This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bolling: Emerging Solutions for the Oil Crisis

Then oil reversed yet again on Friday. This time, it was a combination of news that pushed oil upward. First, there were "several unnamed U.S. Officials" who confirmed that Israel had conducted dry runs with F-15s for a potential attack on Iranian nuclear infrastructure. Iran responded with a threat to the Israelis and the U.S.

Oh, and Nigerian rebels were at it again -- cutting off some pipeline movements due to their continued unrest with oil profit distribution.

Putting a lid on some of that rally was the fact that the Saudi's were holding a summit in Jeddah. Many producing nations were in attendance, including U.K. Prime Minister Gordon Brown, and our own Secretary of Energy, Samuel Bodman. All in all, 35 countries, 7 international organizations, and 25 oil companies were present. Quite an impressive group!

As expected, the producers blamed speculators and surging consumer demand. All agreed that we can manage this crisis with cooperation.

Then, the Saudis offered to supply more oil almost immediately-- very impressive, by the way. They also added that current production of 9.7 millions of barrels per day (mb/d) would be boosted to 12..5 mb/d by next year.

Most importantly, the Saudis said they could produce 15 mb/d soon after 2009 and even outlined which fields would provide the additional oil. That's outstanding news for the world - just my $0.02

The world's supply of oil is in both great shape and capable of increasing by several times the growth rate of demand. That alone will drive oil prices lower over time.
2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
RIG $10.15 -2.70%
AAPL $94.22 -1.00%
FB $117.76 0.28%
GOOG $697.01 0.67%
TSLA $227.67 -2.00%


Chart of I:DJI
DOW 17,660.99 -89.92 -0.51%
S&P 500 2,048.93 -14.44 -0.70%
NASDAQ 4,726.4480 -36.7760 -0.77%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs