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  • OPEC meets this week in Vienna, where discussions likely will be dominated by clashes over the appointment of a new leader for the group, leaving it ill-equipped to grapple with falling demand and a surge in production from both inside and outside OPEC, which prompts some observers to expect the cost of a barrel of crude to fall sharply next year. [View news story]
    Enjoy a low oil price while it lasts. India adds about 27,000 new motor vehicles to its roads EVERY DAY. Add to that China, Africa, South America and South East Asia and you can see that we have a mad rush to consume the remainder of a finite resource at an exponentially increasing rate.
    Dec 10 01:41 PM | 1 Like Like |Link to Comment
  • "Has peak oil peaked," asks Liam Denning in the sort of article you see after crude has declined 25% in less than 2 months. Oil producers (and consumers) over the coming years are set to harvest the benefits of a decade of investment spurred by years of high prices, argues former oil exec Leonard Maugeri.  [View news story]
    It is total world demand/supply that matters, not where individual local deals are done. When world demand exceeds world supply prices will go through the roof. With China and India and other developing countries growing in some cases by double digit percentages per annum, price spikes will happen as soon as excess capacity disappears.
    Jun 27 08:26 AM | Likes Like |Link to Comment
  • "Has peak oil peaked," asks Liam Denning in the sort of article you see after crude has declined 25% in less than 2 months. Oil producers (and consumers) over the coming years are set to harvest the benefits of a decade of investment spurred by years of high prices, argues former oil exec Leonard Maugeri.  [View news story]
    Demand of oil is increasing and our reserves are depleting. While the Americans can bully the Saudis to pump more to bring the price down for a time, we will see these fluctuations. They are now pumping seawater into their fields to enhance production. This can even have long term damaging effects. When the Saudis simply can't produce any more there will be a massive swing to much higher prices.

    In the meantime, it looks like humanity is doing precious little to prepare for a post carbon future.
    Jun 26 11:25 PM | 1 Like Like |Link to Comment
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