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The Forum > Article Comments > IEA: high oil prices 'taking a toll' on demand > Comments

IEA: high oil prices 'taking a toll' on demand : Comments

By Nicholas Cunningham, published 22/5/2018

The inventory surplus has vanished, and more outages could push oil prices up even higher.

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Here we go again. OPEC turning down the valves to create an artificial shortage! And as always, when it comes to petrol prices? They hit the ground running with price increases at the very first whisper of a price rise in oil but are as slow as a wet week to bring them down again when the oil price goes down as it will again! Given these manipulations by OPEC can only do two things, advance the startup of the Suadi rivalling reserve in Edmonton, with its estimated 1.8 trillion barrels and further accelerate the manufacture and take up of electric cars. We here in Australia have developed a quite impressive network of recharging stations down the entire eastern seaboard and another electric highway down the southern coast of West Australia. Me? My next vehicle will surely be a now affordable all electric! And OPEC and continually manipulated oil prices and price gouging at the bowser can go take a running jump! TBC. Alan B.
Posted by Alan B., Tuesday, 22 May 2018 10:01:57 AM
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One unit of thorium contains as much energy as one million hydrocarbon units! All that has prevented it from taking over the energy production of the world is government restrictions and prohibition. As in the U.S.of A. where anything but tiny research project re allowed and all sorts of commercial pressures are applied elsewhere. Along with a veritable mountain of disingenuous misinformation and completely fallacious propaganda! Even in so-called democracies, Multinationals call the tune and ordinary folk are seen a little more than a commodity that can be exploited just a little more humanely than in the Nazi death camps, where they were stripped of everything, including human dignity. OPEC and corporate America a little better, but not very much! Little wonder some of them are being tipped over the edge and going on a killing rampage! And where will that end? A quite massive revolt and rebellion, that includes the national defence force perhaps? Given they're tired of being used as cannon fodder just to protect those who exploit them, their family and friends. So, bring on the robot armies and completely Autonomous killing machines! That will ultimately go rouge and turn on their creators, with a little help from a few dissident hackers. It's a brave new CO2 polluted world you and yours are creating out there Nick, where for the first time in human history, the next generation is being made far worse off than their parents! Courtesy of corporate America and the top heavy, tax avoiding, price gouging multinationals, with just more than a little help from OPEC and a band of parasitic unproductive oil barons and unproductive profit demanding middlemen! Alan B.
Posted by Alan B., Tuesday, 22 May 2018 10:26:40 AM
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Wow, an increase in price causes a fall in demand. Stop the presses!

The US is now the world's leader in fossil fuel production mainly due to the fracking revolution which our elites are steadfastly refusing to allow here.

So an increase in price is excellent news for the US frackers who will as per other similar increases, raise production and kill the price surge.

Meanwhile...

"Proven oil reserves in the United States were 36.4 billion barrels (5.79109 m3) of crude oil as of the end of 2014, excluding the Strategic Petroleum Reserve. The 2014 reserves represent the largest U.S. proven reserves since 1972 and a 90 percent increase in proved reserves since 2008. The Energy Information Administration estimates U.S. undiscovered, technically recoverable oil resources to be an additional 198 billion barrels."

Whatever happened to all those who knew that we'd reached peak oil. oh what am I saying......no one ever thought that or at least no one will ever admit to it now.
Posted by mhaze, Wednesday, 23 May 2018 3:52:31 PM
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