Tuesday, April 20, 2010

Oil´s taste

The U.S. Joint Forces command has issued a Joint Operating Environment report:

"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day, While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth in both the developing and developed worlds.
Such an economic slowdown would exacerbate other unresolved tensions, push fragile and failing states further down the path toward collapse, and perhaps have serious economic impact on both China and India."

Goldman Sachs controls over 43,000 miles of pipeline and more than 150 oil storage terminals. Morgan Stanley has the capacity to store and hold 20 million barrels. And these firms have the power to direct billions of dollars of their clients' money in oil.

Which way do you think they will push oil prices?

Only when the last tree has died and the last river been poisoned and the last fish been caught will we realise we cannot eat money. ~Cree Indian Proverb
And also oil. It has quite a bad taste.
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