Intel Barter

Recent middle-east’s turning of events have been nothing short of a spectacular loop in the media.

While I don’t disagree with the importance of security in middle-east; I do disagree on the importance and relevance of their economical and social impact on the markets around the world.

CANADA, MEXICO, SAUDI ARABIA, NIGERIA, VENEZUELA, IRAQ, ANGOLA, BRAZIL, ALGERIA, COLOMBIA, ECUADOR, RUSSIA, KUWAIT, UNITED KINGDOM, and ARGENTINA. These are the top 15 countries we import Crude Oil from respective in the amount; largest beginning with Canada. Results from the end of last quarter in 2010.

Listed nations above are in very good relationship status with Unites States, and to remain so for the distance in the foreseeable future. They are also stable and secure in terms of social satisfaction and progressing economical prosperity.

This entire middle-east uprising in terms of oil production in no more volatile than the BP oil rig crash last year. Here is a fun math equation on our oil consumption, production and imports.

rounded to the nearest million

Consumption 19
-Production 9
-Import 11
———————
Left over 1 million bbl/day

United States only shows ‘Oil – proved reserves’ which is “…high degree of confidence to be commercially recoverable…” But what about this 1 million bbl/day that is left over. Annually then there is 365 million bbl/ day left in real reserves, over a decade 3650 billion bbl/day that is put in reserve. Now I’m sure that there is many more years which have gone on with this whole scheme, so I’m pretty confident that the whole oil price fluctuations is all but a wonderful work of capitalism.

If there is money to be made and there is a way, you can bet sure that speculation will take its way.