zondag 25 maart 2012

What if Oil Prices Double?

Today we are concerned about peak oil because global demand in oil and gas is increasing 3% a year while production is decreasing 3% a year. There have been tensions with Iran trying to shut down the Strait of Hormuz, which will affect 35% of seaborne traded oil. The Obama administration is already concerned itself about oil prices and is now focusing on increasing the drilling rate of oil domestically.

The fact is that the U.S. imports of oil have skyrocketed. 30 years ago the United States imported 28% of its oil, while today, oil imports were over 60% in 2008 but have come down to 49% in 2010. Most of those imports are coming from Canada, the country with the third highest oil reserves on the world after Venezuela and Saudi Arabia.

If oil prices were to double, there are a few things to think about.

Please go to my analysis here to find out: Benefiting from $US 200 dollar oil.

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