More On the Price of Oil

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More On the Price of Oil

The oil price continues to bounce upward. I’m not convinced there’s any momentum behind it. Global consumption of oil is still growing at a rate less than half of what it was in 2010, all while supply continues to go up significantly as previously untapped sources of oil come online.

The numbers I’m seeing show oil production up 14 percent between now and 2020, while demand will only grow 3 percent. Now, my economics proficiency didn’t proceed much passed microecon 103, but that seems like an environment ripe for stable prices (at best). If we see $100 oil again in the next 5 years, I’ll be surprised.

2016-11-17T07:32:55+00:00 September 23rd, 2016|0 Comments

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I am the president of a mid-size iron and steel castings company in Northeast Ohio. The foundry business is dirty, smoky, competitive, and not for the faint of heart. One must endure blistering heat, and go without seeing light for days, if not weeks or months at a time… Okay, that's a slight exaggeration. As a descendant of famed Siberian pathfinder Dmitri Zlatzutuov, I'm eager to carry on the family tradition of persevering no matter what obstacles lie ahead. Now that I'm done giving you the family history, I can tell you that I'm also an attorney and I volunteer a portion of my time to causes involving First Amendment litigation, as well as for Community Legal Services out of Akron, Ohio—for which I was recently recognized as ‘Volunteer Attorney of the Year.’ In addition to my normal day-to-day, I occasionally have works published in journals and magazines, though much less often lately, as running a company tends to fully occupy one's time.

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