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The View from Hubbert’s Peak

The only certain beneficiaries of this coming economic chaos will be the big five oil corporations and their corrupt partners: the Nigerian generals, Saudi princes, Russian kleptocrats, and their ilk. Crude oil truly will become black gold.

Oil traders vs. the Saudis

If the Saudis plan to unilaterally boost their supply of crude oil, regardless of what the OPEC cartel decides to do — a promise the Saudi Arabian oil minister made last week — then why have crude prices continued to climb?

Shell cuts oil reserves for 4th time

LONDON — The Royal Dutch/Shell Group downgraded the size of its proven oil and gas reserves yesterday for the fourth time this year as the oil giant continued to stumble over a scandal that shocked the markets and forced the resignation of three top executives.