Search The Oil Drum with Google
Recently on TOD:World
TOD:Local
- Home Buyers Demand Short Commutes, Efficient Homes (with Backyards, Parking, lots of Square Feet)
- Streets: Utilitarian Corridors or Livable Public Space
- Summer Streets a Success!
TOD:Europe
- IEA WEO 2008 - NGLs to the Rescue?
- IEA WEO 2008 - Fossil Fuel Ultimates and CO2 Emissions Scenarios
- The IEA WEO 2008: Will coal usage be phased out?
TOD:Canada
- The Round-Up: October 24, 2008
- Compressed Air Energy Storage - How viable is it?
- Oil Megaproject Update (July 2008)
TOD:ANZ
Blogroll
Energy Sites
- The Coming Global Oil Crisis
- Die Off
- Dry Dipstick
- Energy Bulletin
- From the Wilderness
- Life After the Oil Crash
- Peak Oil Crisis
- Peak Oil News and Message Boards
- Powerswitch
- Rigzone
- Matthew Simmons
- Wolf at the Door
Environment & Sustainability Sites
- The Daily Green
- EcoGeek
- Eco Street
- Green Car Congress
- Green Options
- green.alltop.com
- Gristmill
- RealClimate
- Sustainablog
- Treehugger
- WorldChanging
Blogs
- The Big Picture
- Casaubon's Book
- Cleantech Blog
- Clusterf
k Nation (Jim Kunstler) - The Cost of Energy
- David Strahan
- The Energy Blog
- Entropy Production
- European Tribune
- GraphOilology
- jeffvail.net
- Mobjectivist
- Peak Energy (Australia)
- Peak Energy (USA)
- R-Squared
- Resource Insights
Finance & Economics Blogs
- Calculated Risk
- Ecological Economics
- Econbrowser
- Environmental Economics
- Infectious Greed
- The Mess That Greenspan Made
- Mish's Global Economic Trend Analysis
Organizations
“Pessimism of the Intellect; Optimism of the Will.”
—Antonio Gramsci
User login
Contact
- Content: editors at theoildrum dot com
- Tech support: support at theoildrum dot com
Personnel
- Editors: Prof. Goose, Heading Out, Stuart Staniford, Nate Hagens
- DrumBeat Editor: Leanan
- Contributors: ace, Engineer-Poet, Gail the Actuary, jeffvail, JoulesBurn, Khebab, Robert Rapier
- TOD:Local: Glenn
- TOD:Europe: Chris Vernon, Euan Mearns, Francois Cellier, Jerome a Paris, Luís de Sousa, Rembrandt, Rune Likvern, Ugo Bardi
- TOD:Canada: benk, Libelle
- TOD:ANZ: Big Gav, Phil Hart, aeldric
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
One interesting thing about the recent http://futures.tradingcharts.com/chart/CO/B7 > price action in crude oil is that it would appear to be being driven by strong fundamental factors. Over the past month, crude oil has pushed higher steadily day by day. This isn't action driven by news or rumors with surges and pull backs, this is unidirectional and with a purpose. It suggests that something is changing in the underlying supply and demand dynamics and that this surge could take us to $100 and beyond.
Tea leaves? Perhaps, but these markets are driven by the commercials and they have their finger on the pulse of supply and demand.
Julian Darley has http://globalpublicmedia.com/chris_skrebowski_on_record_high_oil_price > interviewed Chris Skrewbowski on the current supply demand situation over at Global Public Media and his conclusion is that there probably won't be enough supply to meet the increased demand of the northern hemisphere winter.
Something will turn the Excursion drivers into Prius owners and my guess is it won't be our telling them hybrids are good for the planet!
IMO, supply and demand figures are becoming less meaningful. As more ME oil is pulled off the futures markets and sold through contracts in non-US dollars, more activity in dollars will be driven to the dollar based hubs.
It was reported last week that Shell bought more Omani hub based UAE oil than is actually produced there. Why? Probably because that's the only place they can get it. Now the banks are going to have to find the oil to fill the orders or sell their contracts at a loss.
People seem to forget that the Oman and Brent Hubs are skeletons of what they once were. Saudi Arabia is clearly not selling much oil there.
This is a weak dollar phenominon. The problem is few analysts can see pricing in three demensions, supply, demand and currency exchange.