Peak oil notes – Feb 6
Crude has traded quietly this week with New York futures hovering around $97.50 a barrel where they have been for the last two weeks and London around $106 a barrel.
Crude has traded quietly this week with New York futures hovering around $97.50 a barrel where they have been for the last two weeks and London around $106 a barrel.
My question to the Brits: if you could turn the clock back, would you allow all your oil to be produced at the maximum possible rate, earning the amount of export dollars you did, if it meant that within a generation you would be back to being an oil importer paying roughly five times as much per barrel?
A weekly update including: Oil and the Global Economy, The Middle East & North Africa, China, Quote of the Week, The Briefs.
Oil prices have remained flat this week with New York trading around $97 and London around $107 per barrel.
US still dependent on the global oil market despite increased production.
By now you’d think we’d be planning cautiously and conservatively for America’s energy future. But thanks to the federal government’s latest report on domestic energy, most everyone is again assuming that there’s plenty of oil and nothing to worry about. Here’s why it’s dangerously wrong.
A weekly review including Oil and the Global Economy, The Middle East & North Africa, China, Quote of the Week, The Briefs
Energy round-up including peak oil, what next for UK shale gas, and wind power records.
New York oil futures continued to fall this week, closing on Wednesday at $92.33 a barrel which is $8 a barrel below the recent highs seen the last week of December.
Mark Twain once said, "It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so." And, there are many, many things that the public and policymakers know for sure about energy that just ain’t so.
The key take-away from the US EIA’s Annual Energy Outlook released one week ago jumps out in the graph below: US crude oil production should peak in 2016 at a level 26% higher than that projected just one year ago.
A weekly review including: Oil and the Global Economy, The Middle East & North Africa, The EIA’s Annual Energy Outlook, Quote of the Week, The Briefs.