Oil

Record profits for oil majors in 2006

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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 […]

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An increased oil production in Canada

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Last week, Radio Canada announced that their local government will increase in a large way the oil production to answer the demand from the USA. The demand could thus be multiplied by a factor five before 2015. Putting the oil supply from 1 million barrel per day to five million will require to extract more

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