Rising North Sea oil production was a significant factor in keeping oil prices under control in the 1970s, 80s and 90s. Production peaked at 6.4 million barrels per day in 2000 and since then, declining North Sea Oil production is one significant reason that oil [...]
One of the more interesting things about this Friday's economic news was the very obvious connection between the unemployment number and oil prices. What links the two is debt, the defining feature of what I have called the Anglo Disease, ie the highly unequal economy whereby the rich and [...]
Iran sees oil price at $150 per barrel by end-summer
TEHRAN (Reuters) - World crude prices are expected to reach $150 per barrel by the end of summer, Iran's representative to the Organisation of the Petroleum Exporting Countries (OPEC) was quoted as saying on Sunday."I forecast that by the [...]
Some readers have been reporting that they have not been able to access The Oil Drum since June 1. This may be related to our recent move to upgraded servers. For some reason, some ISPs are blocking access to the new IP address, 67.217.100.71. So far, we have determined that [...]
A good many years ago, I read George Soros' "The Alchemy of Finance", which introduced me to the concept of reflexivity, which in a nutshell is when observers of a phenomenon can't help but impact the phenomenon itself via their 'observing', thus changing the original underlying fundamentals and [...]
The outcome of a political stalemate in Congress will determine if renewable energy and energy efficiency tax credits will be extended or will expire at the end of this year. The vote on this bill will be as soon as tomorrow and as we are hearing, it actually is in [...]
What did you do about it?
Ten years ago, I called for a programme to install solar panels on 100,000 roofs in Germany, so that we could have mass production as [...]
An Australian joint venture is planning to drill [...]
A year ago no one was talking about $200 oil, and now everyone in the markets is, for scary reasons. Oil prices climbed from $10 in 1999 to $95 last year without slowing [...]
Shows of force by nations competing to control dwindling energy supplies could trigger conflict in hot spots across the globe.
When powerful states wish to signal their determination to pursue particular vital interests against the wishes of weaker powers or deter a rival from overstepping certain boundaries, they often make a [...]
James West submits:
Our over-saturated information world has immunized us to the most pressing problems we face as a species. The price of oil, for instance, is no longer interesting, even though it sets records weekly, simply because it has been doing so for the [...]
They say the smart money is shorting oil. There is a lot of truth to that, but there is reasoning behind it. Much of the smart money people are talking about is long term investors, not many of the traders that are moving the commodity with [...]
By Jim Wiandt
There are some incredibly interesting and important issues around oil futures, as Matt Hougan points out. And with oil at around $130, conspiracy chatter has grown to a roar.
There are intriguing issues around contango and backwardation of oil futures and the crude [...]
By Matthew Hougan
All you commodity investors out there take note: crude oil is toying with contango again.
FP Trading Desk submits: Wellington West analyst Kim Page initiated coverage on three junior explorers with exposure to the Utica Shale natural gas play this week, giving Gastem Inc. (GTMIF.PK) Questerre Energy Corp. (QTEYF.PK) and Junex Inc. (JNEXF.PK) the thumbs up to reflect [...]
FP Trading Desk submits: Enbridge Inc.’s (ENB) decision to sell its 25% stake in Compania Logistica de Hidrocarburos SA for C$1.36-billion in cash is expected to close in mid-June and the price tag is in line with analyst estimates.
The Canadian pipeline company said [...]
Walter Nasdeo is managing director and director of research at Ardour Capital, developer of the Ardour Capital Global Solar Energy ETF. He spoke recently with the editors of HardAssetsInvestor.com about the future for solar energy.
HardAssetsInvestor.com [HAI]: Let's start with the big question first: Is solar energy cost-competitive today [...]
By Brad Zigler
This week, insiders foresaw U.S. crude oil inventories declining 300,000 barrels from last week's ending level of 320.4 million barrels.
First, a definition. If you're Paris Hilton, go here for your explanation, otherwise ...
The peak oil theory does not necessarily say that the world is running out of oil. That's actually an unstated fact. After all, nobody is actually making more.
Piper Jaffray is out with a Solar call saying that according to German news agency DPA, and supported by their contacts close to the Social Democrat Party [SPD], the German Government reached final agreement on feed-in tariff reduction for Solar and Wind at 02.00 AM this [...]
Exxon Mobil’s (XOM) Chairman and CEO Rex W. Tillerson convinced shareholders to vote down a series of nonbinding proposals initiated by the descendents of Standard Oil’s founder. Exxon and Mobil were two of the seven children emanating from the antitrust breakup of Rockefeller’s Standard [...]
Hickey and Walters (Bespoke) submit:
While yesterday's 3% decline in the price of oil has many oil bears celebrating that the top is in, we would note that yesterday's decline was the 29th one day decline of 3% or more in the last two years. Looking [...]
The realities of peak oil and the disastrous US monetary policy of the last 8 years have completely changed the rules of investing. Pick up any financial publication - be it Money magazine, investment publications from Vanguard, or articles by the lead economists at firms like Schwab and [...]
The turmoil caused by the credit crisis of Q1 caused many investors to leave the game and sit on the sidelines. The volatility was too much to handle. The question now is, when to re-enter the market? The S&P 500 is down 5% for the year but recent statements by influential market [...]
As mentioned in recent WSJ and Bloomberg articles, the Commodity Futures Trading Commission is conducting an investigation into potential crude oil price manipulation. What is interesting about the story is not only how the CFTC is initiating an investigation, but that they are making [...]
In Part One of “The Oil Bubble,” we looked at the current price appreciation in crude prices and tried to determine if it whether or not it was sustainable. We compared the recent run-up to other various commodities, all of which have corrected sharply, and [...]
