• Latest
  • Trending
  • All
The Big Oil Comeback

The Big Oil Comeback

January 22, 2021
Veterans Day Message from President Trump

Veterans Day Message from President Trump

August 1, 2022
Navajo Code Talker Samuel Sandoval dies

Navajo Code Talker Samuel Sandoval dies

August 1, 2022
#VeteranOfTheDay Marine Corps Veteran Victor “Brute” Harold Krulak

#VeteranOfTheDay Marine Corps Veteran Victor “Brute” Harold Krulak

August 1, 2022
Trump supporters attempt world record boat parade near Clearwater Beach

Trump supporters attempt world record boat parade near Clearwater Beach

August 1, 2022
Veteran honored for once-secret role in WWII ‘Ghost Army’

Veteran honored for once-secret role in WWII ‘Ghost Army’

August 1, 2022
Helping a Fellow Vet with Disability Claim : Veterans

Helping a Fellow Vet with Disability Claim : Veterans

July 31, 2022
Table Tennis 1. European Championship1995 Vienna (Wien)Veterans Orlovwki Dvoracek Tischtennis

Table Tennis 1. European Championship1995 Vienna (Wien)Veterans Orlovwki Dvoracek Tischtennis

July 31, 2022
Low-Cost Tech Shaping Modern Battlefield > U.S. Department of Defense > Defense Department News

Low-Cost Tech Shaping Modern Battlefield > U.S. Department of Defense > Defense Department News

July 31, 2022
The Army won’t lower its standards again to meet recruitment goals

The Army won’t lower its standards again to meet recruitment goals

July 31, 2022
Coast Guard veteran held without bail in ID theft mystery

Coast Guard veteran held without bail in ID theft mystery

July 31, 2022
British Normandy Memorial opens on D-Day anniversary

British Normandy Memorial opens on D-Day anniversary

July 31, 2022
Vietnam Veterans Memorial Wall Stories

Vietnam Veterans Memorial Wall Stories

July 31, 2022
Wednesday, March 22, 2023
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
198 Veterans News
No Result
View All Result
  • Home
  • Global Veterans
  • USA Veterans
  • EU Veterans
  • Canadian Veterans
  • Australian Veterans
  • Asia Veterans
  • African Veterans
  • Veteran Supports
  • More
    • Global Veteran Supports
    • Veterans Nonprofits
    • Veterans Sponsors
    • Sponsorship
    • Veteran Blogs
    • Veteran Books
    • VIP videos of Veterans
198 Veterans News
No Result
View All Result
Home Asia Veterans

The Big Oil Comeback

by The Editor
January 22, 2021
in Asia Veterans
243 10
0
The Big Oil Comeback
Share on FacebookShare on TwitterShare on Email

[ad_1]

Every week brings another spate of headlines about the heavy blows soon to rain down on the energy sector…

“The Oil Collapse ‘Death Spiral'” is coming soon…

And… “Oil Prices Might Never Recover.”

Apparently, very soon, we will all ditch our gasoline-fueled cars and trucks for Tesla knockoffs. The slow-growth U.S. economy and the rising number of wind- and solar-energy installations around the world will supposedly finish the job.

Boom! Petroleum is “the new coal.”

Don’t believe it. In fact, we may well be entering a new golden era for oil investing – all because of a certain country in Asia with a five-letter name…

If you want to know which economy will have the single largest impact on the global price of oil – and why we will continue to look at the oil sector as an important part of any investment strategy – all you have to do is look at what’s happening in India.

India – with a population of 1.3 billion and a gross domestic product (GDP) growth trend that’s now rising at a faster pace than China (7.5% versus 6.9% in 2015) – is still in the early stages of a massive love affair with crude. And considering that it needs to import about 80% of what it consumes, it’s a love affair that’s growing literally by the month.

In September, oil imports rose nearly 12% compared to year-ago levels. It was the same in August (a 9% increase) when the country brought in a record of nearly 19 million metric tons of crude – the equivalent of nearly 4.5 million barrels a day. By comparison, China, with a more developed economy and nearly 1.4 billion people, imports around 6 million barrels a day.

As the International Energy Agency (IEA) recently noted: “India is taking over from China as the main growth market for oil.”

At the current pace, the country is on track to raise yearly imports by 7% for the second time in a row, having doubled its crude oil imports in a decade’s time.

What’s driving all the demand?

