Another look at a peak in liquids and net exports. (page 1 )
Moore’s Law and electric cars, does it apply? (page 2 )
Solar energy to extract more oil. (page 3 )
Why are companies still drilling for more natural gas? (page 3)
Railroads in China. (page 4 )
The Shweeb, no kidding. (page 4 )
There will be no Master Resource Report October 8th.
Peak Oil Interview: Misconceptions, Replacing Oil, and False Solutions
This video is well worth the 12 minutes it will take to watch. I know Robert and value his opinions and insights into the issues the world faces concerning energy.
Link to Robert’s web page and some further comments including some corrections to details in what he said. How about that a guy goes back over his comments, identifies and corrects his errors. Imagine if all commentators did that. I know I should not believe in Magic.
Oil crosses $80 per barrel
While the $80 per barrel number is not magic it is an important area of price to the U.S. economy. In the November 20, 2009 (page 3) issue of this report the significance of oil prices above $80 per barrel was examined and in particular what Steven Kopits with Douglas-Westwood had to say about that price point. His bottom-line, “…the U.S. economy cannot tolerate oil above U.S. $80.”
Clearly a few days or weeks at $80 or above per barrel is not the concern. On the other hand if oil stays above the $80 per barrel level for several months the impact could be significant given the current condition of the U.S. economy. Rising oil prices have the same impact on consumers and business as a tax increase. This will be especially significant if it results in diesel prices moving above $4/gallon as they did in 2007-08. That would put industrial and commercial consumers in a very difficult position again. And don’t forget jet fuel??
The consequences of oil prices staying above $80 could negate any benefit of extending the current tax rates or compound any tax increase that may emanate from Washington DC. In addition any increase in the oil tax on the U.S. economy will not be debated in Congress or changed by the November election no matter who wins.