Failure and Heroism at the IEA

On June 23rd, the International Energy Agency (IEA) and the US government announced the intention to tap strategic petroleum reserves (SPRs) of the US and other countries, with an eye to reducing oil prices. The US was to provide 30 million barrels (mb) and other countries a similar amount, for a total draw of 60 million barrels.

The market responded sharply, with oil prices falling nearly $6 / barrel within a day or two; the intervention appeared effective. But it was not too be. Within a week, oil prices had recovered the pre-announcement price. They are even higher now. The market simply absorbed and discounted the news.

Pick One: SPR or Recession

(Note: Commentaries do not necessarily represent the ASPO-USA position.) In a Brookings Institution presentation in early 2009, UCSD economist James Hamilton

An Oil Shock in 2012?

The price of oil is once again daily in the news.  The western Europe benchmark Brent crude has hovered near $100 / barrel for much of the last month,

The Tierney-Simmons Bet

Five years ago, John Tierney, a columnist with The New York Times, and Matt Simmons, peak oil guru and founder of energy investment bank Simmons &

The Impact of Peak Oil: An Alternative View

At the ASPO Conference in early October 2007, Robert Hirsch presented his view of the impact of peak oil on the economy and society. While most of his

Steven Kopits, director NYC office of Douglas-Westwood

“[EIA's] forecasts to 2020 are 2-3 mbpd lower than that of traditionally dour Total, the French oil major. And they are below our own forecasts at

Debunking Peak Demand

The notion of ‘peak demand’ is often invoked to suggest that the US or

The Market Potential of CNG as a Transportation Fuel

In the search for alternative fuels and technologies to oil-based engines, basic cost-benefit analysis is often over-looked, and yet the dissemination