« Maori Party Co-Leader on Peak Oil | Main | Cascading Onload Image Fades Without Flash »

May 05, 2005

The View from the Top

Strange as it may seem, the world economy has become accustomed to the idea of 50$ crude. Merrill Lynch on CNN money, had the following to say today:

"...we believe that spot WTI crude oil prices will remain over $50 per barrel, despite the bearish signal of the super contango," ...

"Going forward, we expect global oil demand growth to decelerate modestly in line with a slowing global economy, but higher long-dated prices and infrastructure bottlenecks will likely combine to support spot crude oil prices"

If you watch the market regularly, as I have started to in a somewhat ghoulish manner, it becomes difficult to put current prices in perspective. Most sites seem to carry short term charts (typically monthly and daily), which I suppose suit investors, but don't give you much of a sense of our current situation. I managed to find the following chart on Oilnergy (does anyone else find that domain name amusing?)


Historical Oil Prices

Are we approaching the eye of the storm?

Posted by kitsune at May 5, 2005 05:54 PM

Trackback Pings

TrackBack URL for this entry:
http://nocturne.net.nz/mt/mt-tb.cgi/23

Listed below are links to weblogs that reference The View from the Top:

» huge penis story forum from i love you baby i need you baby let me love you
ebony phone sex [Read More]

Tracked on January 24, 2007 12:39 AM

» ebony with green eyes from baby christmas
cyberskin dildo power lock [Read More]

Tracked on January 25, 2007 01:28 AM

» fuck crazy horse from gay fuck4
incest daughter sex [Read More]

Tracked on January 25, 2007 06:16 PM

» valium addicted babies from lesbian wish had penis
asia sex videos [Read More]

Tracked on January 28, 2007 07:54 PM

» high schools paddle girls from teen girls masterbate
rugby shower in having nude bare undress [Read More]

Tracked on January 29, 2007 05:42 AM

» nude fairy pictures from adult postcards free
adult swim permanent ip ban [Read More]

Tracked on January 29, 2007 03:07 PM

» free male sex porn from up the pussy
black incest family sex [Read More]

Tracked on January 29, 2007 06:27 PM

» nude amateur pictures from pictures of girls fucking
blowjob pay per view [Read More]

Tracked on January 30, 2007 02:05 AM

» cunniligus porn xxx from pics of man u
nude females girls women pubic hair [Read More]

Tracked on January 30, 2007 10:59 AM

» adult small group study from sanaa lathan bikini
fighter pilot stories [Read More]

Tracked on January 31, 2007 06:03 AM

» Teen Girls In Bikinis from Teen Girls In Bikinis
This Petite Brunette Poses On The Floor On 2 Smart Pages. is teen ink a [Read More]

Tracked on May 5, 2007 02:32 AM

» rape hentai from Mauglie Blog
Mauglie Excerpt [Read More]

Tracked on May 22, 2007 12:01 AM

» joke of the day from joke of the day
shit-happens 1504222 Relevant information about joke of the day. [Read More]

Tracked on June 15, 2007 04:49 AM

» parallel programming from parallel programming
shit-happens 1504222 Good information about parallel programming. [Read More]

Tracked on June 19, 2007 07:37 AM

» idaho state journal from idaho state journal
shit-happens 1504222 idaho state journal intro article [Read More]

Tracked on June 19, 2007 12:59 PM

» kenny werner from kenny werner
shit-happens 1504222 Modern view of kenny werner. [Read More]

Tracked on June 20, 2007 04:41 AM

» book comic shop from book comic shop
shit-happens 1504222 book comic shop info [Read More]

Tracked on June 20, 2007 03:04 PM

» economy state wyoming from economy state wyoming
shit-happens 1504222 Approved articles about economy state wyoming. [Read More]

Tracked on June 21, 2007 06:41 AM

» link missing from link missing
shit-happens 1504222 Features of link missing. [Read More]

Tracked on June 25, 2007 01:26 AM

» georgetown apartment from georgetown apartment
shit-happens 1504222 The best of georgetown apartment. [Read More]

Tracked on June 26, 2007 08:28 PM

» Iraq bombs slaughter 50 - from green day by the river
Iraq bombs slaughter 50Turkish Press, MI -2 hours agoThursday's attack was the most spectacular breach of the multiple layers of security in [Read More]

Tracked on December 4, 2007 04:14 PM

» Couple celebrate with "miracle" family from accessory cell motorola phone v710
And no sooner had they got the babies home to Ambleside Close, Harwood than Sam was busy decorating the house [Read More]

Tracked on January 15, 2008 06:44 AM

» porn pay per view from porn pay per view
In the fourth scene, a showered up hottie gets all naughty with his fellow teammate. The hot water left his cock hard so his friend is a good teammate and helps him out. His hot mouth swallows that thick cock and gives it a winning play then rims his a... [Read More]

Tracked on July 10, 2008 11:43 PM

Comments

Hi Bayard,

I've been reading your oil posts with great interest. I have a question brought on by your last post though: do you think the high oil price is a positive development or the opposite?

Sure, it may spell the beginning of another major oil crisis. But "oil crisis" has such a negative connotation.

I reckon the higher the price the better. Perhaps today's prices aren't anywhere near the true "price" of oil yet... Maybe the lower the price of oil is, the higher the price we end up paying in the long run.

In an earlier post (mentioning rocks and the demise of the stoneage) you mentioned that you don't see any viable alternatives to oil. Neither do I. But I don't believe that means that it doesn't exist. All it means is that the people that do know about a viable alternative (or maybe even just the one person in 6 billion) hasn't been bothered (motivated) to exploit his/her idea yet. And chances are, the price of oil plays a part in such motivation.

Even if it doesn't, at least a high oil price can be expected to have some positive effects on the environment, which (however small they might be) should be welcomed in this day and age.

Posted by: Jonas at May 16, 2005 12:53 PM

Thanks for the comment Jonas :)

In regards to alternatives to oil, I certainly think you are right in that market pressures could allow for the rapid development of new technologies. My concern is that petroleum is so thoroughly integrated in to our infrastructure that we will run out of time to implement the sweeping changes that will be needed to make the transistion to that technology.

I also agree that oil depletion could have some positive repercussions, although it would depend largely on your point of view. Personally, I like the idea of living in a more locally focused community, and consuming local products. My wife bought some wool the other day, and I noticed that although it was New Zealand wool, it was being sold by a UK company that had exported the product back to New Zealand. What a preposterous waste of energy!

Posted by: Bayard at May 17, 2005 04:32 PM

Post a comment

Thanks for signing in, . Now you can comment. (sign out)

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)


Remember me?