- From The Patriot survival@charter.net
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- Dear Daily Reckoning Reader,
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- Saddam Hussein is going down. George W. Bush has already
announced his intention. For many the question is not "if," ...
but "when". Even the most sensible voice in the cabinet, Secretary
of State Colin Powell, has made it clear that Iraq is the next U.S. target.
Why?
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- As a Daily Reckoning reader put it this week on the discussion
board: "Iraq: It's so obvious."
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- With 112 billion barrels of oil, at least according to
Oil and Gas Journal, Iraq has the second largest oil reserves in the world.
And although you may not be aware of it... 90% of Iraq's oil exports --
24.2 million barrels a month -- already go to the United States. Only
the "invasion strategy" appears to remain in question.
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- Now, here's a fact that should be fairly obvious to all
readers...
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- Arab Wars = Oil Profits
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- It's simple. Conflict in the Middle East invariably leads
to higher oil prices. Consider recent history:
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- * The Yom Kippur War, 1972 -- fought between Israel
and its Arab neighbors, it quadrupled the price of oil, from $3 to $12
a barrel.
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- * The Iranian Revolution, 1978 -- effectively removed
one of the world's kingpin oil producers and pushed oil prices
from $12 a barrel to $24 a barrel. * The Iran/Iraq War, 1980 -- jump-started
oil prices again, sending them from under $22 a barrel to over $35!
* Iraq invades Kuwait, 1990 -- propelled oil markets into the stratosphere.
The price of crude climbed from $20 a barrel to over $35 a barrel.
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- In each case, investors who caught the move early made
fortunes. So the question seems to me to be: What are you going to do
about it?
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- I'm writing you today to suggest that if you want to
position yourself to take advantage of the coming oil profits, I can recommend
no better advice than that of John Myers.
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- You may recall the man, the myth, the legend... his portfolio
is already so strong in the year 2002 that The Hulbert Financial Digest
has recently profiled Myers as one of the leading resource investors in
the newsletter industry. And in August, Forbes.com published a lengthy
interview with Myers asking: "Your portfolio has gained 32% the first
half of the year. How did you do it?"
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- The answer is quite clear. Myers is the insider's insider.
He grew up in the resource business. "As a 14-year-old living on a
farm outside of Calgary," the Forbes interview begins, "John
Myers says he turned $20,000 into $150,000 over five years by buying Canadian
and South African gold. At his father's recommendation, he bought the bullion
at $35 and didn't sell until it reached $650.
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- "No surprise, then," Forbes continues, "that
Myers -- still living in Calgary and now editor of John Myers' Outstanding
Investments -- is a poster boy for investing in natural resources."
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- By knowing the industry inside and out, Myers has consistently
turned profits from crisis situations... the electricity crisis in California
two years ago... the natural gas shortage that plagued the East Coast last
winter... and as he told the Forbes crew: "Gold has been especially
strong [for us this year]. We took profits to the tune of 668% on Metallica
Resources and 162% on Intrepid Minerals. We've also done well with some
of our intermediate oil companies like KeyWest Energy, up 41% for us, and
Canadian gas pick Niko Resources, which gained 102%."
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- Right now -- as we speak - Myers is adroitly positioning
his readers for quick profits from Gulf War II and the coming oil crisis.
Don't hesitate to join them; click here to read your free copy of Myers'
special report:
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- Vengeance, Blood and the Coming Oil Crisis http://www.agora-inc.com/reports/OST/RealityCheck
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- Cheers and good luck,
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- Addison Wiggin, The Daily Reckoning
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- P.S. What if war doesn't break out? If the invasion never
happens? Oil is still a good bet. As Myers demonstrated in a guest essay
on Tuesday, if oil were priced at 1980 prices and adjusted for inflation,
we'd be looking at 94 bucks a barrel, rather than $27 that it's priced
at today.
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- P.P.S. "In the 1970s and '80s I was working for
my father, the founder of Myers Finance & Energy," recalls Myers
about his life-long love affair with resource profits. "When the bullets
started flying, we started buying, making a fortune for our subscribers.
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- "Then in 1990, I was the MFE publisher, and I jumped
into the oil markets as hard and fast as I could. Over the next six months,
we watched our oil stocks rise 100%, 200%, even 300%. And now it is happening
again. But this time it's even bigger.
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- "I've been warning my readers about this situation
for months. In fact, June 15, 2001, I wrote to my readers quoting Saudi
Arabian Crown Prince Abdullah who said, "'We are sitting on a powder
keg that could blow up at any time.'" He wasn't kidding.
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- Now is the time to position yourself for the quick profits
sure to come from Gulf War II and the coming oil crisis. Read your free
special report today:
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- Vengeance, Blood and the Coming Oil Crisis http://www.agora-inc.com/reports/OST/RealityCheck
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