Save the Blue Planet humans from themselves
Let's see, Global Warming, now featuring biblical drought. Constant war and turmoil in the Middle East. Pipeline control battles in the Ukraine. Looming sovereignty conflict in the Arctic. The worst oil spill in U.S. history, minimally covered up from view. South China Sea territorial dispute. What do these all have in common?
But, there is hope. (Take note of rare optimism on this blog).
As I've said, the over-supply and over-demand for oil is purely a function of globalization. And therefore, once demand breaks down, then supply will soon follow. Conversely, T. Boone Pickens, a few weeks ago said that "Brent Crude Will Be Above $100 Forever". It turns out that three weeks is the new "forever", because Brent just cracked $100 today and analysts see short-term downside of another 10%:
"Even with geopolitical tensions running high, the oil market has become more bearishly positioned than it's been for several years, and prices could fall another 10 percent or more. Brent crude, the international benchmark, fell through $100 for the first time in 16 months Monday, as Chinese import growth fell unexpectedly for a second month. Besides softer demand from China, the developed world is using less oil in general as a supply glut grows in the Atlantic basin."
Note, the WTF? logic, demand is less, because supply is more? How does a supply glut translate into "the developed world using less oil". When prices fall, people use more not less. Prices are falling because demand is slowing.
Globalization Collapsing in Real-time:
(Canadian dollar, West Texas Crude, Copper, Russian stocks):
