The Black Gold

“Crude oil is considered the "mother of all commodities"

‘’Approximately 50% of all the oil consumed in the U.S. is for the transportation industry.Oil consumed in the U.S. by driving is nearly two times that consumed by drivers in China and India combined’’

“OPEC countries hold over three-quarters of the world’s proven oil reserves, and that number is rising…”

The U.S. has over 200,000 miles of oil pipelines within its borders.

‘’Oil has been used by people for over 5,000 years”

Total daily oil production around

the world is 84,365,ai barrels a day

Total daily oil consumption around

the world is 84,249,000 barrels/day.

Oil is used to make common synthetic fabrics like polyester, nylon, vinyl and acrylic and Glycerin

Oil was first successfully drilled in the U.S. in Titusville, Pennsylvania, in 1859.

Cushing, Oklahoma, is the designated delivery point for NYMEX crude oil futures contracts

Crude oil was first pumped from the ground in Sichuan, China 2,500 years ago.

China’s Economy

American Shale

Elasticity of Demand

OPEC’s Next Move

Geopolitical Flashpoints

Russia’s Ability To Add Global Production

Russian Ability to Add to Global production

Year Nominal Price

Inflation Adjusted Price

1979 $25.10 $80.89

1980 $37.42 $107.36

1981 $35.75 $92.97

1982 $31.83 $77.94

1983 $29.08 $68.96

1984 $28.75 $65.36

1985 $26.92 $59.09

1986 $14.44 $31.09

1987 $17.75 $36.88

1988 $14.87 $29.73

1989 $18.33 $34.90

Year Nominal Price

Inflation Adjusted Price

1990 $23.19 $41.79

1991 $20.20 $35.02

1992 $19.25 $32.39

1993 $16.75 $27.39

1994 $15.66 $24.94

1995 $16.75 $25.96

1996 $20.46 $30.78

1997 $18.64 $27.43

1998 $11.91 $17.26

1999 $16.56 23.42

2000 $27.39 37.54

Year Nominal Price

Inflation Adjusted Price

2001 $23.00 $30.68

2002 $22.81 $29.92

2003 $27.69 $35.55

2004 $37.66 $47.04

2005 $50.04 $60.44

2006 $58.30 $68.27

2007 $64.20 $72.98

2008 $91.48 $100.00

2009 $53.48 $58.75

2010 $71.21 $77.10

Year Nominal Price

Inflation Adjusted Price

2011 $87.04 $91.37

2012 $86.46 $88.93

2013 $91.17 $92.40

2014 $85.60 $85.34

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Monthly Average Domestic Crude Oil Prices Inflation Adjusted to March 2015

Date Nominal Price

Inflation Adjusted Price

Jan-14 $87.82 $88.65

Feb-14 $93.44 $93.97

Marc-14 $93.66 $93.59

Apr-14 $95.20 $94.82

May-14 $94.82 $94.11

Jun-14 $98.18 $97.26

Jul-14 $95.46 $94.61

Aug-14 $89.20 $88.55

Sep-14 $86.07 $85.38

Oct-14 $77.44 $77.01

Nov-14 $68.62 $68.61

Dec-14 $47.25 $47.51

Date Nominal Price

Inflation Adjusted Price

Jan-15 $47.25 $47.51

Feb-15 $43.85 $41.38

Mar-15 $40.74 $40.74

Apr-15 $47.10

Date Nominal Price

Inflation Adjusted Price

Jan-12 $91.71 $95.54

Feb-12 $94.06 $97.55

Mar-12 $98.04 $100.92

Apr-12 $95.11 $97.60

May-12 $86.20 $88.56

Jun-12 $74.33 $76.48

Jul-12 $79.65 $82.09

Aug-12 $87.13 $89.30

Sep-12 $87.89 $89.68

Oct-12 $82.54 $84.25

Nov-12 $79.67 $81.71

Dec-12 $81.23 $83.53

Date Nominal Price

Inflation Adjusted Price

Jan13 $87.65 $89.88

Feb-13 $86.25 $89.91

Mar-13 $87.50 $87.47

Apr-13 $84.83 $86.14

May-13 $87.93 $89.13

Jun-13 $88.58 $89.58

Jul-13 $97.77 $98.82

Aug-13 $101.75

$102.73

Sep-13 $99.40 $100.24

Oct-13 $93.69 $94.72

Nov-13 $86.96 $88.10

Dec-13 $90.90 $92.10

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2014 2015 2016 (March)$ 59/bbl $ 45/bbl $ 40.66/bbl