Trapped! Non-OPEC Oil Production Ceiling

Written by Gary North on March 2, 2012

If the economy recovers, oil demand will soar. The price will rise. It is already over $100 a barrel. The USA is dependent on non-OPEC suppliers. So is almost half the world. To see whether the free market will respond, ask yourself: Has output increased since the decline in price to under $40 in 2008? […]

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Peak Oil: Good News and Bad News

Written by Gary North on December 22, 2011

Is peak oil real? Yes. Is it an imminent threat? No. Take a look at this graph. It reveals that peak oil usage per person peaked in 1973. Then it dropped. It has been flat for decades. What are some of the implications: These. The global population data are from the US census bureau, and […]

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Why Oil Prices Are Headed Far Higher

Written by Gary North on November 16, 2011

The idea that the USA can ever become oil independent is a myth. The US has lots of coal and natural gas. It does not have much oil. The recession hit US oil consumption like a sledgehammer after 2007. Meanwhile, there has been a slight uptick of oil production in the US. But there is […]

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Peak Oil? Yes. End of the World? No.

Written by Gary North on November 14, 2011

Is peak oil real? Of course. It is running out: a billion barrels every two weeks. It is not being made. The price will go higher. But this does not mean the end of the world. At some price — much higher — there will be alternatives. One of them is natural gas. Its use […]

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