oil

What’s causing the crash in oil prices? What happens next?

Summary: Again, as so many times since 2000, oil prices dominate the news and shake the financial system. As usual, the news mixes fact and conjecture, wisdom and nonsense. Here’s an introduction to the basic facts, and a strong forecast about the future of oil prices. . Contents The big picture. How big are these …

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What does the data tell us about the US economy in 2015?

Summary: Let’s again look at the data about the US economy (we cannot directly see it, of course), both the recent past (dimly seen) and the immediate future (looming ahead in the darkness). Slower growth than usual since WWII, with higher risks and more unknowns. Just as I’ve reported for the past four years. (2nd …

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Requiem for fear. Let’s learn from failed predictions to have confidence in ourselves & our future

Summary: If journalists find it difficult to fill the spaces between ads, they might run articles debunking past popular predictions of doom. They could easily do so monthly. This week brought an unusually large harvest of evidence disproving the doomsters. We should ask ourselves why were we so credulous, even gullible, to believe these stories? …

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The nation responsible for the record high oil prices we pay is …

Summary:  Why are oil prices so high? After inflation they’re above 1980 record highs. Peak oil enthusiasts have explanations (usually wrong, like their forecasts). There are many factors at work, including one simple but hidden reason: American foreign policy. The USA has played a large role in the suppression of oil production in three major …

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Peak Oil as seen through the eyes of Arab oil producers

Summary: One of the world’s great energy experts reports on the view from a energy conference in Qatar. Oil is the fountain of their prosperity, and they well understand how brief the Age of Oil will be. . Reflections by Robert Hirsch on the Conference “Peak Oil: Challenges and Opportunities for the GCC Countries”. Held …

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