Stories tagged with kashagan

The Forest and the Trees -- the Oil News Imbalance

Posted by Dave Cohen on September 20, 2006 - 7:26am
Topic: Supply/Production
Tags: angola, bp, kashagan, kazakhstan, nigeria, russia, sakhalin, thunder horse [list all tags]

A news imbalance exists in the reporting of supply-side developments affecting peak oil claims. Apparently, there is nothing but good news lately—actually, this is being reported as the absence of bad news. This trend has driven down oil prices since early August. Is the trend real? Today, Barrie McKenna reminds us in Those quick to deride peak oil theory also don't know Jack about the bigger picture.
A chronic pitfall for economists is that the daily deluge of data often obscures more meaningful long-term trends...

It's that old adage of not seeing the forest for the trees...

With oil now in the low $60 range, many economists are rethinking their assumptions of last year...

The problem in all this is that the peak oil theory isn't about $78-a-barrel oil. And the price of abundance isn't necessarily $63.

Let's look briefly at the forest, not the trees. There's plenty of bad news.
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