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It’s Not Black Or White
2009:H2: [We have] a cyclical bull market as the economy stabilizes and OPEC maintains cuts to draw inventories to 10-year average levels. We are raising our end of 2009 WTI [West Texas Intermediate crude oil] price forecast to $85/bbl from $65/bbl. —Goldman Sachs, June 3, 2009 I admit the human element seems to have failed us here. —General “Buck”
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Interview with Charles T. Maxwell (Part 2 of 2)
We caught up with Charley Maxwell, the life-long oil industry analyst viewed by Barrons’ magazine as their energy guru, and asked him for a few minutes of his time. He shared that and much more with Steve Andrews. ASPO: So here’s the deal-we’ll make you the Energy Czar tomorrow.
A Shale Gas Boom?
But I think you also have to be impressed by the credulity of the people who invested and the desperation and almost the laziness—the lack of due diligence of the people who pumped their money in. I mean, when it comes right down to it, people really don’t know much about this world, and they’re
Commentary: Interview with Charlie Maxwell (Part 1 of 2)
We caught up with Charlie Maxwell, the life-long oil industry analyst viewed by Barrons’ magazine as their energy guru, and asked him for a few minutes of his time. He shared that and much more with Steve Andrews. ASPO: Over the last 12 months, what has surprised you the most about the oil roller
Bad Signs, New Bubbles
Starting with the tulip bulb mania in the 1630s, bubble after speculative bubble has been erased from the popular memory: the South Sea bubble in the early 1700s; the Mississippi bubble, which caused a stock market crash in 18th-century France; the Florida real-estate bubble in the 1920s; the stock market
Peak Oil = Peak Demand?
I think it would be a good idea — Mahatma Gandhi, when asked what he thought of Western Civilization Captain Renault: I’m shocked, shocked to find that gambling is going on in here! Croupier: [hands Renault a pile of money] Your winnings, sir. Captain Renault: [sotto voce] Oh, thank you very
CERA Official Acknowledges “Peak Oil is Here”
Speaking at the Center for Strategic & International Studies (CSIS) in Washington DC on 8 June, CERA Global Oil Group Managing Director Jim Burkhard began and ended his talk by stating that “CERA acknowledges that peak oil is here, you heard it from a CERA person.” Mr. Burkhard spoke at a CSIS
Items from the Mailbag:
View from Iraq; and the Population Issue We hear from readers periodically. Here are two recent items of note, on important issues. #1: Peak Oil from the Front Lines Here in Iraq, I’ve had interesting conversations over the past few days with some of my soldiers. Those exchanges illuminate
The Decline of the American Empire
[T]he decline of Rome was the natural and inevitable effect of immoderate greatness. Prosperity ripened the principle of decay; the causes of destruction multiplied with the extent of conquest; and, as soon as time or accident had removed the artificial supports, the stupendous fabric yielded to the
Commentary A Long Recovery for Natural Gas Price
A Long Recovery for Natural Gas Price Revisiting the Haynesville Shale By Arthur Berman (column appears in this month’s World Oil magazine; used with author’s permission; he will be speaking at this fall’s ASPO-USA Conference, on October 12) Natural gas prices increased 39 percent from
