95 percent of road transportation still depends on oil, and this is major problem as oil prices keep on increasing and as peak oil nears inexorably. This is major drive to find a solution. The WWF, the renowned environmental organization, released earlier this month an interesting report on what they believe should be the future …
That’s it, yesterday at the New York Mercantile Exchange the oil prices reached $110 for the first time in History. This occurs only two months and a half after it reached $100. This can be explained by the fact that the Dollar is weakening as time goes and as now the Euro is worth $1.55. …
2008 will see many new records for oil prices as already yesterday the price did hit $100 per barrel at the New York Mercantile Exchange (NYMEX). This represents both a record price and a psychological barrier as never before did the prices hit these levels. During the two oil shocks, the record was of $90.46. …
The IHT proposed on December 9th an interesting article on the future of the oil market which brings even more gloomy prospects. The article strongly reinforces my opinion that we (France, Europe, the entire world…) should work fast on energy efficiency in order to consume less energy. To the journalist, oil-rich countries like Mexico or …
Oil producing countries to export less fossil fuels Read More »
After reaching the $85 limit per barrel earlier this week, oil prices went shortly last night over $90 at the New York Mercantile Exchange (NYMEX). This is explained by many factors such as geopolitical tensions or the exceptional weakness of the dollar as it reached a record level of $1.43 against the euro. As we …
Oil prices have been increasing for weeks and a new record was just set in London and New York as oil prices reached $85 and even $86 per barrel today. This is due to some tensions occurring between Turkey and Iraq. This is an occasion to get back to an article on oil that was …
This was the question David Straham asked himself on his blog. I already talked about him when I reviewed his oil depletion atlas. (cf. Peak oil is near… around 2015 ! ) Unlike what one might think, the depletion of oil resources aren’t due to solve global warming, but is more likely to increase it. …
Would peak oil solve the climate change problem ? Read More »
The International Energy Agency (IEA) released on Monday a study on the middle term market for oil. According to the Financial Times and Les Echos, the oil prices aren’t due to decrease between 2007 and 2012. According to the FT : “In its starkest warning yet on the world’s fuel outlook, the International Energy Agency …
I came across a very interesting website today via an article from Les Echos. This page is about peak oil, the point where half of oil reserves will be used up and according to this source, it should occur around 2015, ie. in less than ten years. David Strahan, the author of The last oil …
2006 will be remembered as a year where the price of the barrel of oil hit shortly $80. Oil is a very lucrative business, to exemplify my statement I will give below the profit earned by the five major oil companies worldwide. According to the Figaro (dated 2/2/2007, page 22) the average price of the …
