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Archive for the 'oil trading' Category

Twelve Dollars a Year

0 Comments Published by Mark Floegel November 1st, 2007 in Gas Prices, Iran, OPEC, Oil, Oil Price, Peak Oil, Saudi Arabia, US politics, energy policy, oil and gas production, oil demand, oil industry outlook, oil reserves, oil trading

In the late winter of 2006, the citizens of Burlington, Vermont prepared to elect one of five candidates to a three-year term for an open mayor’s seat. At one forum, a citizen stood up and asked, “Within the next mayoral term, it’s likely the price of oil will hit $90 a barrel and gas will […]

Pardon My Skepticism

0 Comments Published by Mark Floegel March 15th, 2007 in Gas, Oil, Peak Oil, oil and gas production, oil demand, oil futures, oil reserves, oil trading

On March 5, the New York Times published a front-page story called “Oil Innovations Pump New Life Into Old Wells.” Getting new oil from “played out” wells was the thrust of the piece; as the price of oil rises, it becomes worthwhile investing new money into old wells. The article also indirectly took on the […]

Iran Asks Oil Buyers to Pay in Euros

0 Comments Published by Andy Rowell December 22nd, 2006 in oil trading

The world’s fourth largest oil exporter, Iran, is seeking payment for oil sales in euros as it shifts currency reserves out of dollars. The State-owned National Iranian Oil Company (NIOC), acting under instructions from the Central Bank of Iran, has inserted a new clause in oil supply contracts that allows it to request payment in […]