151 comments on $100 Oil - Open thread
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151 comments on $100 Oil - Open thread
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"Peepers" at PO.com linked to this graph as an explanation of why prices are spiking;
http://rebelresource.wordpress.com
Documentaries on energy scarcity in the first category - enjoy
ruizscar, thanks a mint for that link. There's a wonderful documentary there I hadn't seen.
Everyone stop what you're doing right now and watch Africa: America's New Oil Target.
It is remarkable.
It's even quaint: released in Nov of 2006, this film shows the worldwide reaction to oil hitting $50/barrel in 2005. Horrors!
A good quote:
Thanks -that is a Johnson Rice graph from last weeks TOD TWIP
A good example of rate of change being more important than the absolute number (dy/dx)
So prices are spiking in order to attract more exports to the USA? But how does this work? I mean if Brent and all the rest go up proportionally too? Will it work.....will imports to the USA soon increase now?
Another question: Can someone please tell me what world oil consumption actually is for the last 3 years? That is monthly world production +/- monthly changes in OECD inventory. Can't numbers be produced very easily this way showing how world oil production is incapable of meeting demand without drawing down inventories (since early 2007 I think), and thus making OPECs decisions look weak? Or are the drawdowns in OECD crude inventories just not that significant yet?