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Fears aside, the Black Gold Will Prevail

Commodities / Crude Oil Feb 12, 2013 - 01:56 PM GMT

By: Submissions

Commodities

Brentt Taylor  writes: As snowstorms rage in the U.S. Northeast, heating oil rose to its highest level in almost four months prompting discussions and predictions over the likelihood of heating oil becoming an increasingly sought-after commodity in the next few years.

Such talks have also impelled speculations about global warming being a real threat in the near future. If the cooling trend of the past few years will continue, it is unlikely that heating oil will become a superfluous commodity any time soon. If the cold winters of the past decade persist, the demand for oil will intensify and consequently push oil prices up.


For any investor who wants to make money: look at actual demand, not demand concocted by politicians. The development of alternative energy resources is important for a variety of reasons, but not always essential. For example, global temperatures have been declining for more than 10 years, and global temperatures will likely continue to decline for another two decades or more. In 2000, the UN’s IPCC projected that temperatures would rise by one Celsius by 2010. Was the estimate a result of science or political science used to justify industry-strangulating regulations?

Writing in 2010, Don Easterbrook, Professor Emeritus of Geology at Western Washington University, argued that global temperatures would decline by 2010. He made that prediction because he knew the Pacific Decadal Oscillation (PDO) had become cold in 1999. Every 25 to 30 years the oceans experience a cycle in which the cold water from below replaces the warm water at the surface.

The fact remains, oil is still the most economically feasible energy source and it would be an unenviable task for any incumbent politician running for reelection to preach about the nobility of green energy as an alternative to that cheap black gold most Americans living in cold climates refer to as a life-saving substance. Investors: Listen to scientists, not political scientists - Listen to the actual demand, not the political demand.

Oil is not about to run out any time soon and it would be unwise for any country to abandon it for the fear of global warming which, after all, does not seem to be such a well-warranted fear if recent studies and weather patterns are any indication.

Author’s Bio: Brentt Taylor is a professional writer with a focus on finance and economy. He is currently writing for Banc De Binary. You could reach him at bren@saveonmoney.org

© 2013 Copyright Brentt Taylor - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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