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Rising real yields will push gold and oil down trumping supply and demand for oil. Oil faces a further recession and demand risk and gold faces lower inflation risk. Click here for more.
Labyrinth consulting services and a contributor to oildrum.com. art, thanks for being with us this morning. first, let's ask you about this static kill operation, very similar to the top kill more than a month ago except now the top of that well is capped and we wouldn't see mud spewing out from it. the question many people have, with this relief well so close to being completed, why undergo this static kill operation? or at least even think about it? >> well, i think the reason that they're considering it is because they've yet to intercept the well bore. they're very close, a few feet away w...
Already leaving the gulf of mexico, going to other countries. they won't come back until contracts are over there. so this is really quite a serious issue for all of the people that are involved in the oil industry and the various service industries that provide them with the things that they need. there's also then estimates by the department of energy that suggest that we're going to see something like 80,000 barrels a day less oil in the future, or more, because of this moratorium. so we're going to be importing more oil as a result of the moratorium as well. >> inevitably potentially price...