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Peak Oil. Sometimes it sounds sooooo 2008. What’s the real story? Is there too much oil out there, or not enough? Seems like it’s tough to get a straight answer on this question – or at least an answer that experts agree on. In this guest piece, Marin Katusa of Casey Research takes a look […]
This morning, the US Department of Energy reported, well, HUGE inventories in oil. Oil’s decline hastened on the news. I’m wondering if oil has placed in its short term top, on it’s way back down to the $40 range, or perhaps lower (maybe even $20 as predicted here?) After rallying north of $140 last summer, […]
Crude oil expert Philip Verleger, who correctly predicted oil would hit $100 back in 2007, is now forecasting $20…this year! Verleger says that supply is outpacing demand by 1 million barrels a day – and with the global economy not really improving, a warm winter could prove to be “devastating” for oil prices. This jives […]
Last night I had the opportunity to sit down with PG, who is the head of a small refinery based in Texas. We talked about the economy, and most specifically, crude oil – where the price may be heading, and supply/demand considerations. (OK it’s my father-in-law…we were having an after-dinner beer…but I’ll take his insights […]
If there’s one thing to say about the crude oil market, it certainly trends well…both ways. Check out this chart: Crude oil takes a turn lower. (Source: Barchart.com) We’ve been hearing energy gurus for weeks scratching their heads, saying there’s plenty of crude to meet demand today. But prices kept on climbing. Well, now prices […]
Global oil producer BP reported that oil reserves fell for the first time in 10 years…from 1.261 trillion barrels to 1.258 trillion barrels. Enough reserves for about 42 years at current production rates, according to the company. You can read the full report here. Some quick highlights: Global oil consumption fell by 0.6% in 2008 […]
Here’s a fantastic – and free – webcast, courtesy of Frank Holmes and the team at US Global Investors, entitled Commodities: Reasons to Be a Bull When Everyone’s a Bear. It was originally recorded on April 21st. It runs almost an hour, and is definitely worth a watch if you are a serious commodities investor. […]
When CNBC starts asking if oil will hit $300 anytime soon, that probably means we’ve got a short term top in place. In fairness to Kevin Kerr – I think very highly of his commodity insights, and this interview is worth watching…his points are all good ones. However if you’re contrarian trading against CNBC […]
It appears so – as you can see from the chart here, oil supply is projected to shrink by a significant amount each quarter of 2009: This chart is courtesy of Frank Holmes, who writes on his blog: It’s also important to point out that it is much cheaper and easier to cut supply than […]
Jan. 19 (Bloomberg) — Goldman Sachs Group Inc. commodity analyst Jeffrey Currie said he expects a “swift and violent rebound” in energy prices in the second half of the year. Oil prices may have reached their lowest point already, after falling to $32.40 in mid-December, and are expected to rise to $65 by the end […]
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