IEA Executive Director Nobuo Tanaka, referring to current oil prices
“Alarming”
Review January 31, 2011
Download Full PDF 1. Oil and the Global Economy The week started with oil prices Continue Reading
Lies We Tell Ourselves, By Sharon Astyk
“He may be a son of a bitch, but he’s our son of a bitch.” Continue Reading
Amrita Sen, commodity analyst at Barclays
“For Russia to maintain production at or above 10 million barrels per day, the investments Continue Reading
Review January 24, 2011
Download Full PDF 1. Oil and the Global Economy In New York oil futures traded Continue Reading
TWIP Fails to Warn of a 1.8 mb/d Supply Shortfall by Bill James
Mission failure. The Energy Information Administration (EIA) is funded by American taxpayers to warn about Continue Reading
Greenland’s Prime Minister Kleist, after a meeting with the Norwegian Foreign Minister
“The recent discoveries of possible findings of oil have increased the debate on the issue Continue Reading
On Not Jumping the Gun By Sharon Astyk
The e-mails started coming in to my mailbox this fall, their quantity and excitement level tracking the rising oil prices. Had I heard that this analyst just predicted $110 a barrel of oil by next year? How about this analyst, who suggested we might hit $200 a barrel by the end of 2015? As oil snuck past $80 a barrel toward $90, more and more of these predictions were made by analysts seeing a trend, and more and more of them were sent to me by correspondents as evidence that oil prices are going up – way up.
I understand why my fellow peak-oil activists are excited. High oil prices make sense to the general public, and when oil prices are high, peak oil gets serious attention. Phrases like “the end of cheap oil” start making sense to people. When gas and heating oil prices make the news, the language of peak oil resonates. It is easy to explain to someone ignorant of energy issues: “Peak oil means that you won’t be able to afford to get to work and that the price of everything made with oil (which is everything) is going up.”
Review January 17, 2011
Download Full PDF Peak Oil Review 1. Oil and the Global Economy After climbing from Continue Reading
Mohamed El-Erian, chief executive of Pimco
“Today’s reports confirm that, unfortunately, post-crisis America is still not back to its good economic Continue Reading
Review January 10, 2011
Download Full PDF 1. Oil and the Global Economy After reaching a 27-month high of Continue Reading
The Tierney-Simmons Bet
Five years ago, John Tierney, a columnist with The New York Times, and Matt Simmons, peak oil guru and founder of energy investment bank Simmons & Co., made a bet. Simmons argued that oil prices would be much higher in 2010. Tierney, a believer in human ingenuity and a follower of economist Julian Simon, took the other position. Simon, a so-called Cornucopian, argued that there would always be abundant supplies of energy and other natural resources and that the real price of commodities like oil would remain stable or decline over time.
Group shifts peak oil attention to Washington with new executive director
In a bid to boost its influence on US energy policy, the Association for the Study of Peak Oil & Gas-USA has appointed a Washington policy insider and former campaign hand as the group’s full-time director, it said Thursday.
Top 10 Developments of 2010
Top 10 Developments of 2010
1. Unexpected Growth in Global Demand
As the global demand for oil increased during 2010 the IEA was forced to steadily increase its forecast for average annual demand. In January the agency said that the increase over 2009 would be 1.4 million b/d. By July that had increased to a 1.8 million b/d gain and in mid-December the estimate was up to a 2.5 million b/d increase in global oil consumption. The agency notes that in the 3rd quarter global demand may have been up by 3.3 million b/d over the previous year, a rate which is clearly outstripping increases in production and indicating that a drawdown in global stocks is taking place.
Review January 3, 2011
Top 10 Developments of 2010
1. Unexpected Growth in Global Demand
As the global demand for oil increased during 2010 the IEA was forced to steadily increase its forecast for average annual demand. In January the agency said that the increase over 2009 would be 1.4 million b/d. By July that had increased to a 1.8 million b/d gain and in mid-December the estimate was up to a 2.5 million b/d increase in global oil consumption. The agency notes that in the 3rd quarter global demand may have been up by 3.3 million b/d over the previous year, a rate which is clearly outstripping increases in production and indicating that a drawdown in global stocks is taking place.