Oil

The impact of the credit crunch on energy markets

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New projects are harder to fund. Highly leveraged companies are sometimes finding it necessary to shed assets. Some players are finding themselves to be the indirect casualties of other players, like Lehman, that have already failed. Long term, we will probably see consolidation and lower production than would have been the case without the credit crunch. Of course, if there is a major recession, it is possible that we won’t need as high production.

Peak Oil and Worldwide Economic Recession Soften Oil Prices: Lull Before the Storm

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In the first half of 2008 we saw oil climb to approach $150 a barrel amid the pundits’ warning of oil rocketing to $200 a barrel and way beyond due to the phenomenon of Peak Oil. In the wake of those heady days we have now witnessed the slumping of oil prices to well under $100 a barrel into October.
So what is happening to cause the retreat of oil prices?

Cassandra’s View

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This year’s ASPO-USA conference in Sacramento approached the surreal at times, with implausible “solutions” to the peak oil crisis presented cheek by jowl with troubling news about the limits already closing around industrial civilization, in the setting of a luxury hotel sustained by exactly the kind of resource use the future will not be able to sustain. Chalk it up to a used copy of Bulfinch’s Mythology, but images out of Greek legend proved impossible for a visiting archdruid to push aside.

The peak oil crisis: bailouts & shortages

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We are witnessing one of the most eventful weeks in modern history. Stocks and oil prices plunged on Monday and bounced on Tuesday; credit markets seem to be freezing; the Congress remains in gridlock as members watch the approaching elections fearful of what could happen to their incumbency.