Oil

How Prepared Am I For the Coming Shocks?

I often wonder how prepared I am for the overwhelming evidence that in coming decades the economy and society at large is going to face increased crisis over dwindling oil supplies with increased demand for energy, with climate change pushing our infrastructure and natural resources into crisis. β›½

I am carefully investing, taking advantage of grow of the economy. But what if people like Bill McKibbean and nearly ever other rational person is right — growth is not indefinite? πŸ“ˆWhat happens if the stock market and economy stop growing larger each year — at least over the long-range horizon. Then I guess I’m screwed, as most of my investments are market based — diversified yes, but still based on the premises of a forever growing economy.🌎

I do spend a lot of time reading and studying videos about bushcraft, off-grid living, hunting and fishing. I’m probably more comfortable in the wilderness then many Americans. But I’m no serious outdoorsman, I rely on the plastic bagged food and cheap oil as much as anybody else. If the markets are in a permanent state of collapse, the funding I need to buy land and my off-grid cabin will vanish.πŸ“‰

I am not willing to plunk a bunch of money into gold,Β  πŸ’° or other questionable assets. Even land or a house that I’m not going to use for a few decades seems like a bad investment. The market, carefully invested in a place is to be if you want to grow your money for tomorrow. But I think many people will be in the same boat as me if the economy permanently changes, although I think with careful saving, and no debt, I’ll still come out ahead.

And just as important as money, learning new skills, especially with natural resources and the basics that make up our world πŸ€”is invaluable in succeeding in an economy that may collapse in the future as pressures in the oil markets and climate change take their toll on society.

Oil prices are β€˜entering the red zone,’ warns International Energy Agency chief

Oil prices are β€˜entering the red zone,’ warns International Energy Agency chief

'We should all see the risky situation, the oil markets are entering the red zone." That warning comes from Fatih Birol, executive director of the International Energy Agency, in an interview with Bloomberg on Tuesday. He added that expensive energy β€œis back at a bad time, when the global economy is losing momentum. We really need more oil.” Birol’s words are important because the IEA advises industrialized nations on energy policy and coordinates emergency oil releases globally. On that point, Birol said the agency isn’t currently considering using its emergency reserves.

Trump’s request for OPEC to max out oil production may backfire – Houston Chronicle

Trump’€™s request for OPEC to max out oil production may backfire – Houston Chronicle

"If President Donald Trump gets what he wants from OPEC, it might not bring an end to the high oil prices he’s been complaining about for months. U.S. crude futures responded on Wednesday to the news that Saudi Arabia had joined Russia in pumping at close to record levels by rising 1.6 percent to $76.41 a barrel -- the highest since 2014."

"In his 30 years covering the oil market, Jefferies analyst Jason Gammel said he can’t recall ever seeing anything like the State Department request.'

β€œThis is the lowest level of spare capacity in the global system relative to demand that I’ve ever seen,” Gammel said in an interview on Bloomberg television. β€œSpare capacity is moving to a precariously low point” and $100-a-barrel crude is a realistic possibility, he said."