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Presenters:
Judy Ganes, Founder and President, J Ganes Consulting
Sharon Johnson, Senior Cotton Specialist, Knight Futures
Jack Scoville, Vice President and Senior Market Analyst, Price Futures Group
Please join ICE for a mid-year analysts’ roundtable on the cotton, coffee, sugar, cocoa and orange juice markets. The analysts will focus on market fundamentals, recent reports and the impact they may have on prices in the months ahead. You’ll also hear a same-day analysis of the USDA crop report for cotton. Whether you’re a position trader or a short-term trader, the roundtable can provide a context for your trading plans. The analysts will take your questions in a Q+A session included in the webinar
I was trading at FC Stone when this went down. They freaked out. They went from allowing these guys 2.5 million positions to telling me I couldn't have 10 far OTM short options in a 15k account. I closed all accounts there after that.
Here's a good example of why I don't trust anything that Phil Flynn (energy analyst) says.
He wrote,
"according to an Energy Information Administration-sponsored study released today. “Technically Recoverable Shale Oil and Shale Gas Resources" estimates that shale resources considered in conjunction with EIA's own assessment of resources within the U.S. indicate technically recoverable resources of 345 billion bbl of world shale oil and 7,299 Tcf of world shale gas."
So according to that number and assuming the world consumes 19 million barrels of oil per day, we then have 497 years of oil left or .04974765681 if you want to get technical."
I emailed him and said,
345 billion divided by 19 million is 49.7 years not 497 years.
But world oil consumption is 87 million bpd not 19. Where did you get 19?
The numbers just don't make sense here.... 345 billion = 345,000 million which divided by 19 million (or 87 million for world demand) comes to 18157.89 years (or 3965.52 years in case of 87 million).
I do not ever remember reading in any article related to oil mentioning about more than 100 or 200 years of oil supply in world left to extract. Per these numbers US alone has more than 3900 years of oil supply for entire world....WOW...