However, the gold:oil ratio today shows that it is not yet a major factor for prices.
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Their specialized techniques, production leases, and lower steam-to-oil production ratio, make CVE well-suited to harvesting the northeast Athabasca oil sands deposit.
For example, Tel Aviv-based Ratio Oil Exploration just two years ago employed a handful of employees and was worth less than a million dollars.
Now oil is again outside the oil-gold price ratio band, slightly, and this time to the other side.
When the oil-gold price ratio is outside that box, something is askew.
From its peak in the mid-1970s, the ratio of oil revenue to population moved against Venezuela, partly because migrants flooded in from poorer neighbouring countries.
For long-term investors, the oil-to-gas ratio is indicative of a paradigm shift in the markets.
So from a financial perspective, the oil-to-gas ratio is very different than in terms of energy.
Thanks to this flood of shale gas, the oil-to-gas ratio has risen to almost 17 on average.
It is significant, then, that Shell relies on gas for 48% of its fossil fuel production by energy value, while the corresponding ratio at other giant oil companies is between 37% and 41%.
It is significant, then, that Shell relies on gas for 45% of its fossil fuel production by energy value, while the corresponding ratio at other giant oil companies is between 37% and 41%.
As for the investors, who have been hit for note repayments, they allege Rothschild knew Minoco was drilling in areas where there would be a high hit ratio but never enough oil to make the deals profitable, let alone repay the loans (FORBES, Nov. 19, 1984).
We do believe, though, that the current trend will continue for years to come, with the oil-to-natural-gas ratio ranging between 15 and 20.
Natural gas was selling in the teens then, in roughly a 1:6 ratio to the energy value in a barrel of oil, and pricing was proportionate.
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The ratio has been depressed recently by a run-up in oil prices but will surely recover.
It has a yield of 1.6% with an expense ratio of 0.19%, and gives one good exposure to the major oil companies.
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