Gas prices are rising, at this rate, the average price of gasoline in the USA will rise from $4 per gallon to $10 per gallon in less than seven years.
Oil prices are also rising, and if they continue going up at this rate, will be $1,000 per barrel within 10 years.
What is causing gasoline, diesel, propane, fuel oil, petroleum and oil prices to rise so quickly?
The answer is that demand is increasing all over the world, everywhere, but at the same time, world oil supply is NOT increasing. In fact, world oil supply was “stuck” at under 85 million barrels per day for over three years.
We may be at peak oil. The economic impacts we have seen may just be the beginning.
Using his renown “Peak Oil in Five Slides”, Aaron Wissner explains what is going on, and how rising prices are related to stagnant oil supply.
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This video comes from “The International Conference on Peak Oil and Climate Change: Paths to Sustainability”.
http://sustainabilityconference.org
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Duration : 0:2:48
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As the nation’s struggling economy surpasses the war in Iraq as the biggest concern for most Americans, it is time for Congress to make a serious decision on the issue of domestic drilling in ANWR and offshore oil reserves. The widespread call to end the 1981 moratorium on offshore drilling coupled with a decision to drill in the ANWR region could significantly reduce our dependency on foreign oil. Here is why this is one of the most pressing issues of our time, and what can be done now to solve it…
Duration : 0:7:47
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At a meeting of the OPEC export countries in Isfahan (Iran) on Tuesday, President Mahmoud Ahmadinejad declared that the record high price for oil is fake and deliberate, and that the oil market supplies are plentiful, and he blamed the weakening of the US dollar for the skyrocketing prices.The US and other consumers want producers to boost their output but Iran, which is the fourth largest exporter in the world, has said it sees no need to do so. Ahmadinejad suggested that a bank of OPEC members be created to act as a counterweight to US influence in the world.
The high price of oil sure looks real if you’re paying for it in dollars. But even if you’re paying for it in Euros or Shekels it still looks real. I wouldn’t characterize it as ‘fake’ and I certainly wouldn’t blame all or even most of the increase on the weak dollar.
The price of oil has gone up because of increased demand from industrializing countries like India and China. There are two ways to bring prices back down, each of which essentially comes down to increasing supply. Those ways are directly increasing supply, either through increased sales by OPEC members or by other countries that are new to the market, and indirectly increasing supply by pursuing alternative fuels and energy sources.
In the short run, the only thing that is likely to help is increased supply from OPEC. That’s why President Bush pushed the Saudis on the issue during his visit there last month. But in the long run, the other two methods must be pursued. We’ve known that the world oil supply is vulnerable for nearly 35 years now, and very little has been done in terms of either exploring for new sources of oil or developing alternative sources of energy. This morning, US President George Bush is set to take a step in the right direction on oil exploration, urging Congress to drop a long-standing ban on offshore oil and gas exploration. But more must be done.
We must continue to pursue alternative energy sources even at times when oil prices are stable. As was the case with recycling – which did not seem to be economically viable thirty years ago, but which is now regarded as an absolute necessity in much of the world (unfortunately not in much of Israel) regardless of its costs – so too we must pursue alternative sources of energy even if they don’t seem to be profitable at first. If necessary, the pursuit of alternative energy sources should be pursued by the incentive of tax breaks for significant investments. The alternative is leaving the civilized world dependent on the likes of Mahmoud Ahamdinejad and Muamar Gadaffi. And that’s not something we ought to want to leave to our children.
Duration : 0:1:32
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OPEC ministers are meeting in Cairo to discuss the recent fall in oil price as Saudi Arabia identifies a price target per barrel of oil for the first time in years.
The Organization of Petroleum Exporting Countries (OPEC), which accounts for 40% of global oil production, cut output by 1.5 million barrels a day last month, but the move failed to stop prices from declining.
http://sharewave.org
Duration : 0:1:57
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Senators Clinton and Obama, did you both sleep through Economics 101? The only way to reduce gas prices is to reduce demand? No, no, no! The best way to drive the price of gas down is to increase SUPPLY! Neither of your answers addressed our need to reduce our dependence on foreign oil.
Why is it that the last oil refinery in the United States was built in 1976? And why don’t we find newer and better oil and gas resources here in our own country?
The United States consumes 20 million barrels of oil a day. The demand for oil will not be going down anytime soon. The Arctic National Wildlife Refuge (ANWR) is known to contain huge oil and gas deposits, but because of environmental lock-up restrictions on oil production on America’s offshore Outer Continental Shelf (OCS), we have to import 65% of our oil from foreign sources.
More than 75% of Alaskans favor exploration and production in ANWR, so why not more support from the pinheads in Washington, D.C.?
Only 8% (1.5 million acres) of the northern coast of ANWR is being considered for research & development, and the remaining 92% (17.5 million acres) of ANWR will remain permanently closed to any kind of development. If oil is discovered, then less than 2000 acres of the over 1.5 million acres of the Coastal Plain would be affected. That’s less than half of one percent of ANWR that would be affected by production activity. How much is 2000 acres? To put this in perspective, nearly 370,000 total acres were burned in San Diego wildfires last fall, and back in 2003, over 700,000 acres were burned in California alone.
