His subscribers report an average of 90% profit on his picks—that’s nearly DOUBLE their money on every pick.
John Myers studied under the guiding hand of one of the most respected men in the oil business—the publisher of Oil Week and one of the original “gold bugs”. CLICK HERE to learn more.
You could make so much money on this junior it sends chills down my spine.
With the price of oil at sky-high levels it takes a lot less production to make a lot of money. Sure companies with massive production are making big bucks—but it’s not so much reflected in their share price.
Now with a junior producer in your portfolio you have a lower share price that allows you to make a whole lot more money. Even a lower amount of oil or natural gas produced is still big money to a smaller company. In cases like these the share price has a lot more room to soar, allowing early investors to make far greater profits.
How high, how fast will oil prices rise?
Right now the big question analysts and Wall Street warriors are asking is not whether it will go higher but rather: how high will it go?
Not long ago, Goldman Sachs predicted $105 a barrel oil. Many thought they were out of their mind…and shrugged it off, shaking their heads in disbelief. They’re not shrugging anymore.
"At the root of the stunning rise in the price of oil, up 56% this year and 365% in a decade, is a positive development: an unprecedented boom in the world economy...
Demand from China and India alone is expected to double in the next two decades as their economies continue to expand, with people there buying more cars and moving to cities to seek a way of life long taken for granted in the West."
Oil recently hit $100 a barrel and there wasn’t so much as a flinch. Then just a few weeks ago it hit a breathtaking $116 a barrel. Today I open the papers to read $121 a barrel! Outrageous. What’s worse is despite any pullbacks that may come about they’ll simply be temporary. Oil is going to keep rising to the point where we could see $150 a barrel this summer.
What’s worse…if we have a string of hurricanes, or one of our arch enemies in the Middle East decides to play supreme oil god and puts an embargo on oil to the U.S., it’s going to get far worse. Oil prices are already to the moon. Should there be any more hiccups it’s going to head straight for the stratosphere.
CIBC is already projecting $225 a barrel in four years. As for me, the way oil's been soaring, I think it'll be much sooner than they predict...
By The Canadian Press
24 Apr 2008 at 04:49 PM GMT-04:00
CALGARY (CP) — According to a forecast from CIBC World Markets, tighter supplies will drive crude oil over US$150 a barrel by 2010 and to US$225 a barrel in four years.
At CIBC World Markets, chief economist Jeff Rubin - one of the first to predict $100-a-barrel oil, which he did three years ago - updated a forecast he issued in January saying oil would hit US$150 a barrel within four years, raising that projected price by US$75.
Rubin said his group has “re-examined our projected supply increases” to discount expected rises in production of natural gas liquids, which he said account for virtually all the growth in global petroleum liquids production since 2005.
Gas liquids, “while valuable hydrocarbons, are not a viable substitute for oil and cannot be economically used as a feedstock for gasoline, diesel or jet fuel,” the new report says.
“Stripping out natural gas liquids, oil production has not grown for over two years, which certainly goes a long way to explaining why oil prices have doubled over that period,” Rubin said.
“Whether we have already seen the peak in world oil production remains to be seen, but it is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity.”
At Scotiabank, the overall commodity index has climbed 181.2% from its cyclical low in October 2001 - a stronger advance than the surge between 1972 and mid-1978. The Bank of Nova Scotia's commodity price index jumped by 5% during March to its third record high in as many months.
That report shows that rising energy costs - caused in part by soaring demand for oil from Asia and worries about supply reductions - will continue to drag down the economy.
“The oil and gas index soared by 11.8% in March, climbing above its previous peak in October 2005, and will rise further in April,” said Scotiabank economist Patricia Mohr.
Oil and mineral prices posted new highs in March, and crude oil has continued booming to a record of US$119.90 per barrel Tuesday on the New York Mercantile Exchange. On Thursday, crude prices hovered around $115.
“Recent news that Russian oil production dropped by 0.9% in the first quarter of 2008, the first year-over-year decline in a decade, set off another wave of concern over supplies to meet growing emerging-market demand,” Mohr said.
National average gasoline prices, now about C$1.23 a litre, will top C$1.40 a litre this summer and C$2.25 by 2012, according to the report.
In the United States, pump prices of regular gas jumped 2.3 cents Thursday to US$3.556 a gallon - or 93 cents US a litre - according to a survey of stations by AAA and the Oil Price Information Service.
North American gas prices have risen sharply in recent days partly because refiners have been switching over from selling winter grade gasoline to the more expensive but less polluting form of the fuel the government requires them to sell in the summer. That process, which made winter grade fuel more scarce, is nearly complete now, suggesting that price increases could slow.
“That was probably why... you saw (prices) accelerate so quickly,” said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J. “No, don't get used to these crazy increases.”
© The Canadian Press 2008
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