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Page added on December 29, 2008

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Peak oil review – Dec 29

1. Prices and production

2. Russia

3. Electric Cars

4. Briefs

1. Prices and production

It was another down week for oil prices. Starting out in the low $40s, oil fell as low as $35 a barrel before jumping to a close at $37.71 after the UAE announced the details of the production cuts it was making to comply with the recent OPEC decision. […]

2. Russia

Of all the countries exporting oil, Russia seems to be suffering the most serious consequences from the precipitous drop in oil prices. The Russian stock market has collapsed and the ruble, devalued eight times in recent months, has lost 20 percent of its value vs. the US dollar since August. Although Moscow managed to accumulate a substantial reserve during the good years, this is being rapidly dissipated bailing out troubled industries and $100 billion in foreign obligations are coming due next year. Worldwide demand for Russia



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