Posts Tagged ‘IEA’

The Price for Energy Independence

Posted by Jeff Rubin on November 19th, 2012 under SmallerWorldTags: , ,  • 22 Comments

Move over OPEC, North America is about to become a net exporter of oil. At least that’s the supposed good news from the International Energy Agency’s latest outlook. According to the IEA, the drilling boom for shale oil is putting US production on track to pass Saudi Arabia. North of the border, output from Alberta’s [...]

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Just why did the United States and the International Energy Agency decide to release 60 million barrels of oil next month from their strategic petroleum reserves? The IEA cites the loss of 1.5 million barrels of Libyan production but that’s been going on since February. So why has it taken until July for them to [...]

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With oil prices within spitting distance of triple-digit levels (Brent traded over $99 per barrel last week, while West Texas Intermediate was north of $90 per barrel), it may be time to reconsider just how long this recovery will run. The fact that we’re seeing oil at triple-digit prices in this cycle should come as [...]

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The strongest manufacturing numbers coming out of the Chinese economy in a seven-month period, coupled with plunging oil inventories in the world’s largest energy consuming economy, have sent oil prices to a 25-month high. With no let-up in China’s fuel demand, the world should be looking at triple-digit oil prices again within a quarter. That [...]

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The optimism typically found in the International Energy Agency’s annual World Energy Outlook report is strangely missing this year. Instead, the IEA is taking a far more sober perspective on the world’s oil-consuming future due to our ever-greater reliance on costly unconventional oil sources. Output from currently producing fields is projected to fall precipitously, looking [...]

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