By Tom Whipple, Steve Andrews, Peak-Oil.org
The market situation changed rapidly last week. On Monday, the oil traders were focused on the Saudi price war. By week’s end, however, the Saudi initiative had been overshadowed by the rapid spread of the coronavirus and its impact on oil demand.
By Roger Blanchard, Resilience.org
I believe we will see a fairly rapid decline in the production of shale oil and gas in the U.S. as a large number of fracking companies go bankrupt. I don’t see investors again being taken in by the promises of industry corporate executives, especially when the best drilling acreage is long gone. That is not a message I expect to hear on NPR.
By Tom Whipple, Steve Andrews, Peak-Oil.org
Major players in the oil industry are still in disagreement as to where oil prices will go in the near future. A few weeks ago, many financial writers were talking about $100 oil, but the sudden surge of volatility and turmoil in global financial markets has caused many to rethink their forecasts.
By Kurt Cobb, Resource Insights
The move by OPEC last week to raise oil production to compensate for outages among the group's members shows that U.S. shale oil (properly called "tight oil") is still in its cross hairs--and that the economics of tight oil remain abysmal.
By Tom Therramus, oil-price.net
A consistent theme in my articles is the charts reveal that economic disruptions, such as ructions in the stock market, tend to follow periods of marked instability in the price of oil, and further, that the economy at large appears to be acutely sensitive to sudden changes in the cost of energy - as mirrored by the longest lines on the chart above.
By Tom Whipple, ASPO-USA
A weekly roundup of peak oil news, including: -Quote of the week -Graphic of the week -Oil and the global economy -The Middle East and North Africa -China -Russia -Nigeria -Venezuela -The Briefs
By Kjell Aleklett, Resilience.org
During 2008 to 2015 the ratio of GDP growth to increase in debt sank closer to 1:1. This shows that the economic policy of the time was catastrophic. There was no capacity for increasing the wages of the middle class in the USA.
By Tom Whipple, ASPO-USA
A weekly roundup of peak oil news, including: -Quote of the week -Graphic of the week -Oil and the global economy -The Middle East and North Africa -China -Russia -Nigeria -Venezuela -The Briefs
By Tom Whipple, ASPO-USA
A weekly roundup of peak oil news, including: -Quotes of the Week -Graphic of the Week -Oil and the Global Economy -The Middle East and North Africa -China -Russia -Nigeria -Venezuela -The Briefs
By Tom Whipple, ASPO-USA
A midweek update. Oil prices continued to fall this week, capped by a precipitous drop after the EIA said US crude stocks had increased the most since record keeping began in 1982.