Wed, 7 March 2018
Raghee Horner believes that there's huge profits to be made trading the energy sector. A lot is going on there. The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. U.S. crude production is expected to reach a record of 12.1 million barrels a day in 2023, up about 2 million barrels a day from this year, said the International Energy Agency, which advises governments and corporations on industry trends. American oil output will surge past Russia, currently the world’s largest crude producer at about 11 million barrels a day. The IEA’s closely watched five-year forecast showed the U.S. hitting new strides in its oil and gas boom, helped by technological advances, improved efficiency and a fragile recovery in oil prices that is encouraging shale companies to ramp up their drilling. Once heavily dependent on imports from the Middle East, the U.S. is getting closer to achieving its goal of producing enough crude to meet domestic demand for refined products like gasoline. Of the 6.4 million new barrels of oil that will be pumped every day between now and 2023, almost 60% will come from the U.S., the IEA said. American influence on global oil markets is also expected to rise, with U.S. oil exports more than doubling to 4.9 million barrels a day by 2023, according to the IEA. Until 2015, the U.S. didn’t export any crude oil by law, but in five years it is expected to be among the world’s biggest exporters. |
Wed, 7 March 2018
President Trump's recent imposition of steel and aluminum tariffs will have unforeseen consequences. Are subsidies the preferred method of addressing the issue of these declining industries? John believes that a trade ware will endanger the economic recovery. A better move for these workers to do a big infrastructure program to put these rust belt residents back to work. What do we do to shut off that giant sucking sound of American jobs heading to Mexico? The tax bill will cost the Republicans some seats in the house come the mid-terms, however, it's a real plus for the economy. Will steady wage increases be the result? Let's wait and see. And John recounts the Fight of the Century, the first Ali-Fraizer fight. |
Wed, 7 March 2018
The Trump tax plan is already showing benefits. Companies are bringing jobs back to the US. This should result in higher productivity and therefore higher wages, which will no doubt lead to higher consumer prices. In fact, we're already seeing that happen. Regulatory roll-back is well underway. Dodd-Frank will be receiving a long awaited overhaul, something both parties have agreed upon. The stock market is an open question and it remains to be seen where it will go in the next few years. |
