Section » Peak Oil Review
John R. Boyce, University of Calgary economist
“The data resoundingly rejects … peak oil. In all aspects, I find the peak oil model an inadequate empirical representation of historical patterns. This is not to say that oil production may eventually peak. It does say that the peak oil model will have little, if anything, to say about it.”
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Review June 28, 2010
Download Full PDF 1. Oil and the global economy After the brief euphoria following Beijing’s un-pegging of the Yuan on Monday, oil prices slipped lower for most of the week. On Friday, however, concerns about the effects the first gulf hurricane of the season might have on oil production sent prices sharply
Review June 21, 2010
Download Full PDF 1. Oil and the Global Economy Oil prices continued to move upwards this week from the low of $70 two weeks ago. On Wednesday oil touched $78, then closed at $77.18 on Friday. US crude inventories rose by 1.7 million barrels the week before last, raising concerns about long-term oversupply.
Ferdinand Banks, energy economist and widely published author
“What some observers call the shale gas ‘revolution’ might turn out to be no more than one of those mammoth ‘spin’ jobs that are mainly concerned with increasing somebody’s money and power. Personally, for reasons given below, I remain skeptical to a large part of the shale gas song-and-dance, but admittedly I could be completely wrong.”
The Oil Spill in Perspective
The oil spill resulting from the explosion of the Deepwater Horizon rig in the Gulf of Mexico is more than an environmental disaster–it’s a clear signal that our dependency on oil has reached a critical breaking point. The spectacle of the disaster, and the wrangling over who’s to blame for it, are distracting us from the serious discussion we should be having about the future of our energy
Review June 14, 2010
Download Full PDF 1. Oil and the Global Economy Oil prices rose for 4 days last week, touching a high above $76 on unexpectedly large Chinese export numbers and remarks from Fed Chairman Bernanke that economic recovery was on track. On Friday, however, weak US retail numbers sent prices back down to close at
Paul Horsnell, Barclays lead oil industry analyst, in a recent report
“Oil will be slower onstream, more expensive to produce, it will be more politicized and there will be less of it. All of those are factors that make us look at the current back of the oil curve and see it as undervalued at current levels of a shade below $100. We see the consequences as being more severe than the postponement of Gulf Coast volumes. It looks likely to become an iconic event,
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 Douglas-Westwood through 2020. As we are normally considered to be in the peak oil camp, the EIA’s forecast is nothing short of remarkable, and grim.”
Review June 7, 2010
Download Full PDF 1. Oil and the Global Economy For four days last week oil prices hovered around $75 depending on the latest report on economic growth prospects in the US, EU, and China. On Friday the US jobs report showed, that aside from temporary census-taker hiring, there were almost no new jobs created
Tad Padzek, Chairman Petroleum and Geosystems Engineering Dept., University of Texas at Austin
[After reviewing a live video of BP's oil leak in the Gulf] “It’s not going well. You have more or less the equivalent of six fire hoses blasting oil and gas upwards and two fire hoses blasting mud. They are losing the competition.”
