Wednesday, June 10, 2009

 

Peak Oil Now Official?

An organization which may be considered one of the last major holdouts on peak oil, CERA, seems to have finally come around, as peak oil has been publicly acknowledged by one of its officials. So, there you have it.

In related news, the relentless rise in crude prices is again pressuring the airlines, which are still in fragile condition from the shock of last year’s $147 spike. Although this article is quick to point the finger at “speculators,” it does admit that producers need at least $75/bbl to make money, which in itself is an indication that cheap crude is a thing of the past. It’s hard to say how long the airlines can be buffeted by crude price turbulence before crashing, so if you’re planning to fly somewhere, better do it in the near future just to be sure.



<< Home

This page is powered by Blogger. Isn't yours?