I’m no expert: A common man’s view on oil supply and prices

I’m no expert: A common man’s view on oil supply and prices

You can read any daily energy report, or watch it on TV.  Energy market reporters almost always state some reason why the market moved the way it did.

In reality though, they don’t know why the market moved exactly, so they retroactively fit some plausible causes for the market movements observed. If they could actually and accurately determine commodity markets and pricing, they would be billionaires, not analysts working for investment firms.

Economics can be a very complicated subject. Supply concerns in my opinion, are just as subjective as market prices. There is plenty of oil in the earth. Producing it is just up to people’s decisions.

Some interesting data I found on the web shows prices for a gallon of gas per country. This is interesting because you always hear how the price of oil dictates the price of gas at the pump.

The statistics I found illustrate Turkey appears to pay the most at $9.98/gal, while Venezuela pays the least at $0.04/gal.  The United States’ average price per gallon is illustrated at $3.52/gal. I guess I don’t feel so bad now after pulling up to the pump and paying $3.39/gal this morning on my way to work.

Regardless of the current oil prices, oil and gas companies are hiring.  My personal prediction is the oil and gas industry is an excellent career path for the foreseeable future.

Jason RogersBusiness Development/Account Manager
The Global Edge Consultants

The Global Edge Consultants is a full service firm specializing in the recruitment of technical and project personnel for industries such as Government, Oil and Gas, Petrochemical, Chemical, Engineering, Power, Nuclear and Manufacturing. Check out our careers page!

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