To heck with facts… and the scientific method.
Category Archives: energy
Supply, demand and the price of oil
A few weeks ago I offered some calculations suggesting that lower demand for oil might account for about $20/barrel of the dramatic decline in the price of oil since last summer. Here I point to some other evidence consistent with that conclusion.
Do falling oil prices raise the threat of deflation?
The spectacular drop in oil prices means that inflation is going to fall even further below the Fed’s 2% target. Does that raise any new risks for the economy? I say no, and here’s why.
Oil prices as an indicator of global economic conditions
West Texas Intermediate sold for $105 a barrel at the start of July, but ended last week at $58. The most important factor has been surging U.S. production. But another reason oil prices have slid so much is weakness in demand for the product, which may be related to a slowdown of overall world economic growth. Here I comment on the importance of that second factor.
A glut of oil?
The world is awash in oil, I’m hearing. The problem is, it’s fairly expensive oil.
Lower oil prices and the U.S. economy
For the last 4 years, the national average retail price of gasoline in the United States stayed within a range of $3.25-$4.00 a gallon. But that all changed this fall, with U.S. consumers now paying an average price of $2.82.
How will Saudi Arabia respond to lower oil prices?
Oil prices (along with prices of many other commodities) have fallen dramatically since last summer. Some observers are waiting to see if Saudi Arabia responds with significant cutbacks in production. I say, don’t hold your breath.
Lower oil prices
For the last 3 years, European Brent has mostly traded in a range of $100-$120 with West Texas intermediate selling at a $5 to $20 discount. But in September Brent started moving below $100 and now stands at $90 a barrel, and the spread over U.S. domestic crude has narrowed. Here I take a look at some of the factors behind these developments.
Forecasted North Sea Oil Production
How much can an independent Scotland rely upon? updated 9/16
I Killed Some Brain Cells Today: Episode 2
“Energy regulation efficiency” and economic growth.
Last time, we turned to the Phoenix Institute for some mind-numbing, soul-killing “research”. Today we look to the Pacific Research Institute for some dumbfounding “analysis”.