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HSBC: World Running Out of Oil | ||
Oil prices recently spiked +10% based on a minor supply disruption from Libya.
But if HSBC's senior global economist Karen Ward is right, oil prices will be headed a lot higher.
Late last week, Ward said that world oil supplies are running out. If demand doesn't increase at all from current levels, there may only be 49 years of oil left.
49 years may sound like a long time, but demand is increasing. And according to Ward, that means oil supplies could run dry even sooner. Europe will be among the hardest hit, because it has very little of its own supply.
Investors are advised to seek oil production stocks in politically stable countries, like the U.S. or Canada. Canada has oil sands, and the U.S. has the Bakken oil pool.
The Bakken is an oil-rich region of the western United States that holds at least 4.5 billions of barrels of oil.
Investors have made some outstanding gains from Bakken oil producers. Shares of one emerging Bakken player are up 27% in two weeks. There could be another 25% gain coming as this stock reaches a fair valuation. But if oil prices spike higher, shares could move much higher. For more, click HERE.
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