John Myers Archive
John Myers is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington. Email this author.
Autumn is nearly here, and I am reminded of stock market crashes and one near plane crash. The September equinox marks the anniversary of when my Uncle Richard and I fell from the sky in his Cessna 172. I haven’t had such a close call since, yet I have a lot of anxiety these days — not about flying, but about the stock market.
A couple of years ago, former oil maverick T. Boone Pickens launched an $82 million national advertising campaign to promote the Pickens Plan, an energy policy aimed at reducing the American addiction to foreign oil. Pickens faces only one problem: There is no viable substitute for oil and gas — at least not yet.
When it comes to defeating Islamic extremists, maybe President Barack Obama should take lessons from Hollywood bad boy Charlie Sheen. That way Obama could reach his younger constituency through the magic of YouTube.
What is truly unique to the 21st century is that we are running out of affordable crude oil, the fuel that propelled staggering economic growth during the previous 100 years. And while the wheeler-dealers in Congress can lift the debt ceiling with the stroke of a pen, all the king’s horses and all the king’s men can’t put oil back in the ground again.
America’s recovery has run out of steam. Job growth is nonexistent. Stock indexes cling to highs set earlier this year. Barack Obama’s moneyfest has failed to right America’s listing ship. The U.S. is facing a deflationary collapse worse than anything that has happened in 80 years.
Stock indexes went postal on Washington’s debt deal celebration. Last Thursday, the Dow Jones industrial average declined more than 500 points, its worst setback since the Crash of 2008. Then on Friday, Standard & Poor’s downgraded America’s debt from AAA to AA+. In response, the market suffered an even greater setback on Monday, with the Dow Jones industrial average falling 643 points. The sky is falling.
What really worries me about our future is the unknown that might jump up and bite us. Things that are not only unpredictable but are counter to anything we might expect. Essayist and practitioner of mathematical finance Nassim Nicholas Taleb has a term for unpredictable events: “Black Swans.”
Only once have I looked down the barrel of a gun. I can tell you it was damn disconcerting. It happened 25 years ago. The automatic rifles that were drawn on me then are pointed at America today. Yet President Barack Obama refuses to acknowledge that America is facing Middle Eastern guns.
With oil priced at just two-thirds of its highs set three years ago, President Barack Obama launched yet another spend-now-pay-later program. But this time the President has done it with something much harder to replenish than fiat dollars. He is spilling out the nation’s emergency crude oil reserves.
Sometimes, we are in danger because we are in the wrong place at the wrong time. Knowing what to do to avoid such a situation, or what you must do if you cannot, can be a lifesaver.