{"id":3395,"date":"2014-12-22T07:53:47","date_gmt":"2014-12-22T12:53:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3395"},"modified":"2014-12-22T07:53:47","modified_gmt":"2014-12-22T12:53:47","slug":"peak-oil-review-dec-22","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3395","title":{"rendered":"Peak Oil Review – Dec 22"},"content":{"rendered":"

Peak Oil Review – Dec 22<\/a>.<\/p>\n

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

Oil prices were volatile last week with New York futures trading around $55 a barrel and around $60 in London with little change at week\u2019s end. In the absence of any solid news on supply or demand, traders jumped in and out of the markets in a attempt to find a price bottom.\u00a0 On Thursday, London\u2019s Brent closed below $60, the lowest close since May 2009, before rebounding, largely on optimism and technical issues, to close out the week at $61.38.<\/p>\n

The issue of just where the bottom of the price decline will be found is the subject of much commentary. Most observers are saying that the markets will likely go lower next year as more supply is slated to come on line, and the markets are expected to remain weak. The UAE\u2019s oil minister and President Putin both mentioned $40 a barrel in public recently.\u00a0 A more sophisticated analysis was published by Reuters pointing out the reasons we could see a new trading range, with a bottom at $20 a barrel and a top at $55. Under this scenario, US shale oil producers, who can be very fast on their feet due to the large number of wells they must drill every year to maintain production levels, would become the new swing producers.<\/span><\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Peak Oil Review – Dec 22. 1.\u00a0 Oil and the Global Economy Oil prices were volatile last week with New York futures trading around $55 a barrel and around $60 in London with little change at week\u2019s end. In the absence of any solid news on supply or demand, traders jumped in and out of […]<\/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":[2,3],"tags":[2079,366,588,617,800],"class_list":["post-3395","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-aspo","tag-global-economy","tag-oil","tag-peak-oil","tag-tom-whipple"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3395","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=3395"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3395\/revisions"}],"predecessor-version":[{"id":3396,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3395\/revisions\/3396"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}