Rarely does the focus of my analysis revolve around fundamentals. However, when it comes to oil? I think little is needed to argue the strategic importance of oil, as it provides the primary cornerstone of our global economy. Recent slides in it’s price have caused me to reflect on its role throughout time,as a primary catalyst in authoring history. Stated succinctly, the history of oil, by and large has painted the history of our world.
When I present a webinar this weekend, I’ll outline and discuss the current,and future projected states of oil prices, from a technical perspective. A discussion of the fundamental factors related to oil, which represents a departure from my normal presentation protocol,speaks to the enormity of the subject. I’ve literally resolved my fundamental view of the US dollar, in the last seventy two hours or so, in no small part in consideration of the economic shot in the arm, I take oil price declines to be. Its as if we’ve been given a tax cut, minus the political tugs of war typically accompanying such. If ever their were a “Black Swan” event, I think we are in that ballpark! Recent conjecture has it that the US, in conjunction with Saudi Arabia, have agreed to not cut production, and in so doing, play our “Oil chip” against Russia, which has petro-dollar dependency to the tune of about 40%. Let the games begin! Whether this is true or not, is not an issue. The fact that there is talk along these lines, points to the criticality of oil.
During the conclusion of my webinar I’ll focus on strategies, optimal for exploiting my energy forecast.
Click the button below to tune in this Saturday, December 6, at 9:00 am Pacific.
