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Oil prices have risen amid growing optimism that improved US job creation will boost economic recovery and lead to higher demand for crude...
Peak Oil Wiki
World oil production growth trends were flat from 2005 to 2008. According to a January 2007 International Energy Agency report, global supply (which includes biofuels, non-crude sources of petroleum, and use of strategic oil reserves, in addition to crude production) averaged 85.24 million barrels per day (13.552×10^6 m3/d) in 2006, up 0.76 million barrels per day (121×10^3 m3/d) (0.9%), from 2005. Average yearly gains in global supply from 1987 to 2005 were 1.2 million barrels per day (190×10^3 m3/d) (1.7%). In 2008, the IEA drastically increased its prediction of production decline from 3.7% a year to 6.7% a year, based largely on better accounting methods, including actual research of individual oil field production through out the world.
However, scientists led by the London-based Oil Depletion Analysis Centre, say that global production of oil is set to peak in the next four years before entering a steepening decline which will have massive consequences for the world economy and the way that we live our lives.
Originally posted by DangerDeath
Why is the price of oil rising?
Is there an increased demand?
Or is it monopoly wars?
Originally posted by Rockpuck
reply to post by unityemissions
The price of oil is rising because the US Dollar is depreciating.
Peak oil is a myth.
California's public pension funds are underfunded by as much as $500 billion, according to a Stanford University study that was commissioned by Gov. Arnold Schwarzenegger and released Monday. [...]
"This study reinforces the immediate need to address our staggering pension debt," Schwarzenegger said in a statement. "According to the study, California taxpayers are on the hook for over a half-trillion dollars. That's nearly six times the size of our entire state budget."
Have you noticed that Falklands are again becoming important? Behind those islands, they say, are 1/4 of worlds oil reserves (Antarctica).
Stocks indexes futures edged lower on Wednesday as investors were cautious ahead of a speech by Federal Reserve Chairman Ben Bernanke and an auction of 10-year Treasury notes amid concerns about rising yields...