You are probably well aware that the last few years have been tumultuous, to say the least, for the financial markets. Though the stock market tanked hard through the end of 2008 and into 2009, it has since recovered much of what it lost. Gold has performed nicely over the last few years, though not without some volatility of its own. If you invested in stocks from the end of the tech boom to the peak of 2007 (and hopefully got out then), you probably saw some nice gains in your accounts. In terms of dollars, you are better off, right? You’ve got more of them than you did before, right? But in terms of purchasing power, the true measure of wealth, how did you really do? (more…)
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The Dow/Gold Price Ratio Shows That Stocks Have Been Dismal for a Decade
Monday, August 30th, 2010Israel Finds Oil
Tuesday, August 24th, 2010In what certainly could become an interesting geopolitical twist in a volatile region, Ynetnews.com reported recently that Israel could be sitting on a significant oil reserve. From the Ynetnews.com article:
Could the State of Israel be sitting on an oil reserve that can provide energy, cash flow, and international political influence? This is the question that everyone is waiting to be answered in the engineering report ordered by Givot Olam Oil, overseeing the drilling at the Megged 5 site, next to Rosh Ha’Ayin.
The final report will be submitted on September 5. However, a preliminary report was already issued to Tel Aviv Stock Exchange on the oil reserves on the site. “The amount of oil in place in Rosh Ha’Ayin plot is estimated at 1.525 billion barrels of oil.” In previous reports, the quantity was appraised at only a few hundred barrels of oil a day.
Proven reserves are not necessarily recoverable reserves, as the article mentions, therefore it’s possible that only 10%-20% of the find could actually be pulled to the surface. However, this certainly is big for a nation that was seemingly denied oil wealth in an oil-rich region. (more…)
