As I am speaking, the crude oil prices at the New York Mercantile exchange are above $130. This occurs only 15 days after oil prices reached $120. This is a strong acceleration in the oil prices increase as previously it took around two months for oil prices to increase by ten dollars. The cause for […]
Oil prices above $130 Read More »
Yesterday, the price of sweet light crude rose for the first time in History over the $120 limit at the New York Mercantile Exchange. As it was the case previously, this is due to the weakness of the US Dollar and to supply concerns of OPEC members (this time, it is Iran and Nigeria). Oil
Oil prices reached $120 Read More »
The president of the OPEC stated earlier this week that oil prices might keep on climbing steadily and reach 200 USD per barrel before year end. This might seem far-fetched, but since the beginning of the year, oil prices rose by nearly 20 percent and there is no sign that the situation will reverse. Meanwhile,
Oil prices may reach $200 before year-end Read More »
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
WWF wants more plug-in cars Read More »
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.
Oil prices reached 110 USD a barrel ! Read More »
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.
Oil prices reach 100 USD a barrel Read More »
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 reached $90 Read More »
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
Oil prices reach 85 USD Read More »
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 »
