Oil hovers above $91 as traders eye crude supplies
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As I said earlier, the price will go up, will remain steady, will go down, will go up again, and so on, and economies will attempt to purchase more oil by increasing money supply.
What you should look at is supply and demand, esp. 10 pct increases from India and China.
^ just keep the updates posted here. =)
Oil prices rose to near $92 a barrel Monday in Asia as traders mulled how high crude can go before it sparks inflation that slows demand and the global economic recovery.
"2010 Oil Production Was Very Disappointing, And The EIA Is Playing Number Games"
"China claims new nuclear technology"
Oil prices hovered above $90 a barrel Thursday in Asia after a better than expected US jobs report bolstered investor optimism that crude demand will improve.
buti bumaba ng konti. sana bumaba nga uli yung presyo.
Prices usually go down when economies do badly, which means lower prices are coupled with lower income and higher unemployment. And when prices up, it's because income (and demand) go up. In both cases, the effect is generally the same.
What we want is lower cost because of higher production, but oil production has remained relatively flat since 2005 while demand is rising. Finally, as pointed out earlier, both the U.S. military and Lloyd's of London expect global oil production to drop sometime before 2015 (for Lloyd's, 2013).
"US military warns oil output may dip causing massive shortages by 2015"
"Lloyd's adds its voice to dire 'peak oil' warnings"
"It Will Take 131 Years To Replace Oil, And We've Only Got 10"
The reports are available online.
In place of that, articles like this might be more helpful:
"The scourge of 'peak oil'"
Solar Energy Is the Fastest Growing Industry In the US
Employing 93,000 Americans in 2010
Reading materials in PDF...
Expected to grow between 25,000 to 50,000 this year (PDF)
Solar energy is creating more jobs per megawatt than any other energy source (PDF)
installing 10 gigawatts annually by 2015 (PDF)
USA, Europe, and Japan are investing heavily to weather the peak oil crisis and will likely be ready for post-apocalyptic domination of the world market.
As the countdown continuous, China and the rest of the world (Philippines included) are the most ill prepared. Expect record deaths when the poop finally hits the fan.
We should stay away with OIL and develop alternative renewable economy, saying that this administration of mr. Aquino has DELAYED the Feed in Tariff policy, the investors of renewable energy is getting impatient already.
The supply is not just the problem, but as we can see, similar to middle east, the addiction to oil will result WAR, and we should not wait for the Philippines to be like the middle east where everyone is brewing for war just to get the Oil.
Oil demand growth will accelerate next year, led by consumption from emerging economies, the International Energy Agency said on Wednesday contradicting a more conservative outlook from producer club OPEC.