Seven Questions: The New World Energy Order, Foreign Policy Online, June 2008
How Iran Has Bush Over a Barrel, By Robert Baer. Time Online, Jun. 11, 2008.Why are oil prices soaring so high, and will they ever return to Earth? Fatih Birol, chief economist at the International Energy Agency in Paris, explains why peak oil is real, why biofuels are indispensable, and how China determines what you pay at the pump.
Plan Would Lift Saudi Oil Output, By JAD MOUAWAD. The New York Times, June 14, 2008.In the worst case scenario, seventeen million barrels of oil would come off world markets.
The Mouawad article is very interesting news. See also Peter Maass' famous NYT magazine article The Breaking Point: Saudi Arabia, soaring demand and the theory of peak oil.The increase could bring Saudi output to a production level of 10 million barrels a day, which, if sustained, would be the kingdom’s highest ever. The move was seen as a sign that the Saudis are becoming increasingly nervous about both the political and economic effect of high oil prices.....
Saudi Arabia is currently pumping 9.45 million barrels a day, which is an increase of about 300,000 barrels from last month.
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