Part VI of the Simmons, Hirsch Interview.
Sunday, March 29, 2009
Peak Oil is Back!
Take a look at this recent interview with Matthew Simmons by Steve Pakin of TV Ontario. It looks like oil prices may make another run up as a result of supply-side tightness.
Thursday, March 19, 2009
Gas prices touch $51 per barrel
On U.S. stimulus news, oil prices increased today by 6% to $51 per barrel.
Are we in for another bull market in oil and gas. This observer believes that we are.
What will the short term and long term effects be? Let's see.
Are we in for another bull market in oil and gas. This observer believes that we are.
What will the short term and long term effects be? Let's see.
Wednesday, March 18, 2009
Oil Falls slightly from $48 per barrel
I fail to see why oil prices will not continue to rise even though the world economy is in recession and demand is down. The truth of the matter is that global consumption of oil still pretty close to levels prior to the recession. Eventually the now limited supply of oil (production near its peak on the bell curve)is going to drive up prices. We may already be seeing this as oil is off its $30 lows. The question is, will increased prices drive the world economy into a recesion or will some economies, such as that of China, be better-equipped to cope with high oil prices than others because labour and other input costs in China are still relatively cheap?
Friday, February 27, 2009
Peak Oil is not over
It's been a while since my last posting.
I believe that the current $44/barrel oil price is not going to last and that we will see higher oil prices within two years.
With the current economic downturn and attendant demand destruction, global oil consumption has only decline some 1.2 million barrels a day.
China will become a major competitor for oil around the world over the next few years.
I believe that the current $44/barrel oil price is not going to last and that we will see higher oil prices within two years.
With the current economic downturn and attendant demand destruction, global oil consumption has only decline some 1.2 million barrels a day.
China will become a major competitor for oil around the world over the next few years.
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