For the last few days, the press has been full of stories about the possibility of oil reaching $100 a barrel this winter. As prices have been bouncing around in the low $80s for the last couple of weeks, another $20 increase will do it. The theory behind the $100 […]
Tag: demand
The Peak Oil Crisis: A Meeting to Remember
On Tuesday, Oil Ministers from the OPEC countries gathered in Vienna to decide on production levels. It turned out one of the more remarkable meetings that OPEC has held in recent years.
The Peak Oil Crisis: The Quiet Time
On the surface, very little happened during the past week. Hurricane Dean did little damage to oil production and the next major hurricane of the year has yet to form. Oil prices gyrated in the low seventies in response to changing credit crunch news. For a while, Wall Street decided […]
The Peak Oil Crisis: The Credit Crunch
Last week the price of oil went down, down, down, until Friday when word arrived that a tropical wave, which could turn into the first serious storm of the 2007 hurricane season, had just slid off the Africa coast.
The Peak Oil Crisis: Is Anyone Listening?
The U.S.’s gasoline stockpile situation is quiescent at the minute as we wait to see how much foreign gasoline our oil companies can find to import this summer and whether the Atlantic will start spinning hurricanes toward our shores as forecast.
The Peak Oil Crisis: Twin problems
As we move into June, we are still confronted with a pair of energy crises that have the potential to upset our way of life. At the global level, worldwide oil production has been stagnant for the last two years. This is true for all the various kinds of liquid […]
The Peak Oil Crisis: Alarms Are Sounding
Across the world alarm bells are starting to clang. Above every gas station, a large sign is proclaiming that prices are on an unstoppable climb towards un-affordability. In Paris, the International Energy Agency has announced that the demand for oil is likely to exceed the supply later this year, unless, […]
The Peak Oil Crisis: Week Twelve
For three months now, US gasoline stockpiles have been dropping steadily. Nationwide, gasoline prices jumped 10.2 cents a gallon last week to an average of $2.97 and $3.46 around San Francisco.
The Peak Oil Crisis: The Perfect Storm
Events move quickly these days. Two months ago oil was north of $78 a barrel and, nationwide, gasoline was above to well above $3. The Middle East was threatening a conflagration and another exciting hurricane season was in the offing. Even the concept of peak oil was starting to get […]
The Peak Oil Crisis: A Report to the Senate
Last fall Australia’s Senate, concerned about the future of the country’s oil supply, directed a standing committee to conduct an inquiry. The Committee was charged with investigating projections for the production and demand for oil inside Australia and globally, and the implications for the availability and price of transportation fuel. […]
