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GAIA Host Collective
If you read Fatih Birol's comments, what he's saying sounds more like with or without Iraqi oil we are in "big trouble by 2015".
WTI < Brent < Tapis. So, marginally higher gas demand in the U.S. relative to refining capacity coupled with Asia scrambling to meet the dual challenges of local demand growth and America yowling for gas imports while despite high oil prices we're incentivized to stockpile crude ahead of even higher prices?
And despite all this, the National Hurricane Center stubbornly continues to report that "there are no tropical cyclones at this time in the Atlantic, Caribbean Sea or Gulf of Mexico?"
I don't get it.
Er, what should they be reporting?
Apparently, since they predicted an over-active hurricane season, there should always be one there no matter what. DAMN YOU WEATHER CHANNEL!! DAMN YOUR MISREPORTING!!
NOAA predicted the hurricane season, not the Weather Channel.
Maybe they should be reporting that Total Crude and Product stocks are near the top of the five year range as charted above, proving definitively that Peak Oil has arrived!