<DrumBeat: January 2, 2008 The Oil Drum DrumBeat: January 3, 2008>

151 comments on $100 Oil - Open thread

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Leanan on January 2, 2008 - 7:49pm Permalink | Subthread | Comments top

"Peepers" at PO.com linked to this graph as an explanation of why prices are spiking;

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ruizscar on January 2, 2008 - 7:50pm Permalink | Subthread | Parent | Comments top

http://rebelresource.wordpress.com

Documentaries on energy scarcity in the first category - enjoy

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b3NDZ3La on January 2, 2008 - 8:21pm Permalink | Subthread | Parent | Comments top

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:

"The problem with these oil companies is, they have more cash coming but no place to drill."

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Nate Hagens on January 2, 2008 - 7:52pm Permalink | Subthread | Parent | Comments top

Thanks -that is a Johnson Rice graph from last weeks TOD TWIP

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jjhman on January 2, 2008 - 9:45pm Permalink | Subthread | Parent | Comments top

A good example of rate of change being more important than the absolute number (dy/dx)

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TheMagus on January 3, 2008 - 5:53am Permalink | Subthread | Parent | Comments top

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?

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151 comments on $100 Oil - Open thread

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