cyclops

False Data Clobbers the Markets

Ozzy, have you seen the recent Zapata George report?

On August 28th a report in a Corpus Christi, Texas newspaper included a picture with this caption: “Tank trucks wait in long line Wednesday to load fuel at Magellan terminal in Fargo North Dakota.” For those who don’t know, Magellan Midstream Partners LP operates a network of pipelines and distribution terminals including one in Fargo.

The report went on to say that industry officials are mystified by fuel shortages at terminals in the upper Midwest in recent days. However, they are likely to have enough supplies for Labor Day weekend.

Folks, we reported a week ago that there were shortages of diesel in, of all places, northwestern Saudi Arabia. Last spring we reported that there was no gasoline in Australia and the big companies advertised in a Sunday paper to apologize. We also reported on the shortage of gasoline at the biggest refinery on Edmonton Row in Alberta Canada – all evidence that this is NOT a new occurrence!

Are you beginning to get the picture? It’s developing right before our eyes. There is only one reason for shortages of gas to be happening in so many places, and that’s because THERE ISN’T ENOUGH crude supply.

If you haven't heard me before, please pay attention because peak oil is behind us. Let me say that again…PEAK OIL IS BEHIND US! We now consume more oil every day then we produce, and that is not likely to change! The crude oil inventories that are worldwide and located in 10,000 different places have been absorbed through the second quarter. From here to the end of the year, the rubber meets the road “big time”. I must say this once again. “Now is the time to be long in oil, natural gas, coal, gold, silver and agricultural products.”
This is Zapata George

False Data Clobbers the Markets

Bottom line....yeah, for now!

Ozzy....I understand your frustration ;) Also know that there are none so blind as those who will not see...