GOLD 0.51% $1,391.7 gold futures

Oil and Gold, page-76

  1. 1,937 Posts.
    I have no idea where you get that information from. I am quoting BP review of world energy numbers as at close of 2013.

    1) US imports 47% of total oil consumption (local product is 57% of requirements)
    2) US imports 10% of total gas consumption (local prod'n is 90% or requirements)
    (hard to understand 2) since a lot of US natgas flows to Canada ... apparently)

    Top 5 largest proved natgas reserves -
    1. Iran
    2. Russia
    3. Qatar ... then a country mile to
    4. Turkmenistan
    5. US
    (6 Saudi, 8 Venezuela)

    Trends in reserve growth (+,0,-) and net excess production (+,0,-) are where the most interesting stories are. So you don't have to be a genius to work out who are likely to be strategic players in all this.

    Purely in terms of geolocation - ME/Africa remains strategic to UK and Europe, Venezuela will be strategic to US/Mexico. Eurasia serves as a land corridor as well as an important reservoir corridor for other historical actors such as Turkey, India etc. This movie has a while to run yet IMHO.
    Last edited by Lighthouse: 29/11/14
 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.