Salient to Investors: IEA Chief Economist Fatih Birol said: The U.S. will be the largest oil producer of the world around 2017, the largest producer for about five years starting about 2020, after which Saudi Arabia will become the biggest producer again by 2030. US oil imports will drop to 4 million
READ MORE... →Salient to Investors: The IEA said: The US will overtake Saudi Arabia as the world’s leading oil producer by about 2017 and will become a net oil exporter by 2030, and become all but self-sufficient in meeting its energy needs in about two decades. Global energy demand will grow between 35 and 46
READ MORE... →Salient to Investors: The IEA says natural gas will overtake oil as the most-used fuel in the US by 2030. Unconventional gas, extracted from shale and coal beds etc, will account for almost half of the increase in global output of the fuel by 2035. US production will rise 23 percent
READ MORE... →Salient to Investors: Money managers said fears that the US economy will slow as Obama and Congress fail to avert the fiscal cliff are overblown. Volatility across markets has declined, signaling investors are less worried about the economic outlook. Bettina Mueller at Deutsche Bank is astonished the market is turning so quickly, and expects
READ MORE... →Salient to Investors: Gilles Sitbon at Sycomore Asset Mgmt said people are waiting for one thing that could make the market go down – if nothing happens, then you can get a grind higher. Money managers said fears the economy will slow as Obama and Congress fail to avoid the fiscal cliff next
READ MORE... →Salient to Investors: Two states voting to legalize recreational use of marijuana marks the beginning of the end of the war on drugs – which has cost $1 trillion over the past four decades. The OECD says the US has over 3 times as many prisoners per capita as it did in 1980, and 10 times as many as
READ MORE... →Salient to Investors: Alice Rivlin at Brookings said the lesson of Europe is, don’t wait until you’re in a crisis to act and austerity is not a good prescription for weak economies. Rivlin said the US has the luxury the Europeans don’t, no pressure in the financial markets. Mohamed El-Erian at Pimco said the fiscal cliff would
READ MORE... →Salient to Investors: William D. Cohan writes: We were either naive or stupid to believe Obama’s “change you can believe in” included Wall Street. Robert Rubin protegés were appointed to the three most important economic positions in Obama’s first term: Treasury secretary, national economic adviser, and director of the OMB. Other
READ MORE... →Salient to Investors: The S&P 500 remains up more than 9% since January 1, 2012, and up 12% in the last 12 months. Corporate profits and revenue are in a fundamental contraction so it’s natural for the market to be held back. Any sitting president has very little influence on the
READ MORE... →Salient to Investors: Jim O’Neill writes: Nothing has materially changed by the US election and the Chinese leadership handover. The positive surprise in Korean exports in October indicates a pick up in world trade. Japan reported its first seasonally-adjusted current account deficit following other generally grim economic news. It is
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