Being systematic, here are the primary reasons for the rise in gasoline prices in March 2004: 1. High world crude oil prices. These prices are partly the consequence of conscious OPEC supply constriction to raise price. OPEC?s ability to do so is typically constrained by three interrelated factors: the world demand for oil, cheating on …
Producer prices fell 1.9 percent in April, at least as a first estimate. Much of that fall is due to energy price declines, the biggest in 17 years. As Reuters reports it: Excluding food and energy costs, the core PPI fell 0.9 percent in April, compared to a rise of 0.7 percent in March. The …
This Christian Science Monitor article and this Economist article provide some insightful analysis on the economic costs of high oil prices. Regular readers of this page will already know much of what’s contained in these articles — the unfortunate concatenation of Venezuelan unrest, possible war in Iraq, and an unusually cold winter in the US …
I expect oil prices will hover around $40/barrel for a bit here, especially if Kuwait closes its northern oilfields to protect them in case of US-Iraq action and OPEC is really producing as close to capacity as they say they are. Thank goodness for proven reserves and increasing production in Azerbaijan, Kazakhstan, and Russia, and …
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 …
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 …
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.
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 …
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 …
On Wednesday, Exxon Mobil will load Venezuelan oil onto a tanker, the first US oil company to do so since 2 December.
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