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Peak Oil News: Consumption; Demand; Prices

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Sports world begins to sputter under weight of fuel prices
Consumption; Demand; PricesGuest writes:

Eight high schools south of Detroit announced this week they are forming a new league of schools within a 15-mile radius. The cost of gas is one major reason.

"It makes the most sense, especially in these economic times," Allen Park athletics director Ken Stephens says. "Where can you save money? You can cut down on transportation."

Posted by Leanan on Friday, May 09 @ 20:13:19 EDT (94 reads)
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The Case For $80 A Barrel Oil
Consumption; Demand; PricesOil prices may hang above $100 a barrel for the rest of this year but will fall as low as $80 next year as world demand slackens and Saudi Arabia tries to buy influence with the incoming president by pumping more crude oil, an influential Lehman Brothers analyst said in a report issued today.

Saudi engineers have been working on several big projects that could boost the nation's output by 1.3 million barrels a day--more than the expected increase in global demand next year--but the secretive nation is "likely to keep its political tool, excess production capacity, close to its chest until it has a new U.S. president to win over," Morse writes.

Posted by Leanan on Friday, May 09 @ 17:18:31 EDT (275 reads)
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Some commuters rethink where they call home
Consumption; Demand; PricesGuest writes:

Camisha and Kenneth Champ of Culpeper, Va., were spending more than $100 a week to drive their Toyota Corolla 90 minutes each way to their jobs in Fairfax, Va.

"We were just working to pay for gas," says Camisha Champ, a hospital scheduler. They keep their Lincoln Navigator in the garage because it costs too much to drive.

Posted by Leanan on Friday, May 09 @ 13:45:48 EDT (293 reads)
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ANALYSIS - World begins to smart from oil's too rapid rise
Consumption; Demand; Prices LONDON (Reuters) - From the poorest of Africa to the United States and big business, a breakneck rally that could take oil to $200 a barrel is likely to inflict pain on everyone.

The world was remarkably resilient to a series of record prices in 2007, but a roughly 30 percent rise since the end of last year, with predictions of more to come, is harder to absorb.

Posted by Leanan on Friday, May 09 @ 13:23:49 EDT (294 reads)
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Canada: Food fears
Consumption; Demand; PricesGuest writes:

As oil and climate change drives up food prices around the world, Vancouverites will not be immune from the escalating squeeze on pocketbooks

At Dollar Foods on Commercial Drive, manager Quoc On is busy in the back supervising the arrival of a food shipment. The aisles are jammed with hungry customers, the lineup at the cashier is deep, and outside the front door boxes of fresh fruit and vegetables are piled high on the sidewalk, the fresh produce sparkling in the warm springtime sun. The scene is one of affluence and abundance, yet behind this facade a crisis is brewing that may signal the end of the Age of Endless Abundance. At the very least, the days of cheap food imported from all around the world at very low prices may be about to end.

Posted by Leanan on Friday, May 09 @ 12:43:10 EDT (221 reads)
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Gas jumps above $3.67, oil passes $126 on Venezuela concerns
Consumption; Demand; Prices NEW YORK - Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher.

On Friday, The Wall Street Journal published a report that suggested closer ties between Venezuelan President Hugo Chavez and rebels attempting to overthrow Colombia's government. Chavez has been linked to Colombian rebels previously, but the paper reported it had reviewed computer files indicating concrete offers by Venezuela's leader to arm guerillas. That appears to heighten the chances that the U.S. could impose sanctions on one of its biggest oil suppliers.

Posted by Leanan on Friday, May 09 @ 12:20:58 EDT (164 reads)
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Gas prices hit 2nd straight daily record
Consumption; Demand; PricesGuest writes:

Pump prices jump to another all-time high as crude keeps up record run; farmers among those feeling hardest hit.

...The high price of gas has burdened motorists and truckers.

It's also put the squeeze on thousands of farmers.

They drive tractors up and down row after row of field after field to plow, seed and tend to their crops. That means they shell out big bucks for gas and diesel, which set its own record Friday at $4.269 a gallon - and there's no end in sight.

Posted by Leanan on Friday, May 09 @ 11:08:49 EDT (148 reads)
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Gas prices rattle Americans
Consumption; Demand; PricesGuest writes:

Record high gas prices are prompting Americans to drive less for the first time in nearly three decades, squeezing family budgets and causing major shifts in driving habits, federal data and a USA TODAY/Gallup Poll show.

As prices near — or in some places top — $4 a gallon, most Americans say they are cutting back on other household spending, seriously considering buying more fuel-efficient cars and consolidating their daily errands to save fuel.

