via Clusterstock by Mamta Badkar on 3/23/11
The world may have bounced back from the last week's Fukushima-Libya driven chaos, but as David Rosenberg of Gluskin Sheff notes, there are several unknowns still out there about the global macro picture.
There are so many crises playing out right now, that it's difficult to keep track of all the potential implications.
Rosenberg has outlined 10 you need to monitor, and we have them for your here.
#1 Where's oil headed?
David Rosenberg: Despite the success of the Allied air raids, Libyan oil production is not coming back for at least six months and the situation in Bahrain could hit an acute stage; there are more upside than downside risks to the oil price.
Continuing unrest in the Middle East and increased demand in Japan has driven up oil prices.
#2 And what about the liquefied natural gas market?
David Rosenberg: Japan was already the number-one importer of liquefied natural gas (LNG) and this status will be accentuated as replacements for a damaged nuclear grid is sought.
Qatargas has already demanded that European countries pay higher prices for LNG on higher demand in Asia, specifically Japan. Brunei, Sakhlin and Nigeria have shipped LNG to Japan, as has Shell.
#3 What is nuclear power's fate?
David Rosenberg: Nuclear energy development takes a near-term hit here by the politics of the Japanese crisis but not a permanent hit (weekend FT editorial was spot on with this file), but in the interim natural gas and coal should really benefit.
The disaster in Japan at Fukushima spurred German chancellor Angela Merkel to shut down 7 nuclear power plants in Germany. Italy and Switzerland have suspended plans to build nuclear plants.
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