Skip to main content

WILL PLUMMETING OIL PRICES DESTROY SUSTAINABILITY INITIATIVES ???



















Over 9 Million Barrels Served


By Phil Flynn

The Energy Report



Published November 14, 2014




REUTERS









Oil prices plunged as U.S. oil producers proudly served over 9 million barrels of oil per day. In a historic milestone, The Energy Information Administration reported that U.S. oil production went above 9 million barrels a day in the week ended Nov. 7 for the first time since 1983. If you want to know the main reason that oil prices have been plunging, it is because U.S. oil production continues to change the complexion of the world.




The rise in U.S. production and the drop in price are causing major problems for OPEC producers and are going to be testing their resolve. Saudi Arabia seems intent on directly going after U.S. oil producers by letting prices crash in a dangerous game of oil production chicken. Other OPEC members think this is madness and Iran, Algeria and Venezuela are going to appeal to all OPEC producers to try to build a consensus to stand up to Saudi Arabia’s production madness.




Yet Saudi Arabia is stubborn. They know it will take more than just an OPEC production cut to dwindle global over supply. They will need Non-OPEC producers to join them. That will be tough as Russia will need all its revenue as it fights its war in Ukraine and Mexico needs cash as well. 




Bottom line, by the time OPEC meets they will find a way to remove oil from the market place but the market is betting that it will be too little too late. Add to that the weakening global economy and a rising dollar is pressuring the market.




Still the market felt like it was capitulating a bit. Rising volume after one of the biggest oil routs in decades could rebound. If you want to try to stay short you may want to hedge the shorts with calls.




RBOB gasoline futures also hit a milestone, falling below $2.00 a gallon for the first time since September 2011. That means more price breaks at the pump in the coming weeks. 





The sell-off in oil bleed over to the stock market as oil and oil service stocks took hits. It also helped break natural gas. The natural gas filled the gap ahead of today’s EIA injection report which should see a 40 BCF injection. The weather outlook for natural gas is still bullish as we are expecting below normal temperatures for the foreseeable future. The weakness gave the market a chance to fill a gap on the daily charts.





Price Links Video series gives insight across the financial spectrum. https://www.youtube.com/playlist?list=PLDq9JQANqxRxCBaHqunzBT4Frxitjw-XV.















Phil Flynn is senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at pflynn@pricegroup.com. Learn even more on our website at www.pricegroup.com.




Popular posts from this blog

MEET MELANIA TRUMP: The 5'11" supermodel married to Donald Trump

Aly Weisman, INSIDER

Sep. 2, 2015, 3:28 PM 











Chip Somodevilla/Getty Images







While Donald Trump loves to be the center of media attention, his third and current wife, Melania Trump, is a bit more camera shy.










The Slovenian-born model keeps a lower profile than her husband, doing philanthropy work, raising their son, working on a jewelry collection with QVC, and creating a $150-an-ounce caviar moisturizer.




With Trump on the campaign trail, Melania has stoically stood by his side.




But who exactly is Melania and where did she come from? Learn about Trump's other half here ...





Melania Knauss was born April 26, 1970, in Slovenia.




Wikimedia/Getty







The 5'11" brunette began her modeling career at 16, and signed with a modeling agency in Milan at 18.



Chris Hondros/Newsmakers via Getty









She took a break from modeling to get her degree in design and architecture at the University of Ljubljana in Slovenia.








Wikimedia/Getty

Source: MelaniaTrump.com









But after graduating, her modeling career took off and Me…

THE MOST SOUGHT AFTER MANGOES IN THE WORLD ....

While "Flavor" is very subjective, and each country that grows mangoes is very nationalistic, these are the mango varieties that are the most sought after around the world because of sweetnesss (Brix) and demand.

The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???





In alphabetical order by Country....










India




Alphonso





Alphonso (mango)
From Wikipedia, the free encyclopedia








Alphonso (हापुस Haapoos in Marathi, હાફુસ in Gujarati, ಆಪೂಸ್ Aapoos in Kannada) is a mango cultivar that is considered by many[who?] to be one of the best in terms of sweetness, richness and flavor. 


It has considerable shelf life of a week after it is ripe making it exportable. 

It is also one of the most expensive kinds of mango and is grown mainly in Kokan region of western India.

 It is in season April through May and the fruit wei…

INDIA 2016 : Mango production in state likely to take a hit this year

TNN | May 22, 2016, 12.32 PM IST






Mangaluru: Vagaries of nature is expected to take a toll on the production of King of Fruits - Mango - in Karnataka this year. A combination of failure of pre-monsoon showers at the flowering and growth stage and spike in temperature in mango growing belt of the state is expected to limit the total production of mango to an estimated 12 lakh tonnes in the current season as against 14 lakh tonnes in the last calendar year.



However, the good news for fruit lovers is that this could see price of mangoes across varieties decrease marginally by 2-3%. This is mainly on account of 'import' of the fruit from other mango-growing states in India, said M Kamalakshi Rajanna, chairperson, Karnataka State Mango Development and Marketing Corporation Ltd.




Karnataka is the third largest mango-growing state in India after Uttar Pradesh and Maharashtra.



Inaugurating a two-day Vasanthotsava organized by Shivarama Karantha Pilikula Nisargadhama and the Corporation at P…