Insight and inspiration in turbulent times.
It has been a volatile week for oil with prices settling Wednesday at $38.32 in New York and $39.85 in London. Some traders still seem to be fascinated by the upcoming meeting in Doha on April 17th to “freeze prices.”
Oil prices surged Wednesday on yet another round of expectations that there will be a production freeze by those oil exporters that in fact have little hope of increasing production soon.
A weekly roundup of peak oil news, including: -Quotes of the week -Oil and the global economy -The Middle East and North Africa -China -Russia/Ukraine -The Briefs
Three and a half years ago, the International Energy Agency (IEA) triggered headlines around the world by predicting that the United States would overtake Saudi Arabia to become the world’s leading oil producer by 2020 and, together with Canada, would become a net exporter of oil around 2030.
A weekly roundup of peak oil news, including; -Quote of the Week -Oil and the global economy -The Middle East and North Africa -China -Russia -The Briefs
Investors keep hoping that the Saudis don’t really know what they are doing. So far the Saudis appear to have the upper hand, and I’m guessing that those buying newly issued oil company shares these days are miscalculating once again.
A midweek update. Oil prices have been firm for the last few weeks on hopes that oil producers would cut production enough to bring supply and demand back into balance.
We have been living in a world of rapid globalization, but this is not a condition that we can expect to continue indefinitely.
It was a tumultuous week in the world of hydraulic fracturing (“fracking”) for shale oil and gas, with a few of the biggest companies in the U.S. announcing temporary shutdowns at their drilling operations in various areas until oil prices rise again from the ashes.
A weekly roundup of peak oil news, including: -Quote of the week -Oil and the global economy -The Middle East and North Africa -China -The Briefs
A midweek update. Oil prices have been steady for nearly two weeks now with New York futures trading within a dollar or so of $32 a barrel and London trading around $34.
What Big Oil did not tell the pundits was that the unconventionals are a Ponzi scheme, too expensive to compete with renewable energy, made up mostly of a great credit bubble and churning real estate plays.
