The U.S. No Longer Controls the Price of Oil in a Peak Oil World
Back in the days when US oil demand controlled the price of oil, a massive recession in the United States would have sent oil to 12.00 dollars a barrel. That era, which ended last decade, was defined by ongoing spare capacity in OPEC, low-cost oil in Non-OPEC, and nascent demand for oil in the developing world. That was then, and this is now. And so it’s rather quaint that the energy analysts from that previous era still gather each week on American financial TV, to discuss the inventories at Cushing, Oklahoma. Inventories at Cushing, Oklahoma? The US has been removing discretionary demand for oil for years, starting back in 2004. And current unemployment in California is at 13.2%–another new post-war high. Yet oil is at 82.00 dollars? Get these analysts off TV. Please. We need analysis of diesel demand in Guangdong, and Uttar Pradesh.
Full article at: Price of Oil
Necessitatibus est est et consequatur ipsum nam qui. Accusamus ut voluptas quis eaque enim. Doloremque velit hic non voluptas quia et nostrum nobis.
Repellendus non reiciendis a aut numquam. Suscipit reiciendis nemo corrupti nesciunt necessitatibus fuga et. Commodi assumenda velit nemo voluptatem velit quo aut. Rerum nam autem explicabo. Facilis aliquid soluta alias non assumenda delectus magnam.
Quae earum excepturi reiciendis non corrupti. Dolores ut soluta vel facere vitae dignissimos et. Deleniti quia accusantium delectus est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...