Oil prices back up, averaged $111 in 2011 2


For my ultimate post of 2011, I would like to write about something that was little to not noticed at all, yet as crucial as the increased importance of extreme weather events : oil prices were at their highest average ever this year.

According to some research carried out by the Cambridge Energy Research Associates (Cera) mentioned in Le Figaro [Fr] oil prices averaged $111 throughout 2011.

In 2008 – when oil prices reached the all-time high levels of $147 – the barrel of brent had averaged ” only ” $99. We had then noticed a near-exponential escalation of oil prices…

The graph below brought to us by Le Figaro is all too clear : after the little respite given by the recession, oil prices are back going up and up and AWAY !

Oil prices 1990-2011 - Image courtesy of Le Figaro, data by BP and Bloomberg.

I don’t know about you, but this kind of data really makes me think.

Thinking about the huge pollution induced all around the world – from Russia to Nigeria or the Gulf of Mexico – the huge efforts to retrieve a few barrels more of extreme oil, the massive air pollution in cities on the five continents…

All this to feed that darn oil addiction…

This is a pity so many of us can’t take the bus or simply don’t ride our bikes to work… This is a pity we are not embracing as we should alternatives nor energy efficiency and conservation…

This should be another wake-up call to all of us, but we are simply refusing to heed it and keep accelerating…

On this quite somber note, I wish you a happy New Year’s Eve ! See you around in 2012 !


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2 thoughts on “Oil prices back up, averaged $111 in 2011

  • nadine sellers

    Edouard, i did my part–yesterday i rode home in an Amish wagon, the driver knew me and thought my groceries were too heavy.. these wagons are most uncomfortable and cold..but i felt honored at the gift of simplicity..
    not suggesting we return to horse drawn carriages, but agree with you about mass transportation or more foot and bike traffic..it’s exercise and fresh air or at least..time to reflect upon the work day..
    petroleum is not an option on a polluted planet in an endangered climate.