(This post was published earlier this year on Medium. Sorry for the lack of content this year. Hopefully, 2021 will bring more exciting stories and analysis…) The ongoing COVID-19 pandemic has brought our global economy to a standstill, with fears of the worst recession since 1929. Over 26 millions have already lost their jobs in… Continue reading The COVID-19 Pandemic Throws Oil and Coal Industries in a Tailspin
When Bloomberg writes that in the United States “ Big Oil Is About to Lose Control of the Auto Industry ” you know there is something going on, especially when they rely on solid BNEF study and data.
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…
Oops, we did it again. Oil prices are again on the rise and reached recently $114 a barrel. This is their highest levels since 2008. Fears of current events in Iraq are explaining this. As Bloomberg noted : ” The international benchmark surged above $114 on June 13 for the first time in nine months… Continue reading Oil prices reach 114 USD a barrel
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
Years ago I was often reading The Oil Drum, a great website dedicated to oil and other energy issues. Years later, the website still provides great content and I am glad to have read one of their latest posts : Our Energy Predicament in Charts. This post is an excellent introduction to energy issues for… Continue reading A primer on our current energy predicament
How oil prices are just keeping on increasing and how they are just going to go up and up.
To the prestigious International Energy Agency :” If oil averages USD 120 per barrel in 2012, the global oil import burden is set to reach a record high of over USD 2 trillion, or USD 5.5 billion per day “ Their press release goes on : ” The current price levels are on average higher… Continue reading Oil prices : from a recession to another
In this economy, I am sure you are careful about how you spend your money and really think about how you will make ends meet this month or the next as the economy might head toward another recession as oil prices go up. However, each time you are putting 50 euros in your gas tank,… Continue reading Throwing money out of the window
This is the question as we are breaking record high prices. To Reuters: ” Brent oil priced in euros hit a record high on Thursday on heightened tension between Iran and the West while U.S. stocks neared peaks not seen since 2008. “ ” The rise in Brent, the benchmark for European crude and most… Continue reading Could oil prices increase exponentionally ?
To Reuters : ” An Ecuadorean appeals court on Tuesday upheld a ruling that Chevron Corp should pay $18 billion in damages to plaintiffs who accused the U.S. oil giant of polluting the Amazon jungle and damaging their health. “ ” A judge ordered Chevron to pay $8.6 billion in environmental damages last February, but… Continue reading Chevron to pay $18 billion to Ecuador