Welcome to the Wealth Daily Weekend Edition — our insights from the week in investing and links to our most-read Wealth Daily and sister publication articles.
This weekend, the 6th annual Association for the Study of Peak Oil and Gas Conference will take place in Washington, D.C.
Attendees will have the chance to rub elbows with respected peak oil experts and listen to a panel of international speakers who will discuss the complex socioeconomic and geopolitical impacts of peak oil on economies and the future of energy.
Among the distinguished conference guests who will gather on Capitol Hill are former CIBC Chief Economist Jeff Rubin, former Secretary of Energy James Schlesinger, policy expert Ralph Nader, and climate and energy advocate Bianca Jagger.
A host of peak oil scientists will be joined by U.S. Representative Roscoe Bartlett, and energy analysts, including Dr. Bob Hirsch, Dr. Roger Bezdek, and Charlie Maxwell.
This meeting will, no doubt, clear up any misunderstanding of peak oil — something I’ve written about several times over the last few weeks, as I am hell-bent on clearing up the general misunderstanding among my readers and the public about peak oil (here, here, and here).
A conference such as this one should be a pre-requisite — a 101 class for the handful of anti-peak hacks that can’t tell the difference between easy-to-get-to and hard-to-get-to oil.
Jim Cramer might find a conference like this worthwhile.
He simultaneously doesn’t “subscribe” to the Peak Oil Theory (his own words), yet defines it at the same time:
“We’re not running out of oil at all. We’re just running out of oil that is easy to find and easy to get at. There are vast reservoirs, vast, far more than we need for multiple years. It’s just not where we want it. So I don’t subscribe to Peak Oil theory. What I do subscribe to is the cost of oil is going to be so much higher that the cost of oil is never going to come back below $40 ever again.”
It’s true that we have a couple trillion barrels here in the United States. There are 500 billion barrels in Orinoco tar sands, and another 170 billion in the Alberta tar sands.
But no one ever said we were running out of oil… It’s just getting increasingly harder and more expensive to find and extract.
When oil fell to $40 a barrel and the prices at the pump went down, we all cheered. But you won’t get much oil out of the pump at $40 a barrel.
Heck, you can’t expect the average oil company to pull crude out of the ground that cheap.
Look at what happened to the Alberta tar patch when oil plunged… More than $50 billion of investment was pulled almost overnight.
Just to pull oil from the Canadian oil sands can cost up to $70 to $80 a barrel. Deep water drilling efforts can run $50 to $60 a barrel.
Futuretalk on Capitol Hill
The conference aims to build awareness of an energy crisis and the reality of our livelihoods, economy, and national military in a world without an ever-flowing source of cheap sweet crude.
“Petroleum is being consumed four times faster than it is being discovered. It’s time for the government and society to recognize the crisis. Immediate, bold action is required in the areas of conservation, mass transit, new technologies and lifestyle changes,” according to the conference press release.
You can find more information and registration details about this three-day event here.
As always, below are the week’s best profit ideas from the pages of Wealth Daily and Energy and Capital.
Ian L. Cooper
The Nixon Shock: The Biggest Shock to Gold Since Nixon
Editor Christian DeHaemer tells you how to profit from the biggest commodity move since Nixon took the dollar off gold in 1971.
Commodities are Poised to Head Higher: The Global Tide is Turning
Editor Steve Christ takes a look at emerging market demand and falling currencies as the recipe for the second leg of the commodities bull market.
Good News is OK, Bad News is Better: Investing in a Schizophrenic Market
Analyst Adam Sharp breaks down QE 2.0 and why it’s good for gold.
Don’t Miss this Investment Webinar: Must-See Investment Know-How PLUS a Brand-new Free Trade
Most people think profiting from options requires years of investment experience or a seasoned stock broker… That’s why people are losing thousands of dollars every day. Our in-house options expert has put together a FREE guide detailing an options strategy that’s so easy, anyone can become a confident, successful options trader. He’ll even throw in your first free trade!
Top 13 High-Dividend Paying Energy Stocks: This Baker’s Dozen Pays You 8% to 12% Annual Yields
Editor Luke Burgess gives investors a list of 13 high-dividend paying energy stocks.
Lithium Demand Outlook: You Can’t Go Wrong with this Trade
Ian Cooper talks about Global lithium demand and investment and offers a few ways to profit.
Gold Fever: How Nevada Just Changed the Future of Gold Mining
One Nevada-based mining exploration company rewrites the rules on gold mining — just as the global economy gears up for what may be the biggest gold rush in history — setting the stage for blockbuster gains for in-the-know investors.
Walmart Bets on Thin Film Solar: WMT Ushers in the Solar Future
Editor Nick Hodge discusses Walmart’s thin film ambitions while taking a broader look at the entire sector.
China’s Greek Bailout: 3 Stocks to Own on China’s Greek Bailout
Editor Jeff Siegel identifies three solar stocks that could benefit from China’s Greek bailout.
Secret Nuclear Meeting Heating Up the Sector: A Rendezvous 54 Billion Fed Dollars
An unauthorized photo… A story buried by the mainstream media… Hushed meetings behind closed doors between a tiny American nuclear outfit and the Korean government… They could all add up to one thing: a $36,950 return on your investment in this energy company by July 2011.
The World’s Most Destructive Currency Terrorist: The Fallout of Alan Greenspan’s Toxic Legacy
Editor Greg McCoach examines the toxic legacy of Alan Greenspan’s irresponsible monetary policy, and how gold, silver, and other precious metals must inevitably rise as a result of the former Fed chairman’s dubious currency manipulation.
Iraqi Oil Wildcatters: Time to Loot the Oil Fields of Iraq
Christian DeHaemer tells you who is stealing Iraqi oil, where the plunder is going, and how you can grab your share.