Regaining Perspective On Things That Matter
Everything flows and nothing abides, everything gives way and nothing stays fixed — Heraclitus It is easy nowadays to get caught up in the latest update to the S&P Case-Shiller
Continue ReadingWeek of February 23, 2009
1. Last Week 2. CERA — a Peak Oiler in the making? 3. Quote of the Week 4. Briefs February 23, 2009 Commentary: Top Stories from 2008 Read Online Library
Continue ReadingProduction and Prices
In a shortened trading week, high volatility continued due to the now familiar conflict between a widening world recession and OPEC production cuts. There were, however, surprises along the way.
Continue ReadingThe March OPEC meeting
With three weeks to go before the March 15th OPEC meeting, speculation is rife about what the cartel will do regarding additional production cuts. The traditional price hawks Venezuela and
Continue ReadingNigeria
There were more indications last week that the security, economic, and political situation in Nigeria continues to deteriorate. As more than 300 oil industry employees have been kidnapped in the
Continue ReadingChina goes shopping
With circa $1.5 trillion in foreign reserves, Beijing is taking advantage of low oil prices and the global recession to gain long-term access to sources of oil and other minerals
Continue ReadingBriefs week of February 23, 2009
Mexico’s state-owned oil company PEMEX said crude output fell 9.2 percent in January as its largest field plunged at the second-fastest rate ever. (2/21, #4) Azerbaijan has cut its 2009
Continue ReadingQuote of the Week
“If the question is, what is Pemex going to do in the short-term to prevent their falling production, I’m afraid the answer is nothing.” [Their production fell 9% last month
Continue ReadingWeek of February 16, 2009
1. Last Week 2. Peak Oil – What do we do now? 3. Quote of the Week 4. Briefs February 16, 2009 Commentary: Top Stories from 2008 Read Online Library
Continue ReadingCERA Week
Cambridge Energy Research Associates continues to make news with its annual energy conference in Houston which it dubs CERAWeek. Star attractions such as the CEO’s of Shell and BP told
Continue ReadingProduction and Prices
The trends that have developed over recent weeks continued. Prices started about $40 a barrel on hopes that the US stimulus program will be successful and then fell for 4
Continue ReadingFrench realism
Among the CEO’s of the world’s major oil companies, Total’s Christophe de Margerie has long been the most realistic about the prospects for further growth in world oil production. Last
Continue ReadingDetroit at the Crossroads
This may turn out to be a pivotal week for the US automobile industry as GM and Chrysler are to submit restructuring plans on Tuesday in order to qualify for
Continue ReadingQuote of the Week
“During the last week, we have had fresh estimates for oil demand which now forecast the biggest decline in consumption in more than a quarter of a century. We have
Continue ReadingBriefs week of February 16, 2009
Russian crude output will drop by nearly 8 percent from last year’s level through 2013 if the government doesn’t provide further aid to producers, Energy Minister Shmatko said at a
Continue ReadingOil Investment Woes During the Downturn
Another flaw in the human character is that everybody wants to build and nobody wants to do maintenance —Kurt Vonnegut Last week we took a look at new oil production
Continue ReadingWeek of February 9, 2009
1. Last Week 2. Redefining ‘Peak Oil’ for the USA 3. Quote of the Week 4. Briefs February 9, 2009 Commentary: Top Stories from 2008 Read Online Library and PDF
Continue ReadingProduction and Prices
The ongoing tension between bad economic news and OPEC production cuts resulted in a virtual stalemate last week. Oil started the week just above $40 a barrel and finished where
Continue ReadingThe Eventual Rebound
The Eventual ReboundThere is growing recognition that cheap ($40 a barrel), plentiful oil is not going to last forever, and when the price rebound comes, it could be violent. A Merrill
Continue ReadingVenezuela
The situation in Venezuela apparently took a turn for the worse last week and may be coming to a head. A US firm that says it is owed $100 million
Continue ReadingBriefs Week of February 9, 2009
As development of the Canadian oil sands “stagnates,” capital investment over the next 11 years will be cut 31 percent from a forecast made only three
Continue ReadingQuotes of the Week
“If we don’t do anything, we are going to be importing 75 percent of our oil and I promise you, we are going to be paying $200 to $300 a
Continue ReadingWeek of February 2, 2009
1. Last Week 2. Dangerous Oil 3. Quote of the Week 4. Briefs February 2, 2009 Commentary: Top Stories from 2008 Read Online Library and PDF Subscribe
Continue ReadingWeek of January 26, 2009
1. Last Week 2. Obama’s first week 3. Deflation, Reflation and Our Oil Future 4. Quote of the Week 5. Briefs January 26, 2009 Commentary: Top Stories from 2008 Read
Continue ReadingProduction and Prices
Oil prices climbed as high as $48 on Monday, collapsed to the low $40s on Tuesday and remained there for the rest of the week. The fall was precipitated by
Continue Reading