U.S. Crude Hits Record Levels
According to the American Petroleum Institute, US petroleum deliveries reached a 3 year high, averaging 18.9 million barrels per day last month. These figures represent a 1.7 percent increase from last year.
As for supply, the figures are even more impressive – the U.S. produced more domestic crude in July than any other month in the last 22 years. Crude production averaged about 7.4 million barrels per day, representing and increase of 17.4 percent from twelve months earlier. July was the 9th consecutive month that the U.S. has produced more than 7 million barrels per day.
As the growth rate of crude production continues to out-scale the rate of demand, the U.S. is importing a diminishing about of oil. July imports were at about 9.7 million barrels per day, down 2 million barrels per day since July 2012, and at the lowest level in 17 years.
The Next Big Trend in Consumer Tech
Consumer tech can be incredibly lucrative for investors. From the time the iPhone was first released, Apple Inc. (NASDAQ: AAPL) shareholders saw gains up to 712%. Those of us who get in on the next big trend are likely to see similar levels of growth.
Since the introduction of desktop computers in the 1970’s there has been a consistent trend towards portability in personal computing. The next step in this trend is already on its way with the introduction of wearable devices. From Google Glass to the smarwatches, technology will become more pervasive than ever, and it is best we get ahead of the market.
For more on these trends, and the investing opportunities that come with them, click here.