Comments
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SHSo many chemicals and fuels other than vehicle petroleum are made from hydrocarbons. With the lack of investment in hydrocarbon, don’t count out $200 a barrel in the next 2-5 years.
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JDDo people actually pay for this guy's advice?
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SSA bit superficial argumentation
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WMI don't strongly disagree with Rick's comment about lower oil prices but I am in the business itself for 40 years and have heard death knells for oil several times before. I think it will fall in a global recession but I disagree the world is awash with oil. Clean energy WILL continue its rapid increase but I think there is one more spike left in the oil market. Investment in non opec oil has been very low for many years. Shale oil may have peaked, if not in the West Texas Permian but certainly in the Baaken and Marcellus. Shale will not last but ten years at these levels.
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WMAs his chart shows, platinum has usually traded at a big premium to palladium. Platinum also has typically traded at a modest premium to gold and is about 600 times rarer than gold. I think his upside target for platinum seems low...at least from a longer term perspective. I think platinum has more upside than gold with less downside over the next few years.
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DPAgree with the medium-term bearish on oil prices. However, the clean energy supplanting fossil fuels in "5 to 10 years tops" is utter fantasy.
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JSBeen in the oil space for 39 years and I agree with bearishness stated here.
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JRIt feels like the oil short would be a little early...