Posted by Leanan on Friday, May 09 @ 10:55:51 EDT (221 reads)
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Metal Thefts in Yorkshire UK
Consumption; Demand; Pricesserenity writes:

POLICE officers in West Yorkshire are on their “metal” against thieves who are blighting the region.

Now they are urging members of the public to help stem the current trends of metal thefts.

Posted by Leanan on Friday, May 09 @ 10:41:25 EDT (126 reads)
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Oil execs see $100-or-less cost by year’s end
Consumption; Demand; PricesGuest writes:

55 percent predict drop; 44 percent to raise spending on exploration

HOUSTON - Even as oil prices ascended to new highs of more than $124 a barrel this week, many oil and gas industry executives say they expect the price to fall significantly by year’s end, a new survey shows.

Fifty-five percent of 372 petroleum industry executives surveyed by KPMG LLP said they think the price of a barrel of crude will drop below $100 by the end of the year. Twenty-one percent of respondents predicted a barrel of oil will end the year between $101 and $110, while 15 percent forecast the year-end price to be between $111 and $120 a barrel.

Posted by Leanan on Friday, May 09 @ 09:30:49 EDT (175 reads)
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UK: Thefts of heating oil rise
Consumption; Demand; PricesGuest writes:

THE soaring price of fuel has prompted a surge in thefts of domestic heating oil from tanks outside homes and farms across the region.

North Yorkshire Police say there have already been 27 such thefts across the county so far this year, compared with only six in the same period last year.

Posted by Leanan on Friday, May 09 @ 09:27:09 EDT (105 reads)
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India: Coal situation worsens at thermal stations
Consumption; Demand; PricesNearly a third of the country’s thermal stations are now reported to be facing “critical stocks”, where coal stocks are expected to last less than seven days.

Of the 77 thermal stations in the country, 25 have now been bracketed as having “critical stocks”, of which 13 are reported to be “super critical”, with precariously low levels of coal stocks of under four days, according to the Government’s latest data on coal stock positions at power stations (up to May 5).

Posted by waegari on Friday, May 09 @ 05:38:56 EDT (208 reads)
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Return of the population timebomb
Consumption; Demand; PricesOnly since 1800, in the last 0.01 per cent of the history of Homo sapiens, has the human population shot into the billions. Now at nearly 6.7 billion, with 9 billion looming 40 years away, few environmentalists seem to care.

Yet the population-environment link is clear. Our environmental impact, as gauged by total resource consumption for a country or the world, is the product of population size and the average person's consumption.

Posted by waegari on Friday, May 09 @ 05:23:30 EDT (289 reads)
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Oil hits yet another fresh high
Consumption; Demand; PricesGuest writes: Crude oil has hit yet another all-time high in early Friday trading.

Driven by surging demand and continuing supply concerns, US light crude touched $124.70 a barrel in Asian exchanges, up $1.01 from Thursday's close. Meanwhile, London's Brent crude was up 85 cents to $123.69 from Thursday's record $122.84 close.

Posted by waegari on Friday, May 09 @ 05:00:37 EDT (85 reads)
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Spanish gas use seen rising 10.1 pct in 2008
Consumption; Demand; PricesGuest writes:

MADRID, May 8 (Reuters) - Spanish gas consumption could rise 10.1 percent this year to meet increasing demand from electricity generators to offset the impact of a drought and variations in wind power, distributor Enagas said on Thursday.

Chairman Antonio Llarden told a gas industry convention that Enagas expected consumption to rise to 449,580 gigawatt-hours in 2008, on top of a 4.3 percent rise in 2007. "Our projections have risen for one simple reason: there's no water," Llarden said.

Posted by Leanan on Thursday, May 08 @ 21:30:10 EDT (118 reads)
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Old Articles
Thursday, May 08
· Gas jumps nearly 3 cents to record; oil crosses $124
· Truckers slow it down to save on diesel
· Peak Exports and Our Economic Future
· Iran predicts oil prices will rise to $200 a barrel
· Total Expects Saudi Refinery OK Soon
· China Sinopec's new plant to receive 1st Saudi oil
· Why $120 oil is good
· Junkie Nation
· High oil prices seen spurring alternative fuel shift
· Hedging Against $200 Oil
· Gas prices have some thinking they can drive 55
· UK: The average family throws out £610 of food a year
Wednesday, May 07
· UK: 40% On Gas and Electric Bills
· Food prices soaring at fastest rate for 18 months, High Street stores admit
· Oil surges to new highs, dealers focus on diesel
· Rising cost of food is wreaking havoc on Central America
· Michael J. Economides - Oil at $120: Here's Why
· India: Oil Crisis No. 4
· Drive out of poverty with a car
· Gas Prices Expected to Peak in June

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