Elliott Gue: Saudi Arabia Doesn't Want Oil Prices to Rise..Yet?
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Jason Burack of Wall St for Main St had on returning guest, oil and natural gas expert, Elliott Gue. Elliott writes the oil and natural gas newsletter, https://www.energyandincomeadvisor.com/, Energy & income Advisor with Roger Conrad. Elliott's bio can be found here: https://www.energyandincomeadvisor.com/author/elliottgue/ During this 40+ minute discussion about the oil market, Jason starts by congratulating Elliott about his oil market call in December 2014 the last time he was on the show, when he said oil would to go $40/barrel and stay around those levels for at least 12 months. Elliott proved to be correct about his call on oil. Jason then talks about how resilient oil producers in the US, specifically US shale producers, have been able to stave off bankruptcy. Elliott says US shale producers like EOG Resources and others have been good with drastically cutting costs to the bone in order to survive this crash in oil prices the last 2 years. Elliott thinks oil will stay in a low trading range between $40-$60/barrel for at least another few years. Elliott says this will be a bathtub shape bottom rather than a V shaped recovery in oil prices like in 2009. Elliott says that in the long term this means a lot higher prices for oil because over $150 billion in investment in future oil supply has already been cut and billions more will be cut replacing produced reserves. Jason also asks Elliott about the Saudi Aramco IPO, why Saudi Arabia needs the money and how Venezuela's poor economy and political situation could affect their oil production. To wrap up the interview, Jason asks Elliott which oil companies still offer the best risk/return for value without the likelihood of going bankrupt if oil prices start going lower. If you were thinking of diversifying into oil or are interested in the oil market, this is an excellent in depth discussion of one of the world's largest and most important markets. Please visit the Wall St for Main St website here: http://www.wallstformainst.com/ Follow Jason Burack on Twitter @JasonEBurack Follow Mo Dawoud on Twitter @m0dawoud Follow Wall St for Main St on Twitter @WallStforMainSt Also, please take 5 minutes to leave us a good iTunes review here! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437 If you feel like donating fiat, Bitcoin, gold or silver, Wall St for Main St accepts donations on our main website. Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it!
Comments
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Do you believe that electric cars will disrupt oil, putting the price of oil below $10 a barrel?
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When you can't fight with bullets you can always fight in markets...
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Peter Schiff says dollar down, commodities up. Seems logic to me. What sort of a dollar are we talking about here?
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Please change the soundtrack accompanying your open titles. It's so discordant!
You produce a noteworthy channel, why continue? Please consider commissioning the composition of sound more appropriate. -
BTW J is a goner, too top heavy. IMHO
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great show, great intro
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I have a feeling something else is going behind closed doors and none of us have any clue to what that might be i just find it hard to believe the most valuable traded commodity on the planet can plunge that fast In that short amount of time.. Point is there is another game being played and feel will be on the loosing end of this game
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Great Interview! You might want to share this with Max Keiser who states that the "Fracking Industry is a Complete Fraud" needing close to or above $100+ Per Barrel to Break-Even. He also states that they are also over estimating the "Useful Life of a Well" to up to 10-Years in their "Loaded Stock Offerings" when they are only 2-4 at best. His point is that the Crooked Investment Bankers have just loaded new Stock Offerings when Oil took off to promote Fracking with this false premise of savings. Maybe now the Executive Staff is living of "Dumb Money" and just spending it down? Most would like to see a downturn stick like Gold has been suffering through as Gas seems affordable right now. People wont soon forget $4.50 a Gallon Gas when the supply and price could not have been much different than now? Never met an Oil Man or Woman who wasn't Cocksure, lets see, until now. The School of Mines is in town and their new Graduates cant buy work in this Industry now. I cannot think of an Industry that causes more trouble that this one. Hang out at a Convenience Store and see the working men and women coming in and counting out change to buy a Gallon to get to work. This Industry is the "Essence of Corporate Greed, International Shenanigans and just Changing People Lives" by their ridiculous greed. They have had their way over the past 5+ years until the recent downturn. They have no shame.
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Love your show...hate the minute long intro music.
54m 15sLenght
45Rating