Insight and inspiration in turbulent times.
A midweek update. The drop in oil prices continued this week as US crude stocks increased; OPEC lowered its demand forecast for next year; several OPEC countries reduced their selling prices to Asian customers; and the Saudi Oil Minster reaffirmed his intention to maintain production.
A midweek update. Oil prices continued to fall this week setting four-year lows before closing on Wednesday at $73.69 in New York and $77.75 in London.
The world price of oil – Brent Crude – fell below $84 per barrel on October 15. What is going on? Why does the price of oil matter to financial advisors? What might these fluctuations mean to the price and supply of oil for the rest of the decade?
A conference sponsored by a US military official convened experts in Washington DC and London warning that continued dependence on fossil fuels puts the world at risk of an unprecedented energy crunch that could inflame financial crisis and exacerbate dangerous climate change.
On 10 December, Lt Col Davis and I convened video-linked gatherings in Washington and London of people who share our concerns about the risk of a global oil crisis.
A mid-week update. After falling steadily since the middle of September, New York oil futures rebounded this week by some $5 a barrel to close at $97.14 on Wednesday.
So here is the dirty little secret of our civilization: It runs…energy per unit time…In other words, having one billion dollars in your checking account does not help you with purchasing a Rolls Royce with cash if your daily withdrawal limit is 100 dollars.
Peak Oil – the maximum sustainable rate of global oil production – happened in 2012. That’s one of the main conclusions of a new report, Fossil and Nuclear Fuels – The Supply Outlook, released in March 2013 by the Energy Watch Group (EWG). This event will have profound long-term implications for how advisors should manage clients’ portfolios, and how clients should plan their future expenses.
