Oil prices collapsed 77% from $147 to $33 in the final 5 months of 2008, reflecting the massive downturn in global consumption now underway. Recently we have seen friction in the Middle East and Russia thrust a bit of a terror premium back into the mix, taking crude back to $50 a barrel this week. But as distracting as the geopolitics may be, the main plot of global recession continues unabated and demand for energy is not likely to pick up over the next year.
Meanwhile as the Wall Street Journal points out today:
"OPEC's quota reduction is unconvincing so far. And each cut increases spare capacity, which has doubled already to three million barrels a day. And as Deutsche Bank analyst Paul Sankey points out, while 1.5 million barrels a day represented a year's worth of demand growth in 2008, three million represents "infinite" spare capacity relative to demand when it is falling, as it looks set to do in 2009." See Limits to Oil majors' largesse... more »
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Books
Press Release Praise for Juggling Dynamite “An explosive critique about the investment industry: provocative and well worth reading.”  –Financial Post“Juggling Dynamite, #1 pick for best new books about money and markets.” –MoneySense“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.” –Toronto Sun
 Click for recommendations. |
Tuesday, January 6
Middle East tension upstage the main plot in oil
by
daniellepark
on Tue 06 Jan 2009 02:45 PM EST
BNN interview this morning at 8:35am est
by
daniellepark
on Tue 06 Jan 2009 11:38 AM EST
Ms. Park was a guest this morning on BNN at 8:35am est with Michael Kane. You can view the clip here. more »
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Key Interview
Danielle speaks with Jonathan Chevreau on the Financial Post's blog Wealthy Boomer.
Part 1 Part 2 Recent Multimedia
Audio and Video Interviews“Dear Ms. Park, I watched your appearance on BNN today, and I just have to leave you a message saying 'Thank you' for giving viewers your very frank opinions about how things are going and certain industry practices. I appreciated you trying to give as much information as you could during that (too) short segment. Thank you for what you are doing for all investors!” —blog reader, April 30, 2008
“Each time I see Danielle Park on BNN, I am impressed with her comments and insights. Other than Rick Santelli on CNBC, she is the only commentator that I feel is completely honest and trustworthy.” —M. Scher, Toronto
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