My eyes have been on crude and I'm genuinely confounded on where it goes. I've been burned too many times trying to short crude lately, thinking for a while that this was a speculation driven ascent - but the last two EIA reports show support [...]
The peaceful co-existence between commodity-related investments and most sectors which comprise the broader US Stock indices, is drawing to a close. As inflation tightens its grip over the world economy, US treasuries and stocks (consumer-related, tech, and financials) will suffer while investments in tangible assets will see [...]
The chart above (data available here from Net Oil Exports blog) shows Net Oil Exports of the top 20 oil exporters, representing 93% of total world exports, versus the world price of oil, from January 2001 to April 2008 (for oil [...]
Friday's oil price decline was impressive given the inventory report. However, this one-day oddity was made out to be some evidence of the bursting of the “oil bubble.” The stock market bulls and their spin of the oil bubble is quite a farce.
What do we mean [...]
Three years ago [...]
WASHINGTON - The possible economic cost of confronting global warming from higher electricity bills to more expensive gasoline is driving the debate as climate change takes center stage in Congress.
The Senate will begin considering legislation Monday that would mandate a reduction in carbon dioxide and other greenhouse [...]
EDMONTON - The price of ammo is shooting up faster than a speeding bullet.
Metal supplies are diminishing due to industrialization in China. On top of that, ammunition supplies have been depleted by wars in Iraq and Afghanistan and by consumers who hoard what [...]
"We will have a different civilization, to be sure," said [...]
(CNN) -- Federal regulators investigating possible price manipulation of crude oil are probably looking at what role collapsed energy giant Enron may have played, a former government official said Friday.
On "American Morning," Michael Greenberger, who once led the Commodity Futures Trading Commission's Division of Trading & Markets, said, "almost certainly, [...]
If the soaring crude price has shown anything, it is that a paradigm shift is under way in the global oil industry: the Western world can no longer take for granted [...]
Dmitry Orlov's new book, Reinventing Collapse: The Soviet Example and American Prospects, was published very recently. I pre-ordered a copy because Dmitry has had first hand experience with the collapse of the Soviet Union, and he believes, as I do, that economic collapse is likely to come first, if [...]
We have been terribly remiss here at The Oil Drum in letting you know about Chris Nelder's book Profit from the Peak: The End of Oil and the Greatest Investment Event of the Century. It features wonderful analysis and a well-written guide on how to muddle through the investing [...]
The one thing that surprised me during the course of my investigation [...]
In a surprise visit to the Oil & Gas UK conference in Aberdeen [...]
Ending dollar peg won't solve Gulf inflation - Paulson
ABU DHABI, June 1 (Reuters) - U.S. Treasury Secretary Henry Paulson said on Sunday leaders of Gulf oil producing states had told him that abandoning their currency pegs to the dollar will not solve their inflation problems.Paulson, two-thirds of the [...]
Ford Motor Company will produce the new Ford Fiesta small car (earlier post) for North America at the company’s transformed Cuautitlán Assembly Plant—currently producing F-Series (F-150 to F-550) pickups for the Mexican market—beginning in early 2010.
Ford also said that it will add a sporty European hatchback model to the [...]
At the recent meeting of the Premiers of Canada’s Western provinces, the premiers of Alberta and Saskatchewan—the two provinces with substantial oil sands resources—agreed to take the lead in making carbon capture and storage (CCS) technology a national priority.
The two provinces also agreed to lead a process with other [...]
by Jack Rosebro
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| A Unicell representative prepares to demonstrate the Quicksider’s kneeling capabilities. The vehicle can kneel at both front and rear to assist driver productivity and comfort. |
Commercial vehicle body manufacturer Unicell displayed its prototype Quicksider electric delivery van (earlier post) at Green Fleet Expo III in [...]
In a commentary piece in Nature Reports Climate Change, three of the scientists who led the impacts assessment for the IPCC (UN Intergovernmental Panel on Climate Change) argue that the 50% reduction in greenhouse gas being discussed as a global target is far from sufficient to avoid the dangerous global [...]
I think it might be safe to say that the peak oil movement has long had a mostly older male and perhaps somewhat, erm, geeky set of spokespeople - from James Howard Kunstler to Richard Heinberg to Matthew Simmons--in that they've all tried to convince people through logic, facts & [...]
Dear P______ Hotels,
Thank you for your unsolicited email, which included an offer for a $50 gas card if I book a stay in one of your lovely coastal properties.
I realize times might be tough in the boutique hotel industry. A weak economy and record oil prices [...]
The Little Beaver is what's known in the utility biz as a "peaking unit." Peaking units are the benchwarmers of the electric industry, the last-resort generators that utilities turn to when electricity use surges, like a [...]
Elon Musk, the founder of PayPal and chairman of electric car company Tesla, recently said that he believed [...]
During Budget week the federal Coalition started the race to the bottom on the public policy debate. The really frightening thing [...]
Energy: Analysts have found that investors spooked by the peak oil theory — the belief that crude production has topped out and is in decline — are partly behind the soaring oil prices. Someone should set them straight.
Blame part of $135-a-barrel oil on the increased demand [...]
Henry Blodget and Aaron Task. Well worth watching!! Here's a link to the article (from which this video comes, that links to TOD in the last sentence).
Under the fold, more videos from TOD's own Rembrandt Koppelaar, Matt Simmons, Bob Hirsch, [...]
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High fuel prices are wreaking havoc in Europe, some call for tax exemptions others go on strike. The structural constraints affecting oil supply are becoming to much to bear for Europeans, especially those more reliant on the automobile.
But before going out for a demonstration against who ever you [...] Posted: May 31, 2008, 10:00am EDT by Luis de SousaPeak Energy
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