Blog : Official Oil Clock
by Peter Leeds on April 15th, 2015
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Last week we released the surprising, official Oil Clock. This is a countdown of how much total oil is left in the world. See for yourself...
The timing turned out to be perfect, considering the report just issued by the Energy Information Administration today. The data showed that crude oil inventories only rose by 1.3 million barrels, rather than the anticipated 4.1 million increase which was expected.
Please take a look at the official Oil Clock, and see exactly how much is left worldwide, at current consumption rates.
Other factors driving up the risk premium in oil, and therefore the prices, involve the potential of Egyptian and Saudi ground forces attempting to use Yemen as their own version of the American Vietnam war. Things are already out of control, and they rarely get better with the insertion of ground forces.In addition, the Iranians recently commented about 5% OPEC production cuts to bolster oil prices. If they do manage some cooperation on constraining supply, and other nations follow suit, prices could easily reach into the $75 range.
Many of our oil-related penny stock picks have soared in the last few days, and we expect them to continue to do so if oil maintains the current trajectory. Speaking of which:
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As of January 2017 we no longer publish the blog and it has been removed from the webiste menu.
You are reading this old blog entry because we still like to reference it. :-)
You are reading this old blog entry because we still like to reference it. :-)
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