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Analyst: Oil shortfalls to drive price increases, dictate alternatives
Oil and Gas Journal: Analyst: Oil shortfalls to drive price increases, dictate alternatives Excerpt:
The world is facing a future of oil price increases that will occur sooner than many people now believe, concluded Canterbury, England,-based energy analysts Douglas-Westwood Ltd. in the third edition (2004-50) of its World Oil Supply Report published Wednesday.
Leading to that judgment are three fundamental findings study author Michael R. Smith of EnergyFiles Ltd. said were “strongly evident” from the study: increasing oil demand coupled with falling reserves and a decline in discovery.
OPEC takes back seat as oil prices run riot
OPEC oil producers appear to have lost control of a surge in prices that ministers say is being driven by forces out of the cartel
Oil boom sparks fuel price surge
UK petrol prices could soon rise to levels not seen since the autumn of 2000, when widespread protests caused fuel shortages.
Andrew McKillop: Whatever happened to bargain basement oil?
“…who needs oil to manufacture PCs, their plastic keyboards or fiber optic cables, let alone install them 2 meters under the pavement in low energy modern cities, and heat the backsides of keyboard tapping online consumers?”
OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES
Venezuelan Minister of Energy, Mines Rafael is putting out more smoke
snip…
many experts of the oil market believe that no actions of the exporting countries can hamper the further growth in oil prices.
The Coming Collapse of China
Here’s a review of a new book “The Coming Collapse of China”
By Gordon C Chang
you can guess what it’s about
Cheap oil myths and energy transition; Record economic growth and high oil price
A nice history and commentary of oil prices past and present.
Qatar Oil Min Says Oil Prices High On Speculators
Qatar’s Minister of Energy and Industry Abdullah bin Hamad al-Attiyah think that Geopolitics and speculators are behind high oil prices. He is quoted:
“I’m not happy the market is fluctuating,” he said. “I’m very
concerned…high prices are not due to a shortage of supply,”
Maybe you can afford that SUV of your dreams
linked from
The default internet explorer home page
Normally when you buy a company car, you’re required to depreciate it over time. (The Year One deduction was raised from $7,660 to $10,710 in the tax reform package passed a couple of years ago, but that provision is set to expire at the end of 2004.)
A notable exception to the rule are vehicles rated at more than 6,000 pounds of gross weight, meaning the loaded weight of the vehicle. In such cases, up to $20,000 of the purchase price can be deducted as a business expense in the year of purchase, with the remainder subject to depreciation.
Cheal oil myths and energy transition
PetroleumWorld has an article that claims that worldwide demand for oil grew for 10 years at 1.25%-1.5% is now well above 2%. This quote pretty well sums it up:
“Overall, the supply/demand system is both fragile and stretched to the limit.”
Forget About Cheap Oil
Bussiness Week article talks about hedge funds, OPEC, changes in Saudi Arabia. This quote pretty well sums it up:
“There’s a lot more going on behind the scenes in the global oil market.”
NORWAY FAVORS A CRUDE PRICE RANGE OF $20-$30 PER BARREL
Norwegian Minister of Oil and Energy Einar Steensnaes says:
“Norway, a major non-OPEC oil producer and the world’s third-largest oil exporter, has said it favors a crude price range of 20-30 dollars per barrel.”
“Any price range between 20 and 30 dollars a barrel will be acceptable. We should leave it to the market fundamentals to decide the price … However, we will not allow the market to have prices that jump to extreme high levels, or low prices”
ExxonMobil Angola Subsidiary Announces Seventeenth Deepwater Discovery
ExxonMobile Found 4.5 Billion Barrels in Angola Block 15. Read about it in the:
U.S. Oil Hits 6-Week High
Light Crude hits $36.25 a barrel. Can Peak Oil be far behind? Article quote:
The bullish market tone was reflected by new statistics from the U.S. Commodity Futures Trading Commission (CFTC), which said on Friday that net long positions held by crude oil speculators on the New York Mercantile Exchange hit a 4- year high.
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