Helping America Navigate a New Energy Reality

Peak Oil Review Extra

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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Review July 13, 2009

1. Demand, production and prices Since touching a high for the year above $73 a barrel last month, oil prices have fallen steadily for the last two weeks, closing at $59.89 on Friday. The so-called green shoots of economic revival, which had been driving the oil market higher since the first of the year on […]

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Production and Prices

By on 22 Jun 2009 in Peak Oil Review Extra with 0 Comments
Production and Prices

Oil prices hovered around $71 a barrel last week with most movement linked to the climbing or falling dollar. The usual concerns about inflation and hopes for an economic recovery were the major factors in last week’s moves. Even a week of widespread rioting in Iran and three new production-cutting attacks on oil pipelines in […]

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Review June 22, 2009

1. Production and Prices Oil prices hovered around $71 a barrel last week with most movement linked to the climbing or falling dollar. The usual concerns about inflation and hopes for an economic recovery were the major factors in last week’s moves. Even a week of widespread rioting in Iran and three new production-cutting attacks […]

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Commentary: Interview with Charlie Maxwell (Part 1 of 2)

Commentary:  Interview with Charlie Maxwell  (Part 1 of 2)

By crushing demand, we are in effect gaining two more years, maybe three, in which we in the consuming world have added to our time before the peak, and could take good advantage of, since the peak is right upon us-I have it still at 2015 for all liquids. But, given the way we’re going about it, given the politics, given the direction of the world–like the Chavezs nationalizing all those oil service companies, and the continued Russian attitude–I don’t think that mankind is going to take advantage of those extra two or three years.

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Natural Gas

By on 22 Jun 2009 in Peak Oil Review Extra with 2 Comments

The US’s supply of natural gas has been much in the news lately as prices have fallen to $4 /mbtu and a steady stream of announcements and articles have touted the potential of shale gas. In the short term, falling industrial production has reduced the demand for natural gas and electricity generated by natural gas. […]

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Bill O'Reilly, The O'Reilly Factor

By on 22 Jun 2009 in Peak Oil Review Extra, quotes with 0 Comments

“I’m a free-market guy, but the government must step in to stop the [oilprice] speculators!” [Ed. note: can one make a more oxymoronic statement?]

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Statistic of the Week

By on 22 Jun 2009 in Peak Oil Review Extra with 0 Comments

Today more than half the USA’s nitrogen fertilizer is imported, and about 20 percent of the imports are from Russia. The cost of natural gas now accounts for up to 90 percent of the cost of making nitrogen fertilizer (6/17, #21)

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Review June 15, 2009

1. Production and Prices Starting the week at $68 a barrel, oil traded as high as $73 before closing out the week at $72.04. Once again the increase was mostly based on financial developments – a falling dollar, fears of inflation, and hopes for an economic rebound. However, the IEA did reduce its estimate of […]

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Marshall Adkins, Managing Director, Energy Equity Research, Raymond James

By on 15 Jun 2009 in Peak Oil Review Extra, quotes with 1 Comment

Global oil production peaked in 2008, and I think that as you scale back activity around the world, both because of low prices and the credit crunch, you going to see particularly the non-OPEC supply fall dramatically in 2010 and 2011…Crude supplies are going to fall, and the economy will rebound and new demand will […]

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US Imports

By on 15 Jun 2009 in Peak Oil Review Extra with 0 Comments

In recent years, the US has been importing roughly 400 million barrels of oil and products each month. The monthly totals have ranged between 450 million barrels and 340 million depending on shipping schedules, demand, and weather – particularly hurricanes. Roughly half of these 400 million barrels have come from four countries – Canada, Mexico, […]

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Production and Prices

By on 15 Jun 2009 in Peak Oil Review Extra with 0 Comments

Starting the week at $68 a barrel, oil traded as high as $73 before closing out the week at $72.04. Once again the increase was mostly based on financial developments – a falling dollar, fears of inflation, and hopes for an economic rebound.  However, the IEA did reduce its estimate of how much demand will […]

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China

By on 15 Jun 2009 in Peak Oil Review Extra with 0 Comments

While the OECD’s economies continue to stagnate, the situation in China is less clear. Chinese exports, which had been the mainstay of the economy, are now down by 26 percent from last year. To counter this drop, the government has launched a 1-year $700 billion stimulus package that is aimed at strengthening the country’s infrastructure […]

