Over 95% of the movement of all people, goods and services is powered by oil. Economies collapse if the costs of transportation soar or, worse, if transportation ceases. Since 1974, the number of cars in the world is up 500%, total maritime tons shipped is up 350%, and air travel has risen nearly 2,000% (in passenger-miles). And the quantity of oil supplied from the Middle East is greater today. Of course, and consequentially, U.S. oil production is also greater (despite bygone projections that the U.S. had passed “peak oil”). The future growth for all these metrics will look a lot like their past growth.
(credit Mark Mills)
So- this is my justification for holding….
Over 95% of the movement of all people, goods and services is...
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$28.21 |
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| Open | High | Low | Value | Volume |
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| 4 | 63674 | $28.21 |
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