A ship passes near part of the Cantarell oil platform of Mexico's state oil company Pemex, near the city of Ciudad del Carmen, Campeche. (Victor R. Caivano/AP Photo) From The Wall Street Journal:
LONDON -- The slowdown in investment in oil and gas production could lop off nearly 8 million barrels a day of future oil supply growth, setting the stage for another big crude price spike in the years to come, according to a new study.
The global credit crisis and falling oil prices have squeezed oil companies' finances and forced many of them to cut capital spending and postpone projects. That could have big implications for supply when the global recession ends and demand for energy recovers, the report by Cambridge Energy Research Associates says.
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My Comment: Yup .... it is definitely the time to now start buying gold.
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