Peak Oil Review – Jan 12
A weekly update of peak oil news, including: -Oil and the Global Economy -The Middle East and North Africa -Ukraine -Quote of the Week -The Briefs
A weekly update of peak oil news, including: -Oil and the Global Economy -The Middle East and North Africa -Ukraine -Quote of the Week -The Briefs
Since about 2001, several sectors of the economy have become increasingly inefficient, in the sense that it takes more resources to produce a given output, such as 1000 barrels of oil.
It’s déjà vu all over again: another oil “supply shock.” Seems like we’ve had one every few weeks for the past few months.
It is wrong to offer oil companies a regulatory solution that borders on illegality when it would be right to debate the Energy Policy and Conservation Act and reach a clear course of action.
Oil futures have been volatile this week, swinging $1-2 a barrel on the latest news.
Oil prices have fallen by half since late June. Since it’s almost the end of the year, perhaps this is a good time to stop and ask why?
What do the plummeting oil prices tell us not only about our near term economic future in Canada, but the political fragility of the world’s petro states?
Every square on the bingo card marked “economic debacle” has been filled in with a pen dipped in fracking fluid.
But another reason oil prices have slid so much is weakness in demand for the product, which may be related to a slowdown of overall world economic growth.
Currently lower oil prices due to a combination of increasing oil supplies and subdued demand come at a high cost to the environment and the climate.
A midweek update. The drop in oil prices continued this week as US crude stocks increased; OPEC lowered its demand forecast for next year; several OPEC countries reduced their selling prices to Asian customers; and the Saudi Oil Minster reaffirmed his intention to maintain production.
The world economy is slowing down and the authorities are fretting.