Bob Willis: “Robust Optimism” About World Oil Crisis

Bob Willis Discusses World Oil Crisis

For more than three decades, Bob Willis–founding principal, managing director, and chief investment officer of Willis Investment Counsel in Gainesville, Georgia–has honed his expertise in macroeconomics. In other words, he has been a dedicated student of economic problems and advancements in numerous countries, not just in his native United States.

So Bob emerged as the ideal guest for my weekly radio interview program– “The Communication Corner,” hosted by WBCX-FM, “The Voice of Brenau University”–when I needed someone to help our listeners understand the current international oil crisis.

We opened our discussion with a nostalgic review of former eras when gas prices remained moderate, with little fluctuation. Next, we talked about times of scarcity–such as the Second World War and the early 1970s. More recently, the BP disaster in the Gulf of Mexico reminded us we cannot take oil and gas stability for granted. Naturally, our opening comments then focused on the Middle East crisis, with Libya front and center on the news stage.

Among the major topics we explored during our 60-minute interview:
–OPEC’s role in the world oil situation
–SPR (Strategic Petroleum Reserve). . .a resource intended for extreme emergencies only
–Impact of speculators on oil prices
–How an average national gas price of $3.51 per gallon affects consumer spending
–Surprisingly large role of Canada as an import source of oil for the U.S.
–Surprisingly small percentage of oil the U.S. imports from Libya
–What’s behind the oil price jump from $35 to $107 per barrel?

Near the conclusion of the interview, Bob Willis stated that he and his investment team share “robust optimism” about the economic climate. As he observed more than once, “The United States has proved its resilience throughout its history, and will do that again now.”

HEAR BOB WILLIS’ EXPLANATION OF THE WORLD’S OIL SITUATION
Just click the arrow below in the Podcast section of this blog page, located just above the Audio MP3 lettering.

VISIT BOB’S CORPORATE WEB SITE
You’ll find valuable information about Willis Investment Counsel on the firm’s Web site, including Bob’s contact information. Here’s the link:
http://www.wicinvest.com

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