Oil Market History Lesson (a podcast) - Mar 21

[dan_s]

Learn how important the oil industry is: https://www.youtube.com/watch?v=kzvYOTJkPkc

Also, learn that oil demand won't peak until at least 2040.

[KGardiner]

Thanks Dan,
Nothing new to most of us trading fossil energy, but I felt WION did a great job presenting the history of oil and our dependence. Oil demand isn't going anywhere but up in the next decade. Being so essential demands geopolitical involvement. I hope we have the sense to avoid being held hostage by our dependence. Otherwise we will be just like the EU.
Kevin

[dan_s]

The US is blessed to have abundant oil, gas and coal reserves. We just need the Feds to get out of the way.

We are also blessed to have abundant farmland. Russia/Ukraine conflict will soon impact the world's food supply and starvation will spread.
Read this: https://www.yahoo.com/news/ukraine-war- ... 29074.html


My near-term concern is that our diesel inventories are way below where they should be this time of year. It takes a lot of diesel to plant and harvest our basic food products. Make sure you keeps plenty of canned goods on your shelves.

[dan_s]

“Ukraine has only compounded a catastrophe on top of a catastrophe,” said David M. Beasley, executive director of the World Food Program, the U.N. agency that feeds 125 million people a day. “There is no precedent even close to this since World War II.”

Ukrainian farms are about to miss critical planting and harvesting seasons. European fertilizer plants are significantly cutting production because of high energy prices. Farmers from Brazil to Texas are cutting back on fertilizer, threatening the size of the next harvests.