The situation is not good. Our average gasoline price just climbed past $4 a gallon and all indications are that it will continue to rise. After Goldman-Sachs made headlines by telling us that oil is going to $150 or maybe $200 a barrel in six months or maybe two years, […]
Tag: crude
The Peak Oil Crisis: The Case for 2008
It is conventional wisdom for most of the people following the peak oil story that we still have a few years to go before the real troubles begin. Some say 2011, others 2015 or later, but in general, among those calculating the depletion vs. new supply balance most have been […]
The Peak Oil Crisis: Revolt Of The Teapots
In China, small privately or locally owned oil refineries are called “teapots.” Unlike the giant ones that refine hundreds of thousands of barrels each day, these little fellows typically process about 10,000, but taken together, they produce some 10-15 percent of China’s refined products. Reduce the teapots’ production and you […]
The Peak Oil Crisis: Virginia
It has been a busy week on the peak oil front. On Monday, former U.S. Secretary of Energy and Defense, James Schlesinger told the world peak oil meeting in Ireland that, indeed, imminent peak oil is for real and we should get on with doing something about it. On Tuesday, […]
The Peak Oil Crisis: Approaching The Cliff
Last weekend across southern South Dakota the pumps went dry. Gas terminals from Sioux Falls to Yankton to Sioux City were empty. “There is simply not enough fuel coming down the pipeline into the delivery system” said a BP station owner. Eventually the tankers were sent to Nebraska to find […]
The Peak Oil Crisis: Situations To Watch
Evidence is mounting that oil prices will soon climb to new, perhaps unaffordable for many, highs. Some think “soon” is three, four, or five years away. Others think “soon” may be as close as three, four, five, or six months. It is this latter scenario in which oil and gasoline […]
