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Will War With Syria Cause The Price Of Oil To Explode Higher?
Are you ready to pay four, five or possibly even six dollars for a gallon of gasoline? War has consequences, and a conflict with Syria has the potential to escalate wildly out of control very rapidly. The Obama administration is pledging that the upcoming attack on Syria will be “brief and limited” and that the steady flow of oil out of the Middle East will not be interrupted. But what happens if Syria strikes back? What happens if Syrian missiles start raining down on Tel Aviv? What happens if Hezbollah or Iran starts attacking U.S. or Israeli targets? Unless Syria, Hezbollah and Iran all stand down and refuse to fight back, we could very easily be looking at a major Read more…
$6 Gas This Summer — U.S. Economy Falls Off Cliff
Dominique de Kevelioc de Bailleul:
Strap on that safety belt for one wild summer of frantic trading in the energy complex, according to economist, prolific author and wealth strategist, Stephen Leeb. He says gas prices in the US could reach $6 per gallon by the summer driving season.
And if there’s any economic event that could surely torpedo an already near-flat-lined US economy
into a death spiral, it will come from a massive price hike in that most critical commodity to any economy—oil. According to the charts, oil has again breached the Read more…
Forget the world ending, $5 gas could be the real plague of 2012 according to oil big shot
For more than two years, former Shell Oil president John Hofmeister has predicted $5-a-gallon gasoline prices by the end of 2012. And as the date that the Mayans coincidentally also think the world will end approaches, Hofmeister is sticking to that.
With 2011 national averages topping $3.50, gas prices have reached record-breaking levels. But, $5 a gallon would still represent an awfully steep climb for 2012.
“Right now, the basic supply and demand balance is at a serious point of escalation,” the straight-talking Hofmeister told CultureMap in a phone interview.
American gas prices are still rising, even in the midst of a sluggish economy.
Fuel prices were once easy to trend, rising with a good United States economy and dropping with a bad one. But in last decade, the conventional wisdom seems somewhat out of step.
American gas prices are still rising, even in the midst of a sluggish economy.
For Hofmeister — who founded the Read more…
Europe’s Rejection of Nuclear Power a Gift for Russia
Germany will phase out nuclear power by 2022, German Chancellor Angela Merkel announced June 3. A week before, Switzerland made a similar decision. Italy followed suit on June 13, voting overwhelmingly to reject nuclear power in a national referendum.
These countries will almost certainly have to replace their nuclear power with natural gas, at least in the short term. It is readily available and less polluting than coal or oil. The International Energy Agency recently predicted a “golden age of gas.”
The only problem is where Europe gets most of its gas from Read more…
China, Russia ties on sound base
Sino-Russian relations are usually wrapped in high-sounding rhetoric, but they are essentially very pragmatic. For China, Russia is a geopolitical “safe rear” and, in economic terms, a major resource base. For Russia, China is a huge market just across the border and a valuable geopolitical partner. The fundamentals of the relationship are solid and not likely to change in the short or medium term.
When President Hu Jintao visits Russia on Wednesday, he and Russian President Dmitry Medvedev will duly celebrate the 10th anniversary of the Treaty of Good-Neighborliness and Friendly Cooperation between the two countries. But the main expectation this time will be the finalization of the 30-year agreement, under which Russia will supply China with 68 billion cubic meters of gas annually over the next 30 years from 2015.
When finalized, the agreement will strengthen China’s energy security and diversify Russia’s gas exports. Until now, the principal issue between the two countries has been the price of Russian gas for China. Gazprom wanted it to be as close to the lucrative European Read more…
The Water Crisis in African Cities
Access to running water remains in a state of crisis for a huge number of people across Africa, writes Michel Makpenon. With growing urbanisation across the continent, African cities will need the political determination to ensure sustainable water resources based on social need rather than commercial concerns, he stresses.
