Oil Wars, Devaluations, Revolutions and Shooting Wars

David Murrin in Murrinations –

The sun is setting on the oil sector as we know it. Yesterday oil hit our $27 target after what the press has described as an oil war between Russia and Saudi Arabia. I described and predicted this impending collapse of the oil sector in my January Murrination The Impending Collapse of The Oil and Gas Sector. So what next? To answer that question allow me to start with the origins of oils importance.

In 1904, HMS Spiteful became the first warship to be powered solely using fuel oil rather than coal. Oil produced more energy per KG than coal so that it could power bigger ships, faster for longer and refuelling became a much easier process.

By 1906 this new more powerful propulsive system had become reliable enough to be included in the game changing HMS Dreadnought, launched at Portsmouth, which started a global navel arms race. From that point onwards, oil became a geo strategic resource and the desolate deserts of the middle east became a critical component in geopolitics….

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About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Known as a coalition builder, he has participated in election campaigns and legislative efforts in the United States and several other countries.
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