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Don Stowers, Editor, Oil & Gas Financial Journal

By on 8 Jun 2009 in Peak Oil Review Extra, quotes with 0 Comments

“The reality is that the economy will come back and when it does there are serious doubts as to whether the supply of oil will be adequate to sustain the economic engine. So all those doubters who criticized Matt Simmons’ view about peak oil may soon have to come to grips with the reality that […]

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Week of June 8, 2009

  1. Production and Prices Oil prices opened and closed the week around $68 a barrel. At one point they fell below $65 on news of a build in US crude stocks and later touched a high of over $70 on hopes that US unemployment was bottoming out. Oil’s connection to the dollar, equity markets, […]

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Production and Prices

By on 8 Jun 2009 in Peak Oil Review Extra with 0 Comments

Oil prices opened and closed the week around $68 a barrel.  At one point they fell below $65 on news of a build in US crude stocks and later touched a high of over $70 on hopes that US unemployment was bottoming out. Oil’s connection to the dollar, equity markets, and hopes for an economic […]

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Airlines Under Pressure

By on 8 Jun 2009 in Peak Oil Review Extra with 0 Comments

Last summer with oil prices approaching $150 a barrel, the world’s airlines were approaching collapse.  The drop in oil prices in the second half of 2008 gave them a temporary reprieve, but now a combination of rising prices and falling traffic is again increasing the financial pressure. Last week the International Air Transport Association reported […]

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Update on China

By on 8 Jun 2009 in Peak Oil Review Extra with 1 Comment

Prior to last summer’s Olympics, China was moving the oil markets by importing unprecedented quantities of oil and products to insure the games would be successful. After the Olympics, China’s demand for oil fell as its exports, GDP, and industrial activity declined. Their GDP, which had been running at a 10-11 percent annual increase in […]

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Briefs

By on 8 Jun 2009 in Peak Oil Review Extra with 0 Comments

Over the next 11 years, Canada‘s oil industry is likely to produce 500,000 b/d less than was forecast a year ago, according to the Canadian Association of Petroleum Producers. The forecast for the oil sands has dropped even further, the industry group said in an annual report. Oil sands production is expected to reach only […]

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Briefs

By on 2 Jun 2009 in Peak Oil Review Extra with 1 Comment
Briefs

           The Middle East’s LNG capacity will rise to 100 million tons a year by 2015 from the current 20 million tons a year according to Khalid Sultan al Kuwari, marketing executive at Qatar’s RasGas. (5/28, #8)          Saudi Arabia raised its oil production by nearly 300,000 b/d in March 2009 in spite of […]

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Quote of the Week

By on 2 Jun 2009 in Peak Oil Review Extra, quotes with 1 Comment

“The quickest and easiest way to reduce our carbon footprint is through energy efficiency. Energy efficiency is not just low-hanging fruit; it is fruit that is lying on the ground.” Dr. Stephen Chu, US Secretary of Energy 

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Brazil

By on 2 Jun 2009 in Peak Oil Review Extra with 0 Comments
Brazil

Last week Brazil’s energy minister announced that international companies will be invited to bid for concessions in the pre-salt deep-water oil fields as early as next year. Brazil stopped selling concessions in the area soon after the size and importance of the discovery was recognized in 2007. Under a production-sharing system, the Brazilian government would […]

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The Rebound

By on 2 Jun 2009 in Peak Oil Review Extra with 0 Comments

For many months now the major question perplexing the world’s policymakers, and nearly everybody else, is just when some type of economic rebound will begin and what such a rebound might look like. While opinions range from the “next quarter” to many years, few seem to take the issue of slowing global oil production into […]

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Production and Prices

By on 2 Jun 2009 in Peak Oil Review Extra with 0 Comments
Production and Prices

Oil prices surged to a six-month high above $66 a barrel last week, despite protests from most observers that fundamentals of supply and demand did not support such a move. A combination of factors was behind the sudden rise. Most important was the fall of the US dollar to a recent low of $1.41 against […]

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Week of June 1, 2009

1. Production and Prices Oil prices surged to a six-month high above $66 a barrel last week, despite protests from most observers that fundamentals of supply and demand did not support such a move. A combination of factors was behind the sudden rise. Most important was the fall of the US dollar to a recent […]

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