Oil Begins To Move Lower

Recently, we posted a multi-part research post suggesting a collapse in Crude Oil could be setting up and how we believe this decline in energy prices may lead to a broader market collapse in the near future.  Crude oil fell more than 3% on November 19 in what appears to be a major price reversal.  On November 20, inventory levels and other key economic data will be presented – could the price of oil collapse even further over the next 60+ days?

Here is a link to our most recent multi-part article about Crude Oil from November 13 (just a week ago): https://www.thetechnicaltraders.com/what-happens-to-the-global-economy-if-oil-collapses-below-40-part-i/

Our original research chart from July 2019

Our original research post, from July 2019, included this chart showing our Adaptive Dynamic Learning (ADL) price modeling system and where it believed the price of oil would go in the future.  This chart highlights expected price ranges and directions all the way into April 2020 with a low price level near $25 somewhere between February and April 2020.  Is Oil really going to reach a low price near $25 ppb in the near future?

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Automakers Flash Warning Over Supplies Of Critical Metals

By Stefan Gleason – Re-Blogged From Silver Phoenix

While motorists continue to enjoy the benefits of a longstanding supply glut in crude oil, car manufacturers are becoming increasingly worried about shortages. Not in liquid fuels, but in metals.

The automotive industry requires certain strategic, rare, and precious metals. Without them, batteries for electric cars wouldn’t function and catalytic converters for gasoline engines wouldn’t work.

Many of the metals that play a critical role in both conventional and electric vehicles now face potential supply shortfalls.

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Norwegian Oil Pioneer: Big Oil’s Exodus Has Started

Smaller independent oil and gas producers will have more opportunities to develop resources on the Norwegian Continental Shelf (NCS) because in ten years’ time all oil majors except state-participated Equinor will have left Norway’s offshore, the head of a small Norwegian oil firm told Reuters on Tuesday.

“I don’t think we will have any majors on the Norwegian continental shelf in 10 years. Equinor will be the only one left because of the state’s ownership,” Erik Haugane, co-founder and chief executive at OKEA, told Reuters on the day on which the company’s stock started trading on the Oslo Stock Exchange, after a successful completion of an initial public offering (IPO).

5 Ways to Save Money on Your Prescriptions

[Really good ideas, to which I’ve added suggestions of my own below. -Bob]

By Lynn Allison – Re-Blogged From Newsmax Health 

Drug prices are soaring but you can save money on your meds by following these tips from a leading expert.

According to NBC News, the cost of many popular prescription drugs has increased substantially in the U.S. during the past six years and experts say that the trend will continue.

In fact, the cost of 36 of the most popular brand-name drugs increased over 50% during that time period. Recent big pharma research shows that the cost of drugs for common conditions such as diabetes, arthritis, and cancer will continue to soar.

5 Ways to Save Money on Your Prescriptions

Silver Miners’ Q4’18 Fundamentals

By Adam Hamilton – Re-Blogged From Silver Phoenix

The major silver miners have rallied higher on balance in recent months, enjoying a young upleg. That’s a welcome change after they suffered a miserable 2018. Times are tough for silver miners, since silver’s prices have languished near extreme lows relative to gold. That has forced many traditional silver miners to increasingly diversify into gold. The major silver miners’ recently-released Q4’18 results illuminate their struggles.

Four times a year publicly-traded companies release treasure troves of valuable information in the form of quarterly reports. Required by the US Securities and Exchange Commission, these 10-Qs and 10-Ks contain the best fundamental data available to traders. They dispel all the sentiment distortions inevitably surrounding prevailing stock-price levels, revealing corporations’ underlying hard fundamental realities.

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Weekly Climate and Energy News Roundup #336

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” ― John Stuart Mill [H/t Matt Ridley]

Number of the Week: $1,096/MWh – An increase of 22 times

USGCRP Prophecies: On November 23, the US Global Change Research Program (USGCRP) released the second volume of its two-part series on human caused global warming. The first volume. the “Climate Science Special Report (CSSR)” supposedly discussed the physical science but was largely confined to projections from poorly tested global climate models and physical events unrelated to increasing carbon dioxide. The current release came in time for the upcoming 24th Conference of Parties (COP-24) of the UN Framework Convention on Climate Change (UNFCCC) in Katowice Poland. According to official announcements, this conference will additionally include “the 14th session of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (CMP) and the third part of the first session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 1-3)” – international bureaucratic science at its best.

