“Until recently, China was a net exporter of coal. Now it is an importer. Chinese coal production will peak in five to ten years, if not sooner. Australia is by
Continue ReadingDownload Full PDF 1. Prices and Production Crude prices rose steadily last week closing above $78 a barrel, the highest close in three weeks. Rising equity markets, expectations that the
Continue Reading“To me it looks like the economics of many of these [Iraqi oil] deals don’t work at all. They’re profitable, mind you, but they don’t offer a rate of return
Continue ReadingIt will come as little surprise to most readers that the world is near to, or past, peak world oil production. Petroleum is so essential to the economics of transportation
Continue ReadingDownload Full PDF 1. Prices and Production Oil prices stopped falling last week and climbed from circa $70 a barrel on Monday to close above $73 on Friday. The price
Continue ReadingBankers and regulators have not come anywhere close to responding with necessary vigor to the worst economic crisis in 70 years. There is a lot of evidence that financial weaknesses
Continue Reading“The current schism between the old and new energy industries—wherein the green evangelists mock the traditional fuels and the oil and gas crowd reciprocate—should end. This transformation also could be
Continue ReadingCanadian energy authorities have done it again. They missed their last rosy projection of future oil sands production, so they issued a new one: they merely pushed the big surge
Continue ReadingDOWNLOAD FULL PDF 1. Prices and Production After eight straight days of decline, oil settled on Friday at $69.87, the lowest close since early October. The 11 percent drop since
Continue ReadingThere are lies, damn lies – and statistics. —attributed to Benjamin Disraeli, made popular by Mark Twain Humankind can not bear too much reality —T.S. Eliot Some of us think
Continue Reading“I have never said that we are running out of oil. I do not believe that. But we are running out of production capacities. It is not a question of
Continue ReadingDOWNLOAD FULL PDF 1. Prices and Production After starting the week quietly, oil prices fell to a seven-week low on Friday to close at $75.47 following the US November jobs
Continue ReadingThere is no cause to worry. The high tide of prosperity will continue —Andrew W. Mellon, Secretary of the Treasury – September, 1929 The worst is over without a doubt
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