I recently watched the movie spOILed, produced, directed and released last year by Mark Mathis. Mathis poses a question whose answer is suggested by his title: Do we take our energy for granted? This leads to a few more: Why is it that fossil fuel became the dominant form of energy in our world? How [...]
My last post (Running Dry?) called out the ubiguity of oil in our lives, and the growing gap between the production of it and the demand for it. Not only is oil an energy source; it is, as the post points out, a fundamental ingredient in virtually everything around us. So it is that Bakersfield looms [...]
Oil prices have been on the rise, and have been for some time. For those of us in the oilpatch, this is sweet music. A natural question is how long it will last, for all too fresh is the memory of June 2008, when we entered the month with world oil prices at $147/bbl, only to [...]
In the wake of the devastating gulf oil spill, I’m beginning to hear that not only will the development of new off-shore wells decline, but many existing off-shore wells will be voluntarily closed-in as well. This will put more limitations on supply and more upward pressure on pricing…all of which bodes well for the Bakersfield [...]
More expectation for oil rising to $85+ by year-end . . . I read a blog Tuesday on Seeking Alpha by Bob van der Valk * that ratifies the prediction I posted on Monday (“When Will Oil Be $85? What Will Happen Then?” http://bit.ly/1Qx0w3) about oil rising to $85+ per barrel. Mr. van der [...]
Oil prices hit their annual high last week ($80) and have been steadily rising since spring. Of course, we all remember the loud crash in July 2008 after oil prices peaked at $147/bbl. One significant observer of the oil market is Morgan Downey, who heads commodity trading in the Americas for Standard Chartered Bank in New [...]
