September 17th, 2010 
Category: 
Welcome to the weekend edition, a small collection of links to interesting personal finance related articles and economic news from around the web.
World Energy Congress 2010
It’s been a great week for my portfolio; I have been crystallizing gains and building the reserves for redeployment to new emerging opportunities. I love the fact that the market is just sitting there with no direction. On the other hand, we might see a breakout to the north or to the south. In both cases, I am ready.
This year the World Energy Council is holding its congress in Montreal. The most striking news to come out of it was the speech of Saudi Arabia’s Aramco Oil CEO Khalid-al-Falih:
“Even though the share of fossil fuels in the energy mix may decline over the longer term, the absolute quantities of energy from these sources will continue to rise simply because total energy demand is set to expand so significantly”
He is bluntly saying that the world probably will rely for decades to come on fossil fuels, mainly oil, natural gas and coal. While I am disappointed with that view because we are wrecking havoc on our beautiful planet, I intend to squeeze every penny from the consumption growth of fossil fuels, especially for oil and gas.
Further reading on the economy:
USA’s poverty rate reaches highest level in 51 years
Comparing Chinese And U.S. Capitalism
Allure of Home Ownership Dims, Fannie Mae Survey Shows
China Shifts Away From Low-Cost Factories
On to our weekly blog roundup:
Invest It Wisely: Enter the Six Month Giveaway Contest!
Watson Inc: When is Paying Down Your Mortgage a Bad Idea?
Money Smart Life: Mortgage Refinancing Mistakes
Money Smarts Blog: The High Cost of Being Frugal
Canadian Finance Blog: Basics Of The Smith Manoeuvre
Buy Life Buffet: Pharmaceutical Stocks Worth Owning For The Dividend Alone
Frugal Zeitgeist : Highest Paying Jobs, No Degree
Squirrelers: China as an Emerging Economic Power: What do You Think?
Enjoy your weekend folks!
My DIY stock portfolio is overweight in Canadian oil producers for a reason. I believe Oil consumption is on the path of growth for the next decade and I intend to take every advantage possible of it:
Hey Mich,
Thanks for mentioning us.
We’re very glad to have found Beating The Index. Not too many Canadian blogs out there about trading junior resource companies, so you’ve certainly picked a great niche. Apologies if I missed this post (as I’ve only just begun reading your site) but do you use technical indicators to get in and out of stocks – if so which ones?
Have a smashing weekend!
Thanks for the link, Mich!
Mich, Thanks so much for the mention!!!!
[...] This post was mentioned on Twitter by Arjun Rudra, beatingtheindex. beatingtheindex said: Weekend Edition: The World Energy Council http://t.co/sOWvFA7 via @BeatingTheIndex [...]
Hey Arjun,
I am glad my passion turned out to be in this niche. It’s really a pleasure for me to blog about this subject.
I use a combination of variables like fundamentals, catalysts and price action to set my entry/exit points. I do not use any technical indicators even though the chart helps me sometimes set an exit point.
Have a great weekend!
Hey Mich, thanks for including our post on mortgage refinancing mistakes!
Thanks for the inclusion!
Interesting what he said! I used to live in Montreal, miss that city!
Thanks for linking my blog
.
Thanks for the mention!