The United Kingdom has Six Years of Oil Before it Runs Dry…
The UK is running out of oil.
According to the latest Oil & Gas UK activity survey:
The UK’s proven oil and gas reserves within existing and planned developments have plummeted to 5.25bnboe, the equivalent of just six years production.
The reserves have dropped by more than 40% of the past four years, from a height of 9.2 bnboe at the start of 2006. It is clear that oil has peaked in that part of the North Sea.
Not that the UK can’t find oil… the industry says that there are 25bnboe remaining. But due to a high petroleum revenue tax — as well as high extraction costs — this hard-to-get-at oil will cost more than you can sell it for.
According to Oilonline.com, the UK will still rely on oil and gas for 70% of its energy needs in 2020.
Oil Demand Continues
Oil demand in western countries like the UK and the United States is expected to moderate over the next five years, but in China and other emerging markets, it is expected to continue to grow dramatically.
According to Arab Petroleum Investment Corporation:
Emerging markets are set to spur a shift in worldwide oil consumption, with a projected demand of 9.9 million barrels per day from now until 2015.
I’ve discovered one company that is riding this sweet spot, set to profit from the decline of western fields and the rise of demand from China.
This company sits on China’s northern border and is up 100% since I recommended them two months ago. This is my favorite stock at this time and I believe it could easily go up more than 1000% — and that’s a conservative estimate. They will start pumping oil as soon as the temperature is warm enough (should be a few weeks from now.) You don’t want to miss this. Click here to find out more.
