Now this is … strange ? odd ? bizarre ? weird ? I was reporting in October that oil prices had dropped below $90, but last week they went even lower with as little as $50 a barrel. This is a 55% drop compared to last June.
This was my reaction when I saw oil prices drop recently to levels below $90. Not long ago they were indeed more around $110 than anything else. Lucky for us Thomas L Friedman from the New York Times brings some answers…
With shale oil and other extreme oil sources, many think peak oil is dead, or at least is not threatening our economies. But this couldn’t be more wrong. The historic average oil prices are of $25. Current prices are above $110 a barrel. Five years ago, they were less than half of that. As the… Continue reading Is Peak Oil real ? Yes, and it is here
How oil prices are just keeping on increasing and how they are just going to go up and up.
In French, we have an expression, ” la fuite en avant “ which can be explained this way : “A fuite en avant is something one does when one is in a losing situation, and one hopes to salvage it by doing more of the same or worse.” Not that I want to delve into… Continue reading Oil : the headlong rush
While some magazines print sensationalist articles, some other prefer to carry out real research with real facts and figures. New Scientist indeed published an interesting article on what they call extreme – or unconventional – oil. Understanding that peak oil is either near or already arrived we can either burn as much unconventional oil as… Continue reading Extreme oil anyone ?