Russia raises oil export tax

LOS ANGELES — The Russian government plans to increase its oil export duty to a record $102.60/tonne starting Apr. 1. The duty has been $83/tonne since Feb. 1.

During December 2004 and January, the duty was $101/tonne, the previous highest level. Russia’s oil export duty is reconsidered every 2 months.

Forecasting the availability and diversity of global conventional oil supply (Summary)

An independent study has modeled various scenarios to project possible dates of global oil peak. The modelers used data from both the USGS and ASPO to reach their conclusion that ‘the answer to the question, “how much longer can we increase oil production?”, seems to be probably not much more than 30 years, and perhaps less than five.’