Insight and inspiration in turbulent times.
Since about 1999 per capita world average oil consumption is increasing. This recovery, after a long decline through about 1980-2000, has strong implications for potential oil demand, and potential annual growth of world oil demand as we enter the period immediately preceding ‘Peak Oil’.
Limited spare capacity means that the ability of oil producers to meet the sharpest rise in demand since the 1970s is likely to be severely tested, according to experts attending an OPEC-sponsored seminar in Vienna.
Amory Lovins and the Rocky Mountain Institute have come up with a proposal to save American capitalism from the end of the age of oil.
The experts are calling for energy reforms. Why aren’t the politicians?
Ties together the cash-rich oil multinationals, US VP Cheney’s Energy Task Force, and the drive to privatise Middle East oil reserves via a war for ‘freedom and democracy’.
No matter when that peak occurs, though, the indisputable fact is that a few generations of humans—particularly we Americans—will have squandered a geological resource that took several hundred million years to accumulate.
High prices are unlikely to erode India’s booming demand for oil and the country has stepped up negotiations with producer nations to secure its energy supplies, said oil minister Mani Shankar Aiyar.
While sought-after commodities like oil can generate immense revenues for an exporting nation, they can also end up inflicting great damage on its economy and political culture.
IF THEY sound worried, it is because they are desperate. The multinational oil companies are rolling in cash but they have little to spend it on.
The world of crude has flipped upside down, with high prices becoming the norm, says the president of Devon Energy Corp., the largest U.S. oil and gas independent.
India Friday urged the Organisation of Petroleum Exporting Countries (OPEC) to adopt a uniform pricing policy for all buyers and not charge a premium from developing countries in Asia.
Oil prices may have fallen about 10 per cent from their high near $US50 a barrel in mid-August, but that’s not deterring fund managers, many of whom say the long bull run has a lot of life left in it.
