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Created on: 8/13/2023 3:23:26 PM Last Update: 8/13/2023 3:58:06 PM Posted by: RTT
1 POST
Crude Oil near $300 plus
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 If the crude oil price follows its performance of the last 100 years, then a print of $300 plus oil in US dollar terms is on the table in the next decade.
Of course, crude oil priced in US dollars means higher oil prices can be the result of bearish US dollar fundamentals more so than a bullish crude oil fundamentals.
Pulling commercial (light sweet) oil out of the ground can be classified into two groups: easy and hard. Easy is cheap oil production; hard is expensive oil production. The world has enjoyed cheap oil production for decades, and we are now moving into expensive oil production.
Buy the deep corrections are to be considered over the next decade.
Chart 1 - This tweet makes a point, plus it highlights the debate around future oil production.
Chart 2 - Oil history and price channel forecasts
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Chart 3 - Oil long term cycle
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Chart 4 - No wonder central banks are buying all that gold. Gold follows oil.
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Investing Quote...
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Jesse Livermore
.."We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission"..
Ayn Rand
.."So you think money is the root of all evil? Have you ever asked what is the root of money? Money is a tool of exchange, which can't exist unless there are goods produced and men are able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value(...) Money is made possible only by the men who produce. Is this what you consider evil?"..
Ayn Rand
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Mark Twain
.."man exists for the achievement of his desires"..
Ayn Rand
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