Peak Oil Review – Feb 2

1. Production and Prices

2. Obama

1. Production and Prices

Oil prices climbed as high as $48 on Monday, collapsed to the low $40s on Tuesday and remained there for the rest of the week. The fall was precipitated by another round of bad economic news which once again outweighed the prospects of OPEC production cuts. Although OPEC officials maintain that the organization was on track to finish its 4.2 million b/d production cut by the end of January, tanker-trackers say the members are still shipping at least 1 million b/d above that goal. […]

2. Obama