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 … Read More
oil futures
IEA: Demand for Oil Increases
As if taking a cue from T-Rex Tillerson that demand for oil will keep rising, the International Energy Agency has raised its outlook for world oil demand for the first time over a year, citing upward revisions to the estimated appetite of the still-booming Chinese economy. The IEA raised its 2007 demand forecast by 273,000 … Read More
The Price of Fear in your Gas Tank
Ever wondered how much of the oil price is pure hype or fear? Well there is an interesting article in today’s New York Times, which quotes Michael Rose, the director of the energy trading desk at Angus Jackson in Fort Lauderdale, Florida who says that “Crude is coming down because it was way too high,” … Read More