Peak oil review – Aug 3

1. Production and prices

2. Priorities

3. Mexico

4. Briefs

1. Production and prices

It was a very volatile week with oil prices starting off at $68 a barrel, falling to $63 at mid-week, and then bouncing back to close out the month at $69.50. Once again, the fundamentals of the oil market had little to do with price movements which remain tied to fluctuations of the US dollar and perceptions as to when the recession will end. […]

2. Priorities

The chief scientist at the Department of Energy, Stephen Koonin, warned the Western Energy Summit that moving away from fossil fuels will require a calibrated judgment about what projects should be pursued and in what order. […]

3. Mexico

Pemex