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 […]
IEA expects oil crunch worldwide Read More »
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
Peak oil is near… around 2015 ! Read More »
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
Record profits for oil majors in 2006 Read More »
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
An increased oil production in Canada Read More »
