I honestly don't like energy retailers at the moment. And I especially don't like AGL. I think people can do much better than them...
At the risk of appearing somewhat big headed, that would put the timing exactly as predicted by Smurf some years ago.
Seriously though, I was hoping to be wrong about this one.
It seems we're passed the point of maximum oil production. Next, and not far away, comes the point where combined production of oil and gas begins to slide as the growth in gas fails to offset declines in oil.
Then gas actually peaks. Probably sooner than most expect given a three quarters concentration of the resource in a very small number of countries plus the serious depletion of North American and North Sea reserves.
Sometime after that, and it will likely be a while yet, we get a situation where the combined availability of oil, gas and coal peaks as the growth in coal fails to offset declining oil and gas availability.
And then finally, we get a peak in coal itself. A situation that's already happened in a few places, most notably the UK about 90 years ago (though to this day that resource driven peaking is rarely acknowledged).
Hence my very long held view that we'll be using gas to replace oil for transport etc and will be scrambling to find anything other than oil and gas with which to run industry and especially generate electricity.
And for the ordinary consumer, it's starting to get expensive. Power prices are starting to rise and there is plenty more to come. Petrol is up, so is diesel. LPG's getting expensive too. Natural gas is still relatively cheap - but it's increasingly acknowledged that Australian gas is undervalued so that won't last.
Great doco on SBS tonight about the Oil industry. Did anyone catch it??
Benwex
$3 gas: America's braking point
After shrugging off high prices for years, American drivers are finally starting to cut back. Is it a sign of shifting habits, or looming recession?
NEW YORK (CNNMoney.com) -- Gasoline demand has fallen for the first time in years as drivers appear to recoil from near-record prices, throwing doubt on America's seemingly insatiable thirst for fuel.
Growth in gasoline demand has been slowing all year. In five of the last seven weeks, the amount of gas that Americans consume has actually fallen compared to the same time last year, according to retail sales data gathered by MasterCard SpendingPulse, a research report that tracks gasoline sales using MasterCard, other credit cards and cash purchases at approximately 140,000 service stations around the country.
"With prices over $3 a gallon, there seems to be some real resistance from the consumer," said Michael McNamara, director of research for MasterCard SpendingPulse.
In some weeks demand has fallen by as much as 3 percent.
It occurred to me why the Iranians would want to build nuclear reactors when they are sitting on such a large reserve...
Maybe they are smarter than we give them credit for and they realise saving their oil for a rainy day in the future.
When Peak Oil has played out further and the current major suppliers are all in declinie, oil might be reaching $1000+ a barrel.
Could be in less than a decade from now.
Great doco on SBS tonight about the Oil industry. Did anyone catch it??
Benwex
Might be the death of the SUV on the horizion ? US gov aiming for 40mpg vehicles ...
Hopfully,... Bring on the 'plug in Hybrids' I say,
Say is it just a north shore sydney thing or has every body else noticed an explosion in the number of Toyota prius Hybrids,...... they are every where I look.
It makes perfectly good sense for Iran, as a major holder of gas reserves, to avoid using the stuff for power generation. It makes even more sense for others to do likewise.It occurred to me why the Iranians would want to build nuclear reactors when they are sitting on such a large reserve...
Maybe they are smarter than we give them credit for and they realise saving their oil for a rainy day in the future.
When Peak Oil has played out further and the current major suppliers are all in declinie, oil might be reaching $1000+ a barrel.
Could be in less than a decade from now.
Great doco on SBS tonight about the Oil industry. Did anyone catch it??
Benwex
Noticed one yesterday. Only the second time I've ever noticed a privately owned one. Not a huge number out there, at least not near me, but it's increasing.Hopfully,... Bring on the 'plug in Hybrids' I say,
Say is it just a north shore sydney thing or has every body else noticed an explosion in the number of Toyota prius Hybrids,...... they are every where I look.
Saudi production peaked several years ago.Hi Guys,
Just read an alarming piece of triva,...
Apparently Saudi Arabia has 3 times as many producing oil wells than they did in 2000 but are still producing about the same amount of oil each year.
this is the same thing that happened in Texas in the 70's right before they announced that they had declining production levels,
Saudi production peaked several years ago.
At least they have never matched the highs of back then, and plateaued production is now edging down.
It is the primary reason I am very bullish on oil prices into 2008 and beyond.
The counter point is that the Saudis can add to OPEC output and keep oil prices stable, or lower than present. That point is not one that holds water with me.
I agree with you. but I do not which way we can expose to hiking oil price better? At least we have the following options.
1 oil future
2 big oil company like wpl sto
3 Small oil search company bucket strategy like CVN, EGO, CVI, DIO, MPO
4 Oil exploration service company like WOR ( I prefer to expose myself in this way)
5 Coal company like WHC, REY
I agree with you. but I do not which way we can expose to hiking oil price better? At least we have the following options.
1 oil future
2 big oil company like wpl sto
3 Small oil search company bucket strategy like CVN, EGO, CVI, DIO, MPO
4 Oil exploration service company like WOR ( I prefer to expose myself in this way)
5 Coal company like WHC, REY
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?