Oil price: Brent crude hits 11-year low
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Re: Oil price: Brent crude hits 11-year low
#2Where are the peak oil prophets?
Re: Oil price: Brent crude hits 11-year low
#3Quasi "outages" in California refinery crackers are bucking the price decreases of gasoline in California. In 30 states, gasoline is under $2/gal but in California, it is north of $2.50, and it isn't even the expensive summer blend.
Re: Oil price: Brent crude hits 11-year low
#4Where are the peak oil prophets?
looking for work.
Re: Oil price: Brent crude hits 11-year low
#5It's probably good enough for consumer finance sites, but they should really factor in inflation. Inflation has been below average recently, so the margin of error is not that large, but still ~1.015^10=1.16 which means that price drop is steeper than reported.
Re: Oil price: Brent crude hits 11-year low
#6"The Stone Age didn't end for lack of stone, and the oil age will end long before the world runs out of oil." - Sheikh Zaki Yamani
Re: Oil price: Brent crude hits 11-year low
#7Where are the peak oil prophets?
I believe the current oil price is more a function of a ongoing price war between OPEC states and declining oil consumption, and not the total amount of oil available on the planet.
Re: Oil price: Brent crude hits 11-year low
#8Where are the peak oil prophets?
Actually, this is partly the fruits of their work.
It seems like we're experiencing peak oil demand, rather than peak supply.
I'm not sure if the "peak oil prophets" considered this possibility - that their warnings will actually be heard, measures will be taken and we will avoid running out of oil.
Now that we're here, is peak demand less scary than peak supply ?
Re: Oil price: Brent crude hits 11-year low
#9"Many consumers have enjoyed the falling price of fuel in the form of lower petrol prices; several UK supermarkets have begun selling petrol at below £1 per litre - which they last did in 2009."
It feels as though prices haven't fallen relatively here in Canada, at least not on the west coast.
(112.9c CAD / litre in Victoria, BC)
Re: Oil price: Brent crude hits 11-year low
#10Quasi "outages" in California refinery crackers are bucking the price decreases of gasoline in California. In 30 states, gasoline is under $2/gal but in California, it is north of $2.50, and it isn't even the expensive summer blend.
California's fuel prices will always be higher than other states because their blend is stricter than most of the rest of the nation and far fewer refineries are built to produce that blend.