Tag Archives: Energy Information Administration

Always on a Friday

I should have known and checked on Saturday. The Bush administration, top to bottom, releases bad news on Friday. This rule even applies to fairly obscure agencies like the Energy Information Administration, which updated its world oil supply and demand numbers Friday. The news is bad once again. (To see the numbers, click here scroll [...]

2007 By the Numbers

Not all the numbers, but some significant ones. As we ring out the year, the price of gas averages $2.98 per gallon in the US, up 64 cents from a year ago. The price of oil is $96.93 per barrel, up from $55.95 at the end of 2006. Gold is selling for $840 an ounce, [...]

Victims of Oil

The shop around the corner raised the price of sandwiches by a quarter this week. Although the housing meltdown is raising concerns that it may take the whole American economy down with it, prices are going up and the reason is the cost of oil. Oil, and therefore gas, prices remain at near-record levels. A [...]

The Oil Deficit

Late last week, the federal government’s Energy Information Administration posted the final global oil consumption figures for 2006. Although we pumped more oil than ever in 2006, on an average day, we consumed over 400,000 more barrels of oil than we produced. This is not the first time demand has exceeded supply; in 2002 we [...]

Pardon My Skepticism

On March 5, the New York Times published a front-page story called “Oil Innovations Pump New Life Into Old Wells.” Getting new oil from “played out” wells was the thrust of the piece; as the price of oil rises, it becomes worthwhile investing new money into old wells. The article also indirectly took on the [...]

Whither Peak Oil?

If you’re a long time reader of these commentaries, you may have noticed the recurrence of a limited repertoire of subjects – the Iraq war, global warming, the evisceration of civil liberties in the U.S. and peak oil. As detrimental as I believe the administration of George W. Bush has been to life on Earth, [...]