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We've had a difficult time of it in the oil world recently as we tumble through a massive market sell-off at large.
At the beginning of November, we experienced the steepest drop in oil prices since 2015, and in the days since, the charts continued to drop significantly.
This has created an unpleasant – but not entirely unexpected – downward mountain slope.
A couple days last week allowed for some resurgence in the markets as oil began to creep back up, but Dec. 6, prices dropped once again.
As I've mentioned before, volatility is the nature of the beast, though the downward action of the past few weeks has been a bit more violent than usual.
But there's no reason to panic.
The oil market is alive and well, in spite of recent ups and downs.
Far from just fueling our cars, buses, trains, and other methods of transportation, oil has a huge role in just about every aspect of modern life.
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And when it comes to oil's most significant role in our everyday lives, there's no place like home…
Winter Is Coming
After a blistering summer, we're abruptly moving into winter territory a bit earlier than usual.
Much of the country experienced ice and snow well before we celebrated our annual Thanksgiving feasts.
Although I'm here in sunny Florida, my team in Baltimore are having a harder time.
The Farmers' Almanac 2019 Winter Forecast has predicted a frigid winter coming our way with colder-than-normal conditions and above-normal snowfall.
Not to mention this winter will linger as long as it possibly can, all the way up to its last gasp at the beginning of spring.
Which means that across the country, space heaters and blankets are coming out of closets, fireplaces are stocked with wood, and central heat is cranking up.
And that brings me to the importance of oil.
Without the oil industry, your winter hibernation wouldn't be nearly as comfortable.
Now, I could go on for days about the importance of oil to heat your home, but this time, I'm going to hand the baton over to someone else…
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About the Author
Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk assessment, and emerging market economic development. He serves as an advisor to many U.S. governors and foreign governments. Kent details his latest global travels in his free Oil & Energy Investor e-letter. He makes specific investment recommendations in his newsletter, the Energy Advantage. For more active investors, he issues shorter-term trades in his Energy Inner Circle.