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Texas Oil Surge Threatens OPEC

By Bloomberg – Re-Blogged From Newsmax

The map lays out OPEC’s nightmare in graphic form.

An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel.

OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day.

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States Rush to Rein In Prescription Costs, and Drug Companies Fight Back

By Robert Pear – Re-Blogged From NY Times

States around the country are clamping down on pharmaceutical companies, forcing them to disclose and justify price increases, but the drug manufacturers are fighting back, challenging the state laws as a violation of their constitutional rights.

Even more states are, for the first time, trying to regulate middlemen who play a crucial role by managing drug benefits for employers and insurers, while taking payments from drug companies in return for giving preferential treatment to their drugs.

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Twenty-four states have passed 37 bills this year to curb rising prescription drug costs, according to Trish Riley, the executive director of the National Academy for State Health Policy.CreditJulio

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Soaring Fuel Costs, Falling Crop Prices Punish Global Farmers

By Thomson Reuters – Re-Blogged From Newsmax

Farmers worldwide are feeling the pinch as fuel costs rise to near four-year highs just as they plant and harvest their fields, eroding agricultural income already hamstrung by depressed crop prices.

The agricultural sector from the United States to Russia, and Brazil to Europe, is seeing profits harmed by the rise in diesel prices. The global oil benchmark, Brent crude, touched $80 a barrel for the first time since late 2014 on Thursday.

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Vancouver Gasoline Hits $4.77 a Gallon, Tops in North America

By Bloomberg – Re-Blogged From Newsmax

Vancouver sits less than 750 miles from the Canadian oil sands but it may as well be on another continent for vehicle drivers.

Gasoline prices in the Pacific Coast city hit C$1.62 a liter ($4.77 a gallon) on Monday, the highest in North America, according to Dan McTeague, a senior petroleum analyst at GasBuddy, which collects real-time fuel prices from more than 140,000 gas stations on the continent.

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The Coming Silver Supply Crunch Is Worse Than You Know

By Jeff Clark – Re-Blogged From http://www.Silver-Phoenix500.com

For data wonks like me, the annual Yearbooks from various gold and silver consultancies make for fun reading. You can always find little gems about what’s going on in the markets, and sometimes you can spot changes in trends early on. Seeing a compelling chart, especially one that’s not been widely reported, is almost as exciting as seeing my wife in a short skirt on date night.

Well, I’ve got a series of charts for you that point to a silver trend that is so entrenched in its development, so inevitable in its outcome, so inescapable in its consequences that it comes as close as one can get to a guarantee. And once fully underway, it will have major implications for the silver price, along with the availability of investment metal.

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Origin of Fracking Dates Back to the Civil War

By John Manfreda – Re-Blogged From Business Insider

Over the past decade, the biggest story in the US energy sector has been hydraulic fracturing, also known as fracking.

This drilling technique has enabled oil and gas producers to extract oil and natural gas from shale rock, thus increasing oil and gas production inside the US.

Media pundits have claimed that this form of oil and gas extraction is a technological breakthrough, which has enabled the US to become the world’s largest oil and gas producer, and will enable the US to become energy independent by the year 2020.

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Global Gold Supply Flat

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

China gold production falls by 9% to 420.5t in 2017
– Chinese gold demand rose 4% to 953.3t in same period
– China is largest producer and accounts for 15% of global gold production

– China does not export gold. Increasing foreign gold acquisitions to meet demand
– Global gold production flat – 3,269t in ’17 from 3,263t in ’16, smallest increase since ’08
– Peak Gold is here: supply set to fall gradually while global demand remains robust

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Volatility of the Copper Markets Combined with the ‘Trump’ Effect

By Stuart Edwards – Re-Blogged From http://www.Gold-Eagle.com

Much like other commodities, traders have always devoted a certain level of attention towards copper. There are two key reasons for this observation. First, this red metal is highly indicative of industrial demand and therefore, the health of domestic economies. Secondly, political policy shifts and fiscal plans can have a knock-on effect in regards to its pricing. We have witnessed a great deal of volatility during the past few months and while the medium-term outlook remains positive, many are wondering if a support level will soon be reached. Let us take a look at the root causes of this volatility as well as what to expect in the coming months.

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