Oil

Distillates

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The evidence is mounting that the US might just encounter the first real crisis of the oil depletion age before the year is out. The crisis at first will be one of spiraling prices for diesel and heating oil that will cause considerable economic havoc, and then there may be actual shortages right here in the United States.

Supply side follies

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Lower oil production, exploding production costs and capturing a shrinking fraction of oil profits has not prevented oil companies from enjoying record high profits. These profits are so large that they have masked the fact that US corporate profits are otherwise in the doldrums

Peak oil and politicians

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I asked Lisa Wright why Rep. Bartlett’s office thinks the peak oil issue has gotten so little traction in the media and with politicians. “Hard truths are hard to talk about as well as hard to absorb,” she said. But, she added, “It’s a chicken and egg conundrum. To the extent that voters become informed and aware through media, you’ll find that candidates will follow.”