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Review December 26, 2011
Download Full PDF 1. Oil and the Global Economy Last week the balance of forces moving oil prices shifted from concerns about what would happen to demand should the Eurozone falter to worries about supply disruptions. As new waves of unrest flared in Syria, Iraq, Egypt and Kazakhstan, prices rose steadily until by week’s end oil was trading 6.6
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from Exxon Mobil’s 2012 Outlook for Energy
“Much attention is paid to new energy technologies, with good reason. But it also is important to know that most of today’s liquid fuels come from fields that have been producing for decades. More than 95 percent of the crude oil produced today was discovered before the year 2000. About 75 percent was discovered before 1980.” – from Exxon Mobil’s
Review December 19, 2011
Download Full PDF 1. Oil and the Global Economy Oil prices fell sharply last week as concerns about the ongoing European debt crisis outweighed unrest in the Middle East. NY oil closed out the week at $93.50 down by $6 for the month. In London crude closed the week at $103.35 after trading close to $111 on Tuesday on concerns that Iran was threatening
Mohammed Bin Dhaen al-Hamli, oil minister for the UAE
“The challenge for producers such as the (United Arab Emirates) is to continue producing oil and gas from existing reservoirs while, at the same time, developing new opportunities… It is no secret that the days of easy oil are coming to an end.”
Review December 12, 2011
Download Full PDF 1. Oil and the Global Economy Oil prices increased a little in the first days of last week on concerns about the Iranian standoff but then fell as it became apparent that the new European settlement likely would have little effect on the current debt problem. NY oil settled at $99.41,
Kevin Drum
“Saudi Arabia has been making excuses for years for their inability to produce more than 10 million barrels of oil per day. They’re publicly stating - for the first time, I think - that they aren’t going to keep up the pretense anymore. Their exploration and drilling program is over, and 10 million barrels is as good as it’s ever going to get.” – No Comments • Read this story »
--->Review December 5, 2011
Download Full PDF 1. Oil and the Global Economy NY oil prices climbed steadily last week as worries about the effects of sanctions on Iran outweighed concerns about the Eurozone crisis. Starting the week at $97 a barrel, oil closed Friday just below $101. In London where prospects for the survival of the
Robert Rapier
“In its simplest form, Peak Oil means that just as oil production in the US peaked in 1970 and began to decline, so shall global production do the same. Once you get past that basic premise - one in which there is near-universal agreement once people understand that is what you mean when you say “Peak Oil” - there are many different opinions of exactly how events will unfold. The
Review November 28, 2011
Download Full PDF 1. Oil and the Global Economy Oil prices were little changed last week as the European sovereign debt crises and the various upheavals and machinations taking place in the Middle East roiled the markets. NY oil closed at $96.77 and London at $106.40 — both down about 1 percent for
US Secretary of State, Hillary Clinton
“You can’t talk about our economy or foreign policy without talking about energy. With a growing global population and a finite supply of fossil fuels, the need to diversify our supply is urgent.” – US Secretary of State, Hillary Clinton
