Peak Oil? Not!
In market Soapbox 06/15/05 we commented on the media hobgoblin called Peak Oil. This contrivance is nothing more than another "boogey man" which cannot be empirically proven.
Comments from a high ranking Saudi official seem to validate our position that the problem is a contrivance of the oil industry itself.
By restricting refining capacity and manipulating the market via supply chain crises "knee jerks" and "stoking the fires" through speculation in futures contracts by third party "fronts" on their behalf.
From MSNBC:
Saudi Arabia has plenty of oil - more than the world is likely to need - along with an increasing ability to refine crude oil into gasoline and other products before selling it overseas.
A top Saudi official says. “The world is more likely to run out of uses for oil than Saudi Arabia is going to run out of oil,” Adel al-Jubeir, top foreign policy adviser for Saudi Arabia’s de facto ruler Crown Prince Abdullah, said Wednesday.
“If we send more oil to the United States and you can’t refine it, it’s not going to become gasoline,” al-Jubeir said.
The United States has not built a refinery since the 1970s, and other markets have similarly outmoded or limited refining capacity.
$130 Oil Justified? No Way
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OIL: Demand, Production and Speculation
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Spreading "Peak Oil" Crack
"Peking" Oil, the Saudis and China
Peak Oil? Not!
Peak Oil? Not! Part Deux
Peak Oil? Not! - Update
Peak Oil Redux Part I
Peak Oil Redux - Part II
Peak Oil Redux Part III
Peak Oil Redux Part IV
Peak Oil Redux Part V
Peak Oil Redux Part VI
Peak Oil Redux Part VII
Peak Oil Redux Part VIII
The Blame for $135 a Barrel Oil
Blame it on Markman's Myopia or The Day They Burned Ol' Dixie Down - A "Peak Oil" Commentary
Another Peak Oil Cufuffle Series
Comments from a high ranking Saudi official seem to validate our position that the problem is a contrivance of the oil industry itself.
By restricting refining capacity and manipulating the market via supply chain crises "knee jerks" and "stoking the fires" through speculation in futures contracts by third party "fronts" on their behalf.
From MSNBC:
Saudi Arabia has plenty of oil - more than the world is likely to need - along with an increasing ability to refine crude oil into gasoline and other products before selling it overseas.
A top Saudi official says. “The world is more likely to run out of uses for oil than Saudi Arabia is going to run out of oil,” Adel al-Jubeir, top foreign policy adviser for Saudi Arabia’s de facto ruler Crown Prince Abdullah, said Wednesday.
“If we send more oil to the United States and you can’t refine it, it’s not going to become gasoline,” al-Jubeir said.
The United States has not built a refinery since the 1970s, and other markets have similarly outmoded or limited refining capacity.
$130 Oil Justified? No Way
Oil Price Redux
OIL: Demand, Production and Speculation
Peak Oil - The Myth, The Legend, The Fraud
Spreading "Peak Oil" Crack
"Peking" Oil, the Saudis and China
Peak Oil? Not!
Peak Oil? Not! Part Deux
Peak Oil? Not! - Update
Peak Oil Redux Part I
Peak Oil Redux - Part II
Peak Oil Redux Part III
Peak Oil Redux Part IV
Peak Oil Redux Part V
Peak Oil Redux Part VI
Peak Oil Redux Part VII
Peak Oil Redux Part VIII
The Blame for $135 a Barrel Oil
Blame it on Markman's Myopia or The Day They Burned Ol' Dixie Down - A "Peak Oil" Commentary
Another Peak Oil Cufuffle Series
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