A huge thank you to Michael Lardelli for pointing me to this hour long presentation by Steven Kopits, Managing Director, Douglas-Westwood, for The Center on Global Energy Policy. It was recorded February 11, 2014 and is therefore right up to date, for the time being. It’s not short, obviously, includes bucketloads of data and information which I think will require me to view it twice…… so some commitment to ‘the cause’ is required! But anyone wondering about the cause for Shell’s rout in Australia will be amazed to hear at about 45 minutes that this company actually borrowed money to pay its share dividends…….
Is the oil industry in the poo…? ABSOLUTELY. There are several red flags going up in this…. not least China’s apparent decision to slow its involvement in the oil markets. Maybe it can’t afford to buy more resources at the price it takes to purchase them?
If ever you needed proof that it’s MONEY that lubricates the economy, even the very oil industry itself (the irony is overwhelming…) then watch this… It is perhaps THE most important video you’ll watch about Peak Oil until the whole shebang falls over in a heap…. it blew MY socks off.