Peak Oil Review – July 20

1. Demand, production, and prices

2. South Asia

3. China

1. Demand, production, and prices

Starting in the vicinity of $60 a barrel on Monday, oil prices closed at $63.56 on Friday for an increase of 6 percent — after falling more than 10 percent the week before. There was little oil-related news behind the rally. Increased profits at two Wall Street firms lifted the stock markets. A weaker dollar, signs that China may be recovering, and a slightly optimistic Federal Reserve report contributed to the price rise. […]

2. South Asia

Largely unreported in the western press are the devastating effects that electric power shortages are having on the Asian sub-continent, particularly in Pakistan and India. While the underlying cause of these shortages is insufficient investment to keep up with growing populations and economies, poor monsoons in recent years have led to drastic cuts in hydro-electric production. This, coupled with falling natural gas supplies and coal shortages, suggests serious consequences before year