Archive for Oil
Oil prices are breaking record every month since the beginning of the year. Today they reached an unprecendented level of $142 at the New York Mercantile Exchange.
This occurs only seven weeks after oil prices reached $130. This phenomenom is most likely to continue as some forecasts infer that prices may reach $170 this summer.
The Financial Times propose us once again an interesting insight of this event by giving us the reasons and data behind such a continuous increase. Continue reading »
G8 countries to cut oil consumption
Posted by: on June 9, 2008 in Tags: China, Efficiency, Energy, Europe, India, Oil, USAYesterday, the eight leading economies met in Japan, alongside with China, India and South Korea. One of the main topics of discussion was the soaring prices of oil and energy.
To counter this, they pledged to invest massively in energy efficiency and low carbon technologies such as renewable energies, nuclear and carbon capture and storage (CCS).
This is an important event as the eleven countries present at this meeting account for nearly two thirds of the world energy consumption and CO2 emissions. Continue reading »
According to the Daily Green, the International Energy Agency is wondering if oil supply can still answer to the demand and is investigating the situation for the first time of its history.
In other words, the IEA believes that peak oil may have been reached already. Indeed, with oil prices increasing by thirty percent in just a few months, one can seriously wonder.
This is a critical question for our economies as this energy source accounts for nearly a third of the global energy mix. Continue reading »
As I am speaking, the crude oil prices at the New York Mercantile exchange are above $130. This occurs only 15 days after oil prices reached $120.
This is a strong acceleration in the oil prices increase as previously it took around two months for oil prices to increase by ten dollars.
The cause for such a fact was the OPEC which doesn’t plan to increase their production and fears over stocks. Continue reading »
Yesterday, the price of sweet light crude rose for the first time in History over the $120 limit at the New York Mercantile Exchange.
As it was the case previously, this is due to the weakness of the US Dollar and to supply concerns of OPEC members (this time, it is Iran and Nigeria).
Oil prices first reached $100 early this January, then $110 in March. I seriously wonder at which levels oil prices will finally stop. If they stop at all. Continue reading »
The president of the OPEC stated earlier this week that oil prices might keep on climbing steadily and reach 200 USD per barrel before year end.
This might seem far-fetched, but since the beginning of the year, oil prices rose by nearly 20 percent and there is no sign that the situation will reverse.
Meanwhile, the people of the OPEC believes that offer equals demand and that they don’t need to increase production. Continue reading »
WWF wants more plug-in cars
Posted by: on April 18, 2008 in Tags: Climate change, Energy, Oil, transport
95 percent of road transportation still depends on oil, and this is major problem as oil prices keep on increasing and as peak oil nears inexorably. This is major drive to find a solution.
The WWF, the renowned environmental organization, released earlier this month an interesting report on what they believe should be the future of automotive : plug-ins models.
These cars are as the name suggests are (at least partly) plugged in to the electrical grids and thus do not depend on oil and indeed represent a good solution. Continue reading »
Oil prices reached 110 USD a barrel !
Posted by: on March 13, 2008 in Tags: Efficiency, Energy, France, OilThat’s it, yesterday at the New York Mercantile Exchange the oil prices reached $110 for the first time in History. This occurs only two months and a half after it reached $100.
This can be explained by the fact that the Dollar is weakening as time goes and as now the Euro is worth $1.55. This becomes a serious problem for the purchasing power.
This event should push leaders worldwide to work seriously on energy efficiency and behavioral changes as they are the only permanent solutions. Continue reading »
2008 will see many new records for oil prices as already yesterday the price did hit $100 per barrel at the New York Mercantile Exchange (NYMEX).
This represents both a record price and a psychological barrier as never before did the prices hit these levels. During the two oil shocks, the record was of $90.46.
According to experts, oil prices might reach $120 or even $130 this year. This is a serious signal for alternatives and energy efficiency. Continue reading »
Oil producing countries to export less fossil fuels
Posted by: on December 16, 2007 in Tags: Energy, Oil
The IHT proposed on December 9th an interesting article on the future of the oil market which brings even more gloomy prospects.
The article strongly reinforces my opinion that we (France, Europe, the entire world…) should work fast on energy efficiency in order to consume less energy.
To the journalist, oil-rich countries like Mexico or Indonesia see their indigenous demand increase rapidly. This leads to a decrease of their exports of fossil fuel.
