Maybe America doesn’t like it but they need the oil that the tar sands produces. If the pipeline from Fort McMurray to the west coast is built then that oil will go to Asia.
The oil will be produced whether they like it or not so you might as well stop complaining about it.
No Doubt that in 10 years oil will be 300 dollars per barrel. He quips that America will be able to solve 2 of their problems if oil reaches 300 per barrel—health care and education. If oil reaches that level they won’t have the money to fund either one of them particularly if they are importing 70% of their energy need at that time.
This video was floating around the trade room today which sort of caught me off guard. Generally this crew are not gold bugs or even inflationists so to see them actually watching and discussing the issues brought up in the round table was a surprise.
A little background would be good for the reader here. Generally these days I do not discuss my opinions regarding Peak Oil (believer!) and inflation (rising!), Gold (long!) as no one really follows it. hard to believe that some of these guys are the “smart money” that is discussed in the media from time to time. In there defence they are not idiots and when they figure it out some of them will make a crapload of money off of the situation—so don’t discount them!
I found Jim Rickards analysis interesting with regard to the price of gold. Gold will hit 2,000 without breaking a sweat in 2010. If the market decides that gold is money then a proper valuation for gold is between 4,000 and 11,000. The latter is eighth grade math taking the price of gold and dividing it by the money supply.
Marc Faber is a guest host on RobTV in Canada and provides phenomenal insight into the inflation deflation debate that is raging across the airways at the moment. Yes there is some improvement in some sectors, but there is a problem. There is a disconnect between the real economy and the financial economy.
He says it best and I recommend that you watch him on this video rather than read my drivel. If you are searching for this information and actually found me then you probably suspect that there is something wrong. You are right! Don’t take my word for it. Listen to the many interviews that I have posted from investors, speculators and commentators that I have posted on this site.
I believe that you will not be disappointed!
Part 1
Part 2
Part 3
Part 4
Part 1, 2 and 3 of a Jim Rogers interview where he lays bare the problems befitting the US and the UK.
Part 1
Interesting viewpoint on how the decline of the North Sea is a disaster for the UK. You could almost call it a North Sea Peak Oil crises.
Part 2
Part 3