The Peak Oil Crisis: A Winter Update
The recent growth in the “oil” production has been nowhere near what had been normal prior to the “Great Recession,”…
The recent growth in the “oil” production has been nowhere near what had been normal prior to the “Great Recession,”…
Today it is especially difficult for most people to understand our perilous global energy situation, precisely because it has never been more important to do so. Got that? No? Okay, let me explain.
It took major storm damage and record floods to get energy prices off the front pages, but any ministers hoping for a brief respite on the turmoil over energy policy will be no doubt disappointed.
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.