100 dollars a barrel
A year ago crude cost $60 per barrel
production output was comparable
US reserves were higher than they were in 2002-2003-2004
international unrest – not as ‘speculative’
the weather was cooler than in past – but not severe as evidenced by New York City – average monthly temperatures
December 2006: 42.4F; January 2007: 36.5F; December 2007: 37.3F; Jan1-4, 2008: 26.5F
today we pay $100 per barrel – and are being told that it will only go higher in the spring/summer.
Call me stupid – but the numbers don’t seem to add up. I don’t understand why these conditions merit a $40/barrel premium.
This is an opportunity for Gas Retailers to step to the plate and develop proactive energy manangement programs with their customers as outlined in an earlier post.
The Economist – Oil keeps getting more expensive—but not because it is running out – January 3, 2008
Peak oil is the point in time at which the maximum global petroleum production rate is reached, after which the rate of production enters its terminal decline. If global consumption is not mitigated before the peak, the availability of conventional oil will drop and prices will rise, perhaps dramatically.