{"id":325,"date":"2014-10-20T21:29:24","date_gmt":"2014-10-20T21:29:24","guid":{"rendered":"http:\/\/olduvai.ca\/?p=325"},"modified":"2014-10-20T21:29:24","modified_gmt":"2014-10-20T21:29:24","slug":"peak-oil-review-oct-20","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=325","title":{"rendered":"Peak oil review – Oct 20"},"content":{"rendered":"

Peak oil review – Oct 20<\/a>.<\/p>\n

1.\u00a0 Oil and the Global Economy<\/span><\/b><\/p>\n

Oil prices continued to fall through\u00a0Thursday<\/span>\u00a0when New York futures traded below $80 a barrel and London as low as $82.60. Prices then rebounded to close\u00a0Friday<\/span>\u00a0at $82.75 in NY and $86.15 in London. As has been the case for several weeks, the 25 percent price drop from the year\u2019s highs was based on the perception that there is a glut of oil on the world market; the Saudis and other Gulf Arab states refusal to cut back production immediately; and fear.\u00a0 There are mixed opinions as to whether we have seen the bottom of the price plunge. Better economic data appeared\u00a0on Friday<\/span>\u00a0and Goldman Sachs issued a report challenging the notion that the world markets are over supplied. They believe prices have overshot on the downside. Others, however, note that the pause in the price decline may only be profit-taking and that there is unlikely to be any change in OPEC policies until at least the end of November. Taking advantage of the relatively low prices, China seems to be stepping up its imports, likely to bolster its strategic reserves.<\/span><\/p>\n

…click on the link above to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Peak oil review – Oct 20. 1.\u00a0 Oil and the Global Economy Oil prices continued to fall through\u00a0Thursday\u00a0when New York futures traded below $80 a barrel and London as low as $82.60. Prices then rebounded to close\u00a0Friday\u00a0at $82.75 in NY and $86.15 in London. As has been the case for several weeks, the 25 percent […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[441,588,594,600,617,694,701,723],"class_list":["post-325","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-iran","tag-oil","tag-oil-prices","tag-opec","tag-peak-oil","tag-russia","tag-saudi-arabia","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=325"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/325\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}