Foreign Correspondence

[otraque]

As oil crisis builds time is of far more critical than how much potentially is available.
If oil were to go above 50dollars a barrel and maintain that level for a year it could well create a deep global recession.
We years ago heard endlessly about the how the Caspian Oil fields would resolve much, but years later we are a minimum 5 years away from seeing a drop of the Caspian Oil Field. This is typical.
At the rate BP calculates rate of demand versus supply we are WAY BEHIND in terms of heading off a crisis.
The old adage is true, the only way for world to bring down demand is to have a global recession.
The timelines they have used for getting oil in the circuit have been very often quite overly optimistic.
This surge in oil demand this year caught the experts in petroleum demand rate for a loop, they did NOT see it coming.
Except for a few of brilliants like Dr.MarcFaber, who called this event 2 years ago, this leap in demand has thrown the oil industry into disarray as they simply had not prepared in advance for this.
I, myself see a major global recession coming faster than supply side can be enhanced in time to head off this recession.
The rate of demand increasing is rising quite a bit faster than supply can be increased.
For instance, people who cry to get those pipelines to Alaska put in, so yeh, say they get the high sign, we are still talking 5 years away.
MarcFaber is now predicting oil will spike out at 100dollars a barrel.
World history's future is now 4th and 10, 70 yards from the endzone and 5 seconds on the clock and 6 points behind.
Where are you Franco Harris?:)