Sell Industrials; BUY Crude
Sean Brodrick
This year — 2011 — is when the world is going to start using oil at a rate of more than 1,000 barrels PER SECOND.
According to the International Energy Agency, global oil demand will average 88.2 million barrels per day (bpd) in 2011, up from 86.9 million bpd in 2010. At 88.2 million bpd, the world will use 1,026 barrels per second — a sonic boom of energy use. Keep that in mind — and hang on to your hat — as I tell you more news:
- The president of Excel Futures says that the price of crude is going as high as $120 to $130 by July. "More and more people are coming out and saying that. It's inevitable," Mark Waggoner told the Wall Street Journal.
- U.S. crude inventories have fallen by more than 20 million barrels in a recent 1-month period. This is adding more upward pressure on oil prices.
- The price of oil rose 26.5% in 2010. But OPEC, which produces about 40% of the world's oil and natural-gas liquids, refuses to change production quotas that have been in place since January 2009. And leading OPEC members say that they expect to see 100 dollar oil "very soon."
- If anything, OPEC's production is going in the wrong direction! 10 of the cartel's 12 countries will produce LESS oil in 2011 than they did in 2008, with Iraq and Nigeria the only countries expected to see production increases. This is on top of the 2.4% drop in global oil production we saw in 2009.
- Chinese oil demand is shifting into overdrive, driven by that country's growing love affair with the automobile. In the first 10 months of 2010, China's auto sales exploded by 34.5% to reach 14.6 million vehicles. Annual total sales may reach about 18 million units.
- 700 out of every 1,000 people in the U.S. and 500 out of every 1,000 in Europe own cars today. In China, only 30 out of 1,000 own cars — but Dr. Fatih Birol of the International Energy Agency says that figure could grow by NINE HUNDRED PERCENT in less than 25 years!
In fact, demand for oil from China and India, another amazing growth story, is expected to raise global oil demand another 1.3 million barrels in 2011 and push global oil demand to 92 million barrels a day by 2015.
This simmering energy crisis is transforming the world — from geopolitics to the financial markets to the gas pump to the price of 75% of everything you consume on a daily basis. And together, these forces could send oil to $130 ... $150 ... or higher! So right now is the time to act. There's no doubt in my mind ...
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
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