A new study by the Shell Oil Company called “Signals and Signposts” has been released confirming, or at the very least strongly suggesting, that we have already past Peak Oil and are currently in the decline phase. The decline phase is characterised by oil prices steadily climbing at oil production either stagnates or goes down. Lanjut →
Sadad al-Husseini, a geologist and the head of exploration for the Saudi oil giant Aramco apparently met with the US Consul General in 2007 and told him that he believes that Saudi oil reserves have been over estimated by 300 billion barrels or about 40%. Lanjut →
Investors are making increased bets on $250 barrels of oil following continued disruption in the Middle East. Oil Futures are already up 18 percent from a year ago. After the revolution in the North African country of Tunisia spread into Jordan, Syria, Yemen and Egypt many analysts are predicting increased disruption to the flow of oil, resulting in a sharp upward trend in oil prices. Lanjut →
