Guideposts: The United States as a Petrostate?

You are receiving this email because you signed up to receive our free e-letter Gilder's Guideposts, or you purchased a product or service from its publisher, Eagle Financial Publications. [Gilder Guideposts] [Technology Report]( [Tech Report PRO]( [Moonshots]( [Private Reserve]( Guideposts: The United States as a Petrostate? by George Gilder and Richard Vigilante 01/10/2024 SPONSORED CONTENT [It Doesn't Matter if You've Got $500 or $5 Million to Invest...]( Warning: A "Black Swan" event is poised to blindside millions of Americans. Millions of high-paying, white-collar jobs will be lost. Dozens of businesses will go bankrupt. You need to prepare your finances now. It doesn't matter if you've got $500 or $5 million. [Click here for a first-hand look.]( The financial press has recently been celebrating that the United States has reached all time-highs in oil production. Some Republicans, accustomed to blistering Biden for crippling our oil and gas extraction fear losing an issue. Into this confusion steps the indispensable [John Tamny](, who points out the real reasons U.S. production is high, and they are not causes for celebration. Tamny makes two powerful points: - U.S. petroleum production rises only when global oil prices are painfully high. When the global price of oil falls below $60 per barrel (in today’s lamentably weak dollars) U.S. production declines precipitously. That’s because the average cost of extracting the oil from say, the Permian Basin (more than $40 a barrel) or the Dakotas ($50-$60 a barrel) makes the trade uneconomic at most U.S. well heads. - Dominating the nominal (USD) price of oil is not the supply of or demand for oil but the dollar. Weak dollar—> expensive oil; strong dollar—>cheap oil. [Millionaires Will Be Minted OVERNIGHT]( Legendary tech futurist who predicted the rise of Amazon, Netflix, and Apple YEARS in advance now says: “The biggest, most profitable technological advances in the future will ALL stem from this single breakthrough. Millionaires will be minted overnight.” [He’s revealing EVERYTHING here.]( You can see this latter point by comparing the dollar price of oil to the dollar price of gold as in the two graphs below (both free from [Macrotrends](). USD Price of Oil, per barrel, 1995-2023 USD Price of Gold, per ounce, 1995 to 2023 The graphs track reasonably closely: the value of the dollar, as measured by the gold price, dominates the dollar price of oil. We kept the periods to less than 30 years to keep the graphs readable. If you want to see a more depressing version, look at the same graphs but using, e.g. 1965-1985. It was not the Arab oil embargo that sent the price of oil soaring, but Nixon taking the dollar off gold. But for that disaster, a barrel of oil would be priced well below $10 today. The dollar strengthens when the U.S. strengthens, making investors want dollars. That makes oil cheap and thwarts U.S. production. [A.I. Is Reshaping Investing: Are You Prepared?]( Traditional investing is out the window – A.I. investing has arrived. This dual-patented generative A.I. can predict market trends 1–3 days in advance. [Join this FREE online A.I. training class to learn more>>Â]( When the U.S. weakens, so does the dollar. In a weaker United States, the portion of U.S. gross domestic product (GDP) earned from the extraction and sale of raw materials rises just as if we were some third world country digging ditches for a living. The strengthening of the U.S. domestic oil industry is an indicator of national weakness, and the chaos abroad in the world. That chaos is in no small part the result of the U.S. government funding wars it does not have the will to finish as in Ukraine and allowing our real enemies to run rampant shooting up shipping in the Red Sea. If the Republicans want an issue, maybe they should stick with that. Sincerely, [The Editors] George Gilder, Richard Vigilante, Steve Waite, and John Schroeter Editors, Gilder's Guideposts, Technology Report, Technology Report Pro, Moonshots, and Private Reserve About George Gilder: [George Gilder]George Gilder is the most knowledgeable man in America when it comes to the future of technology and its impact on our lives. He’s an established investor, bestselling author, and economist with an uncanny ability to foresee how new breakthroughs will play out, years in advance. George and his team are the editors of Gilder Technology Report, Gilder Technology Report Pro, Moonshots and Private Reserve. 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