Ever wondered how far we're willing to go to extract the tiniest quantities of oil? Well this picture explains it perfectly. We are very close to peak oil production and so the next decade is going to be very interesting! But from an investor view point, oil prices are only going in one direction! And it's not sideways!
Also, to put it into perspective of how desperate we are. Remember that BP oil spill not so long ago in the Atlantic? Well that oil well they found there was one of the biggest discoveries in recent history. That may sound impressive, but if they didn't screw up and they actually managed to extract every single drop of oil from that well...it would only have supplied just 24 hours of the world's total oil consumption! 24 hours! And that's being conservative. As I've said many a time now, my personal 5 years outlook on the markets is Euro down, Dollar up till the Euro dies, then down, Oil up, Gold and Silver on a rocket, commodities up, Rare Earth Minerals up, Uranium up and Stock Markets down....it's probably better to go to the casino than buy into the Stock Markets at the moment!
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