Peak Oil Review – Aug 25, 2008

1. Production and Prices

2. Electricity Supplies in Asia

3. Liquified Natural Gas (LNG)

4. Briefs

1. Production and Prices

In recent weeks oil prices have been linked to the US dollar, rising as it falls and sliding as it rises. Occasionally the pattern is broken by some major fundamental or geopolitical development. The dollar generally has been rising on the perception that the EU’s economy may be doing worse than that of the US and efforts by European bankers to support the dollar. […]

2. Electricity Supplies in Asia

Inadequate power supplies are doing serious damage to countries in many parts of Asia. Power cuts are lasting longer and longer and are not only hurting the quality of life and threatening health and safety, but are starting to do serious damage to industrial and agricultural production in several countries. In one or two cases, the possibility of complete societal collapse in the next few years is not out of the question. […]

3. Liquified Natural Gas (LNG)

As prices for oil and coal have risen dramatically in the last six months more countries are seeking to import LNG. Japanese imports are up due to the earthquake damage to its largest nuclear power plant. Last month China paid a record $15 per million BTUs for three spot cargos. This was nearly five times the amount that China pays for LNG under long-term contracts with Australia. […]

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