Archive for July, 2008
NYMEX crude oil futures plummeted today as gasoline inventories were discovered to be much larger than expected AND demand continues to erode, along with the U.S. economy.
But, there is light on the horizon. Much of the blame for the worsening economy can be laid on the price of crude oil. With that price coming down, the [...]
Plenty of credible sources have claimed for decades that oil supply is nearing it’s inevitable end. When I started drinving, I paid $0.91/gallon for gasoline. That incredibly high price was evidence that we had nearly drained the ground of black gold. Decades later, with millions of more barrels being produced daily than back then, the myth persists.
This peak oil [...]
That’s a lot of title to swallow, but it’s such an interesting puzzle. The media tends to simplify things and lately that has manifested itself in the reporting on the booming oil industry. Oil prices are at all-time highs, producers are defending the price of crude oil, countries where oil is in high demand are complaining, [...]