It’s a familiar story – a small, but rising middle class (which makes up about a fifth of India’s population now, say demographers, but is expected to swell to more than 40% by 2030).

And new cars. Lots and lots of new cars.

In 2015, passenger car sales rose nearly 10% to more than 2 million units, the fastest pace in five years. One of India’s largest carmakers, Maruti Suzuki, recently predicted annual sales would hit 5 million a year by the end of this decade.

Keep in mind, all of this is occurring against a backdrop in which the IEA, in its World Energy Investment 2016 report, said current oil wells around the globe are depleting by an average of about 9% a year. Discoveries of new oil reserves are “dropping to levels not seen in the last 60 years.”

Of course, it’s important to ask whether electric-vehicle sales might become a bigger factor and perhaps drain off India’s surging oil demand.

The answer, I’m sure, is yes. But when is anyone’s guess. As India’s Economic Times noted, the country has 400 million people with no access to reliable electrical power. And even in major cities, outages have been common because of a lack of investment in India’s power grid in prior decades. Without reliable power, even the fastest-charging, longest-range electric car or motorcycle is useless.

The situation is starting to change in India, but it’s going to take decades. In the meantime, oil remains the only practical game in town for investors and as a foundation for India’s rapidly developing economy.

[ad_2]

Source by Jeff L. Yastine

Tags: bigComebackOil
Share197Tweet123Send
  • Trending
  • Comments
  • Latest
Desmond inquiry: Lionel Desmond’s case manager at Veterans Affairs begins testimony – Halifax

Desmond inquiry: Lionel Desmond’s case manager at Veterans Affairs begins testimony – Halifax

June 22, 2021
Afghans, Canadian veterans in Alberta fear Taliban takeover will undo years of progress

Afghans, Canadian veterans in Alberta fear Taliban takeover will undo years of progress

August 14, 2021
Lionel Desmond inquiry: Veterans Affairs review cites delays, calls for changes – Halifax

Lionel Desmond inquiry: Veterans Affairs review cites delays, calls for changes – Halifax

June 25, 2021

Hello world!

1

Lady Gaga Pulled Off One of the Best Halftime Shows Ever

0

Barack Obama’s Now Mainly Focusing on Wearing This Casual Backwards Hat

0
Veterans Day Message from President Trump

Veterans Day Message from President Trump

August 1, 2022
Navajo Code Talker Samuel Sandoval dies

Navajo Code Talker Samuel Sandoval dies

August 1, 2022
#VeteranOfTheDay Marine Corps Veteran Victor “Brute” Harold Krulak

#VeteranOfTheDay Marine Corps Veteran Victor “Brute” Harold Krulak

August 1, 2022
198 Veterans News

Own and operated by The Ike Lemuwa Group, LLC a Commonwealth of Virginia Limited Liability Company, USA.
Info@nigeriasmartnews.com / info@ikelemuwagroup.com
Toll-Free: 1 888 642 8433
3821 Dominion Drive Dumfries, Virginia, 22026. USA

Trending News

Nicholas Charles Revello Plaintiff V.s Keren Laina Sangalaza Defendant

The Favorite Receivers of Miami Dolphins Quarterback Dan Marino

U.S., German Leaders Talk at Pentagon, Visit Carrier in Norfolk > U.S. DEPARTMENT OF DEFENSE > Defense Department News

Troops En Route to Afghanistan Aim to Help Remove Civilians, Pentagon Official Says > U.S. Department of Defense > Defense Department News

VFW Delivers Vietnam War Memorabilia, Artifacts to Defense POW/MIA Accounting Agency

Recent News

Veterans Day Message from President Trump

Navajo Code Talker Samuel Sandoval dies

#VeteranOfTheDay Marine Corps Veteran Victor “Brute” Harold Krulak

Trump supporters attempt world record boat parade near Clearwater Beach

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Policy
  • T & C
  • Contact

198 Veterans News - Copyright AllRights Reserved.

No Result
View All Result
  • Home
  • Global Veterans
  • USA Veterans
  • EU Veterans
  • Canadian Veterans
  • Australian Veterans
  • Asia Veterans
  • African Veterans
  • Veteran Supports
  • More
    • Global Veteran Supports
    • Veterans Nonprofits
    • Veterans Sponsors
    • Sponsorship
    • Veteran Blogs
    • Veteran Books
    • VIP videos of Veterans

198 Veterans News - Copyright AllRights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In