couple of days: Chuck Butler at the Daily Pfennig believes at least 20% of the current price is speculation driven Jeff Clark at The Growth Stock Wire thinks it’s time to sell oil stocks now T. Boone Pickens (video posted yesterday) says demand is […]
BP Capital CEO Boone Pickens thinks we’ll see $150 oil before the end of the year. He also bought 10 million shares of Yahoo, following his friend Carl Icahn into the deal. He also believes demand destruction in oil due the US slowdown is a non-issue, as the rest of the world is compensating for […]
“I think I made a mistake” Pickens humbly told CNBC yesterday, referring to his prediction that oil would drop in the 1st quarter. He sees oil “hanging around here” in the 2nd quarter, and above $100/barrel in the 2nd half of the year. He is also bullish on natural gas, citing it’s relative cheapness compared […]
Byron King, author of Agora’s Outstanding Investments, talks on CNBC about oil prices. I’m an Outstanding Investments subscriber, and a big fan of Byron’s analysis. This guy is all over the oil situation – he flies around the world going to geology and energy summits – he knows what’s going on. Here he says he […]
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