Crude oil, the lifeblood of the global economy, costs $61.67, even as the world struggles through the worst recession since World War II. And prices are rising, climbing 26 percent in the last month.
Archive for the ‘Peak Oil’ Category
IEA: No spare oil capacity at the end of 2013
The International Energy Agency (IEA) fears that an expected recovery in oil demand from 2010 and oil project cancellations due to low crude prices and the credit crisis will mean no spare oil capacity at the end of 2013.
Natural Gas as Answer to Oil Decline Could Lead to Catastrophe, Says Leading Expert
Ploughing resources into the use of natural gas as an alternative energy supply could lead to global shortage within 20 years time, according to a leading energy expert.
The Sleeping Threat of Low Oil Prices
Oil prices in the high $30s to low $40s are nothing short of a ticking time bomb under the world economy, but you wouldn’t know it from watching the commodity markets. Once the global downturn slashed $100 off the price of a barrel, the issue of oil supply seemed to simply fall off the radar of market observers. Falling oil demand is all that anyone seems to care about, but we may pay dearly for taking our eye off the ball of supply.
Marvin Odum, the US President of Royal Dutch Shell worried aloud on
Whats next for Peak Oil
Isn’t that a question, though….
The Peak Oil story was never about running out of oil. It was about the collapse of complex systems in a world economy faced by the prospect of no further oil-fueled growth. It was something of a shock to many that the first complex system to fail would be banking, but the process is obvious: no more growth means no more ability to pay interest on credit… end of story, as Tony Soprano used to say.
There was a popular theory among Peak Oilers the last decade that the world would enter a
The Peak Oil Crisis: The Economic Rebound
A few years ago, peak oil was relatively easy to understand. At some point in the future, and estimates varied as to exactly when, oil production was going to start declining due to a combination of geologic and geopolitical factors, prices were going to rise precipitously and a massive civilization-wrenching paradigm shift would start as the world transitioned from oil to other forms of energy.
Natural Gas Price Fall May Be Limited, ’Bullish’ Bernstein Says
Natural gas prices may be supported by delays to new natural gas supplies and a possible slowdown in U.S. onshore output, Sanford C. Bernstein & Co. said.
Time to toll the warning bells
The crude world has now traversed the full distance. The inevitable has happened. The bubble has finally burst. Not long ago, the peak oil theory was in robust circulation.
Days’ Supply of Oil: Calculating Global Inventories
We easily have enough peanut-butter to last the Summer.” Problem: enrollment has risen from 1000 campers to 1400 campers, over that ten year period.
