gasoline prices of $.96.9 per gallon in 1998 and early 1999 versus $3.15.9 average in 2007. In 8 years, the cost has gone up more than 200%, yet, the cost of getting the product out of the ground and to the market has increased by less than 30%? Something smells, BADLY. Bob...
These issues also raise questions as to the feasibility of using natural gas as a substitute fuel for transportation within Europe. The IEA, in its Mid Term Market Gas & Oil 2010 report, shows growing natural gas demand in Europe, similar to what one might expect if natural gas is being u...
Everybody loves a good circus but the traditional take on the circus with its performing animals, trapeze artists and clowns are pretty much a thing of the past
Even if this economic downturn is somewhat different from previous ones, it seems like strong growth in oil prices in 2008 is instrumental in slowing down OECD economies. In the early 1980s, some substitution took place, mainly replacing oil consumption with nuclear and natural gas consumption. T...
I now must side with those predicting declining oil prices for the next year and probably two. With production capacity up over that period and demand falling, the inelastic nature of the demand curve should take over unless the Saudi’s cut production millions of barrels a day. Peak oil is...
As far as renewable energy( as electricity) replacing oil, we can estimate that it will be better than 1:1, in other words the 160-200MJ used to refine and present in 1gallon(or 4litres)of gasoline can be replaced by 10kWh(36MJ) of electrical energy used in a similar sized vehicle...
oil production in the Middle East would have to double by 2030 to over 50 million barrels per day, and proposed “a targeted study to examine the capital and investment requirements of key Gulf countries”. So on the eve of the invasion British and American officials were secretly discussing ...
The findings suggest the world will struggle to produce enough oil to make up for steep declines in existing fields, such as those in the North Sea, Russia and Alaska, and meet long-term demand. The effort will become even more acute as prices fall and investment decisions are delayed. ...
Yes, Russia's rising prosperity is clearly due to agreements that make trade profitable (codewords for the WTO. As we know, trade isalwaysprofitable and must be expanded) butto which it is not yet a party. It has nothing to do with the higher prices for its main exports (oil, gas an...