Crude Oil News at Oilbarrel
For those of you who want to keep up with happenings in the critical oil and energy industry you will probably want to visit
the Oilbarrel website.
Their tag line is “Connecting Oil Companies, Industry Professionals and Investors” and that’s exactly the purpose of the website.
I know that I’m devoting a lot of time and space to the discussion of the crude oil market.
The reason is that I do believe that understanding that peak oil on a global scale will likely occur within the next very few years is terribly important to any investor.
The consequences to peak oil actually occurring and from that point forward demand surging ahead of supply will stand the existing world order on its head.
There is little doubt that this will soon occur. Just the added demand from the high rate of economic growth in China and India will guarantee that within the next very few years oil demand will exceed production capabilities from aging oil fields.
As oil is such a critical commodity in the developed world it will take an extremely high price to significantly decrease demand. There are some key industries, like agriculture and plastics, that in order to survive must have crude oil and derivative products at almost any price. Â
Nations that product a surplus of oil will move to the top of the prosperous nation list. Those who consume more oil than they produce will be financially drained as they try in vain to maintain their standards of living.
The redistribution of wealth will create havoc in world financial and commodity markets. It will also most likely lead to never ending wars as oil deficit nations, like the US, use military force in an attempt to control the part of the world that supplies about 60% of the worlds oil, the Middle East.
The peak oil wars have already started as evidenced by the war in Iraq.
No nation that has ever built an empire at any time in history has given up its empire without a vicious fight.
For the quick witted well informed gutsy commodity futures trader there will probably be more opportunities than ever to make commodity market killings. For less skilled traders the possibility of swift devastating losses will be ever present.
If you are a commodity trader you had best get ready. Some serious trading action is about to separate the informed and skillful commodity trader from the wannabees.
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