Oil Prices Fall to $45 as Iraq Oil Flows
Oil prices fell nearly a dollar to end just above $45 on Tuesday, in a third day of losses as a more optimistic Iraq export picture helped unwind some of the supply worries.
Oil
An answer in Somerset: The Age of Entropy is here. We should all now be learning how to live without oil
‘Never again,” the Texas oil baron and corporate raider T Boone Pickens announced this month, “will we pump more than 82m barrels.” As we are pumping 82m barrels of oil a day at the moment, what Pickens is saying is that global production has peaked. If he is right, then the oil geologist Kenneth Deffeyes, who announced to general ridicule last year that he was “99% confident” it would happen in 2004, has been vindicated. Rather more importantly, industrial civilisation is over.
Stocks set for crash like 1987, Roach says
Global stock markets may have something far more ominous to worry about than the recent spike in oil prices, with one economist seeing a ‘Black Monday’ scenario in the making.
Oil’s slippery slope
s the neo-conservative dream of a “liberated” Iraq came true in April 2003, who would have predicted that 16 months later oil would become the ultimate time bomb for the Bush administration?
Why we (still) need 60 dollars per barrel
Oil is no longer a free good made available to the aging consumer heartlands, but a vital and hard-to-substitute commodity that is entirely nonrenewable at human timescales, and whose ultimate peak of production is looming ever closer.
Over a million barrels of oil a day lost to depletion
The world is now losing more than a million barrels of oil a day to depletion – twice the rate of two years ago – according to a new analysis published this month in Petroleum Review.
Tallying oil reserves: inexact science
Estimating how much oil a company owns thousands of feet underground is, at best, a slippery business.
Oil Haves and Have-Nots (exerpt)
To some geologists, the world is heading toward an oil crisis of historic proportions. The crisis will come, they say, not when the wells go dry, but when world oil production reaches a peak and begins to decline.
China’s oil appetite could undermine U.S. energy plans
China’s dramatic increase in energy consumption – coupled with political problems in the oil-producing countries of Iraq, Russia and Venezuela – could have dramatic negative effects on the U.S. and world economies.
The hydrogen challenge to Arab oil has it’s pitfalls
While world supply of conventional oil looks set to peak, hydrogen has long been proposed as a solution. But in spite of billions of dollars now being spent on research, no one has yet found a simple, safe and cheap way to produce it.
NZ: A rabble of knee-jerking hillbilly square dancers
Economic growth equals increased demand, increased demand results in resources (such as oil and natural gas) being depleted at quicker rate.
No supply side answers to the coming oil crisis
One hangover from the ultraliberal 1980s (during which the New Economy emerged from the wreck of ” Keynesian economics “) is the myth or pious belief in so-called ‘supply side solutions’. The myth itself, however, was built on the real world, realpolitik process of first destroying demand.