The water issue is a major problem for people in sub-Saharan Africa. Indeed, the water situation in sub-Saharan Africa remains characterised by the difficult access to this resource, the poor supply management of watering places and the high costs of water network connections. For instance, in Benin one household in three doesn’t have access to drinking water, and the problem is much more acute in rural areas.
Households having access to drinking water are considered as households who have drinking water at home or within 200 metres from home: running water from the company’s distribution network, fountain water, water from the village pump, water tank and water from protected wells.
Various consultations led with the populations have indeed confirmed that the water issue is a major problem for them. The concerns, as raised by the populations, focus on the difficult access to water and the poor management of the watering places, the difficulties to call for the financial participation of the population for the creation and the management of watering places and the borehole characteristics which are Read more…
Where is the Global Economy Headed? The Experts Weigh In
I’m writing today after spending the last three days in Boca Raton, Florida, attending The Next Few Years: A Casey Research Summit. If you’re not already familiar, the purpose of this summit was to bring together many of the world’s top economic and investing minds to share with us where they believe we’re headed in the months and years ahead.
The cast of speakers was impressive, to say the least. They brought a variety of view points, an almost overwhelming amount of data and analysis, and a perspective on what the current world means for investors that would be hard to build on. Yet, with all this variety of thought and perspective, one central theme seemed to emerge.
If you’re able to see the annihilation of your currency coming down the pike, and you take the right steps to protect your wealth, you can come out on the other side largely unscathed. Given the right investment strategy, you may even be able to grow your wealth significantly during this time.
While I knew this on some level coming into this event – I’ve been reading Casey Research’s work for just a few months now, and this was the first of their events I’ve attended – I was given pause by Casey CEO Olivier Garret’s welcoming remarks.
“While no one can predict the future with complete certainty,” he said, “it should give you comfort to know that the faculty for this summit have in common that they correctly anticipated the trends now dominating the global landscape.”
When you bring together 35 experts who each correctly predicted what’s happened in recent years – while the mainstream media Read more…
QE2 Is Damaging The Economy And Reducing GDP Growth
QE2 is going to go down as one of the worst monetary policy initiatives in the history of the modern Federal Reserve era. On almost any metric applied, QE2 ends up not only falling well short of its proposed goals, but actually turns certain metrics like GDP growth negative compared with the prior quarter, and heading in the wrong direction.
Costs Eat into Corporate Profits = No Hiring
Analysts all over Wall Street are starting to revise their 2nd quarter GDP forecasts down, and some like Goldman Sachs have made several downward revisions as higher input costs due to a weak dollar are creating an additional burden on businesses and consumers and thus slowing economic growth.
A weak dollar (Fig. 1) to a point can help exports, but an extremely weak dollar which in combination with QE2 liquidity juicing up commodities even further, turns out to be a net negative on the economy, and risks sending the Read more…
Gas prices surge toward $4, threaten economic recovery
Click Map to enlarge
Gas prices continued to gallop toward $4 a gallon early this week, both in the area and across the state, as prices in Minocqua and Rhinelander hit $3.99 on Tuesday, even as prices for crude oil eased, at least temporarily.
Across the nation, according to GasBuddy.com on Wednesday morning, the national average price for a gallon of regular gasoline stood at $3.79; in Wisconsin, the average was $3.87. Four states, including Illinois, have seen prices already surpass $4.
Crude oil prices moved downward Tuesday from $113 a barrel – the highest price since September 2008 – to $106, a Read more…
Worldwide Silver Shortage?
FutureMoneyTrends.com has recently received several reports, published and non published reports about possible silver shortages. Is their a very limited supply of silver, yes, is there a worldwide shortage happening right now, well not exactly. Under the agreement that we wouldn’t reveal their name, a major bullion dealer who we are friends with, told us that their traders are not having any issues buying physical silver, and that their warehouse had a significant amount of physical silver. Now, will there one day be a shortage of silver, in our opinion at these prices, yes, the price for silver will have to move up considerably in order to come in line with the above ground available supply and ever increasing demand. Sorry to disappoint you, Read more…
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