Conservative estimates indicate that ANWR’s 10-02 Area contains the equivalent of over 30 years worth of Saudi oil.
If the Washington beaurocrats are serious about ending our dependence on foreign oil, then they need to allow R&D to begin in ANWR. It’s time to use the resources in our own country. Why buy something from other countries that we possess ourselves?
Reducing demand is not the answer.
Growing more corn for ethanol is not the answer.
Hybrid cars are not the answer.
The ANsWeR is ANWR.
Duration : 0:3:38
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In this video I am comparing Gold Oil and Lumber against each other, thereby eliminating the USD for the “Value Assignment” of these Commodities. We still have to buy and sell these in USD, but it is important to have a forecast of how they might move relative to each other. By charting some “Expectations”, one has a map to navigate through the “trading and investing” landscape.
I beginning with a “Big Picture” view loosely illustrating how these commodities are inter-connected. Finally, we should understand these interconnections to “Blue Resource Marble in Space”.
It’s resilent, but fragile for human habitation….as we grow to 7, 8 and even 12 BILLION people yearning to reach higher levels of wealth, we could easily find ourselves “outstripping resources” that are either FINITE in Total Quantity or limited from a daily production rate perspective.
Duration : 0:9:26
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Gas prices are rising, demand for oil is rising, and yet oil production stopped rising over three years ago. Peak oil may be here, and it’s taking us unprepared.
How long can this oil production level be maintained? When will the decline in oil supply begin? How will that impact already rising gasoline prices, oil prices, food prices and the struggling state of the world economy?
The International Conference on Peak Oil and Climate Change: Paths to Sustainability explores the root cause of rising gas prices, global warming, biodiversity loss and other indicators of global unsustainability.
With high powered, international speakers and authors including Richard Heinberg, Dr. David Goodstein, Megan Quinn Bachman, Julian Darley, Stephanie Mills and Pat Murphy, the uncertainties of energy and climate will be illuminated in this first-of-its-kind international conference.
The event begins with an in-depth scientifically-rigorous overview of the global issues of peak oil, climate change, environmental degradation, biodiversity loss, and population growth and how these are impacting individuals, businesses, nations, the environment and the world.
Participants then focus on the concepts of sustainability and the associated value systems and cultural visions. A spectrum of breakout seminar presentations led by professionals and experts help individuals, businesses, governments and communities move towards a vision of local cultures of sustainability.
Join with a broad array of professionals, politicians, business leaders, and concerned citizens for this unique high-level international conference that explores the causes of global problems and proposes solutions to move humanity toward lasting paths of sustainability.
Duration : 0:0:25
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Senators Clinton and Obama, did you both sleep through Economics 101? The only way to reduce gas prices is to reduce demand? No, no, no! The best way to drive the price of gas down is to increase SUPPLY! Neither of your answers addressed our need to reduce our dependence on foreign oil.
Why is it that the last oil refinery in the United States was built in 1976? And why don’t we find newer and better oil and gas resources here in our own country?
The United States consumes 20 million barrels of oil a day. The demand for oil will not be going down anytime soon. The Arctic National Wildlife Refuge (ANWR) is known to contain huge oil and gas deposits, but because of environmental lock-up restrictions on oil production on America’s offshore Outer Continental Shelf (OCS), we have to import 65% of our oil from foreign sources.
More than 75% of Alaskans favor exploration and production in ANWR, so why not more support from the pinheads in Washington, D.C.?
Only 8% (1.5 million acres) of the northern coast of ANWR is being considered for research & development, and the remaining 92% (17.5 million acres) of ANWR will remain permanently closed to any kind of development. If oil is discovered, then less than 2000 acres of the over 1.5 million acres of the Coastal Plain would be affected. That’s less than half of one percent of ANWR that would be affected by production activity. How much is 2000 acres? To put this in perspective, nearly 370,000 total acres were burned in San Diego wildfires last fall, and back in 2003, over 700,000 acres were burned in California alone.
Conservative estimates indicate that ANWR’s 10-02 Area contains the equivalent of over 30 years worth of Saudi oil.
If the Washington beaurocrats are serious about ending our dependence on foreign oil, then they need to allow R&D to begin in ANWR. It’s time to use the resources in our own country. Why buy something from other countries that we possess ourselves?
Reducing demand is not the answer.
Growing more corn for ethanol is not the answer.
Hybrid cars are not the answer.
The ANsWeR is ANWR.
Duration : 0:3:45
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One commenter suggested that world crude oil production was NOT an indicator for peak oil. The suggestion was that oil producers were holding back production to drive up price and that price was the driver behind production. But a graph of oil price v production does not offer us a correlation.
Another commenter suggested that Saudi Arabia had recently announced their intention to increase production even though price was low. Saudi Arabia has repeatedly indicated that it would increase production IF there was sufficient demand. In 2008 with prices at all-time highs, they did not increase production significantly and with oil prices again nearing $80 they are at a 5-year low in production.
The Saudis indicate that they will increase production to 14.5 Mbpd, but their peak production was 11.1 Mbpd in 2005. Every indication is that the only way to increase production is to sell sour oil.
OPEC has announced that they will increase production IF price goes over $100. I’m imagining that $100 will come and go without any significant increase in production.
Duration : 0:2:32
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