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Archive for September, 2009

Aubrey McClendon, Chesapeake CEO

By on 28 Sep 2009 in Other with 1 Comment

“The industry can cope with $4 gas. The industry can’t grow or sustain production with $4 gas…We at Chesapeake think that price has to be three times the finding costs, and that translates to $6 to $9 in the next 12 months.”

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Review Sept 28, 2009

By on 28 Sep 2009 in Other with 0 Comments

DOWNLOAD FULL PEAK OIL REVIEW in PDF LEARN MORE: 2009 ASPO International Peak Oil Conference  1. Production and prices Starting the week in the low $70’s, oil prices fell precipitously on Wednesday and Thursday after the US stocks report showed that demand for oil products continues to be weak and inventories continue to increase. The decline […]

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The Aftermath of the Great Recession, Part II

By on 24 Sep 2009 in Other with 7 Comments
The Aftermath of the Great Recession, Part II

Today’s article is a follow up to The Aftermath of the Great Recession, Part I. I am covering the material I will present at ASPO-USA’s Denver conference on October 11-13, 2009. I am making this presentation available before the conference in part because there is more material here than I will be able to cover […]

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Mission Critical: Can Shale Gas Save the World?

By on 21 Sep 2009 in Other with 4 Comments

In late August the Vancouver Sun ran an article on the bullish prospects for Canadian shale gas. The piece began this way: “What energy crisis? Despite what you may be hearing about a global peak in oil production, waning reserves, and $100-plus oil prices, North America is suddenly awash in fossil fuel.” The most arresting […]

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Review Sept 21, 2009

By on 21 Sep 2009 in Peak Oil Review with 3 Comments

1. Production and prices The week started with oil trading at around $69 a barrel on periodic concern that the global recovery was running out of steam. This was helped by a forecast that the demand for gasoline would drop in the US and Europe over the next 10 years as more efficient autos become […]

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Briefs 09/21/2009

By on 21 Sep 2009 in Other with 0 Comments

Nigeria depends on oil for more than 90 percent of its export revenue and more than 80% of its government revenue. According to government figures, this year attacks on oil installations have reduced the nation’s output to about 1.7 million barrels a day, from about 2.6 million in 2005. Some experts believe the actual figure […]

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Production and Prices

By on 21 Sep 2009 in Peak Oil Review Extra with 0 Comments

The week started with oil trading at around $69 a barrel on periodic concern that the global recovery was running out of steam. This was helped by a forecast that the demand for gasoline would drop in the US and Europe over the next 10 years as more efficient autos become the norm and emissions […]

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Iain Reid, a senior oil analyst at Macquarie Bank

By on 21 Sep 2009 in quotes with 0 Comments

“Our medium-term global oil balance does not balance post 2013…(Oil near $150) would very soon create another set of global economic drivers which would spell much lower demand in the future…In the very long term we can see demand for oil falling quite substantially.”

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World Oil Demand: Cash For Clunkers

By on 21 Sep 2009 in cartoon with 0 Comments
World Oil Demand: Cash For Clunkers

  WORLD OIL DEMAND I’m pretty sure she qualifies.  She’s only getting about six months per new oil field. Ed Stein September 21, 2009 Ed Stein 2009 for ASPO-USA

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The Aftermath of the Great Recession, Part I

By on 17 Sep 2009 in Other with 5 Comments
The Aftermath of the Great Recession, Part I

The only function of economic forecasting is make astrology look respectable —John Kenneth Galbraith There are three kinds of economists: those who can count and those who can’t —old joke Today’s article is the first of a two-part series in which I attempt to forecast general economic conditions that will affect the oil market over […]

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Ed Stein – Lost Car

By on 14 Sep 2009 in cartoon with 0 Comments
Ed Stein – Lost Car

The first peak oil recession: Interview with Steven Kopits

By on 14 Sep 2009 in Other with 11 Comments
The first peak oil recession: Interview with Steven Kopits

Steven Kopits, who runs the New York office of Douglas Westwood, was in Denver last week. He talked about his latest paper on peak oil and the economy with Steve Andrews and will share related remarks at the ASPO-USA conference next month. Question: Tell us about your background. Kopits: I’ve spent most of my career […]

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Briefs 09/14/2009

By on 14 Sep 2009 in Other with 0 Comments

Libya appears to be tugging back the welcome mat it laid down for foreign investors after it successfully blocked Verenex Energy Inc.’s sale to a Chinese firm. The international arm of CNPC formally abandoned the $499-million deal it signed in February. (9/11, #8) IHS CERA expects oil demand to rise by 900,000 b/d in 2010 […]

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Production and Prices

By on 14 Sep 2009 in Other with 0 Comments

Until Friday, the oil markets were dominated by a weak dollar which sent futures up from $68 to nearly $73 on Thursday. When oil prices stopped short of the $73 mark, trader interest switched from the weak dollar to the likelihood that world stockpiles would continue rising as refiners cut back for seasonal maintenance. Prices […]

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Christophe de Margerie, CEO of Total

By on 14 Sep 2009 in Other with 0 Comments

“We are running the risk of another oil crisis when demand outstrips supply around 2014 or 2015. There won’t be enough oil and gas by the middle of the next decade.”

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Review Sept 14, 2009

By on 14 Sep 2009 in Peak Oil Review with 1 Comment

Download PDF Here 1. Production and prices Until Friday, the oil markets were dominated by a weak dollar which sent futures up from $68 to nearly $73 on Thursday. When oil prices stopped short of the $73 mark, trader interest switched from the weak dollar to the likelihood that world stockpiles would continue rising as […]

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The Mistakes Economists Make

By on 10 Sep 2009 in Other with 4 Comments
The Mistakes Economists Make

What has been is what will be, and what has been done is what will be done; there is nothing new under the sun —Ecclesiastes 1:9 It’s almost worth a Great Depression to learn how little our big men know —Will Rodgers Paul Krugman’s remarkable article How Did Economists Get It So Wrong? reminds us […]

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Review September 7, 2009

By on 7 Sep 2009 in Peak Oil Review with 0 Comments

Read PDF Here HTML Version available later today.

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Interview with Bob Hirsch – The Stonewalling of Peak Oil

By on 7 Sep 2009 in Other with 29 Comments
Interview with Bob Hirsch – The Stonewalling of Peak Oil

Robert L. Hirsch is the lead author of a seminal report–Peaking of World Oil Production: Impacts, Mitigation & Risk Management—written for the US Dept. of Energy’s National Energy Technology Laboratory (DOE, NETL) and released in early 2005. He has remained very active with respect to his concerns about peak oil. ASPO-USA’s Steve Andrews tracked him […]

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Bob MacKnight, senior consultant, Washington consulting firm PFC Energy

By on 7 Sep 2009 in quotes with 1 Comment

[About BP’s recent Tiber discovery] We really need this. After 2012, given current developments, we will see production start to decline. Without continued discoveries . . . that decline could be steep.

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Ed Stein – Planet Oil

By on 7 Sep 2009 in cartoon with 0 Comments
Ed Stein – Planet Oil

Ed Stein – Planet Oil

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The Almighty Dollar

By on 3 Sep 2009 in Other with 3 Comments
The Almighty Dollar

What is hateful to you, do not do to your fellow man. This is the law: all the rest is commentary —One version of the rule of reciprocity, the Golden Rule I only hope that we don’t lose sight of one thing—that it was all started by a mouse —Walt Disney Each week I look […]

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