That was my reaction today when I saw how high oil prices went today in world markets. In the US, “The supply situation is dire,” said Phil Flynn, a senior energy trader at Alaron Trading Corp. in Chicago. “Crude-oil inventories are dangerously low. We are only one small problem away from the minimum amount needed … More Oil prices: uuf dah!
This Insight magazine article from 19 February explores the possibility that Venezuelan president Hugo Chavez has contacts with, or will increasingly form contacts with, terrorists who want to flex the oil muscle. From the article’s introduction: As Washington prepares a high-stakes military venture in the Persian Gulf, a growing physical threat is being posed by … More Venezuela and terrorism?
The uncertainty, and the continuing unrest in Venezuela, keep pushing those oil prices higher and higher. See for example this BBC article, this Forbes article, this ABC News article, and this Financial Times article. Ugh.
Just got back yesterday from Philadelphia, and the Mercatus Center Congressional Chief of Staff Retreat. Very fun, lots of good conversations.
Many thanks to Mindles Dreck for re-introducing (or introducing, in my case) us to Sophismata, replete with interesting stuff, including this insightful analysis of power efficiency and price efficiency. Yay! That’s a point that will become increasingly important as we weigh increasing our energy generation from renewable sources, and particularly in light of the energy … More Sophismata
Here’s an article from Oil and Gas Journal that describes some outlooks and forecasts for oil and natural gas markets, from energy experts at Cambridge Energy Research Associates. Punchline: oil prices will fall over the course of this year, but US natural gas prices will increase as supplies strain to keep up with increased demand … More Oil and gas forecasts
On Wednesday, Exxon Mobil will load Venezuelan oil onto a tanker, the first US oil company to do so since 2 December.