Joseph Dancy: Global Oil Demand Accelerating−Especially from China, India and the Middle East
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Jim is joined by energy expert Joseph Dancy to discuss the global energy markets. Joe notes that recent IEA forecasts indicate global oil demand growth is accelerating, particularly driven by rapidly developing areas like China, India and the Middle East. Joe also notes that the recent Arab Spring uprisings may have long-lasting effects on limiting crude oil production growth in those areas. In addition, the North Sea oil and gas industry is now producing at half the 2005 production rate. Given these fundamentals, Joe expects more merger and acquisition activity going forward, with cheap proven oil reserves and very undervalued public energy companies.
Joseph R Dancy is manager of the LSGI Technology Venture Fund LP, a private mutual fund for SEC accredited investors formed to focus on the most inefficient part of the equity market. He is a Trustee on the Michigan Tech Foundation, and is on the Finance Committee which oversees the management of that institutions endowment funds. He is also employed as an Adjunct Professor of Law by SMU School of Law in Dallas, Texas, teaching Oil & Gas Law, Oil & Gas Environmental Law, and Environmental Law.