World Oil Production to Peak in 2013

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99% of oil futures are traded between institutions: airlines, transportation companies, insurance compaines, banks, investment firms, retirement funds, that sort of thing.
The primary reason oil and other commodities spiked last year was a wholesale switchover away from housing markets, as the subprime crisis hit. As the above invertors ("speculators") realized the mounting losses in housing, they hurriedly pulled their money out and put it into the next best thing: commodities. That's why foodstuff commodities spiked at the same time.
--
Tegger


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When the subprime crisis hit - speculator who were using credit via equity-swaps evaporated and became more susceptible to losses in the derivatives and commodities market. Food stuff commodies were increasing before the subprime crash and have stablized during the following recession. Increase energy cost and increase production of bio fuels - ethnanol in particular - has been blame for the rise in food stuff. Enron has been charged with manipulating electric utility prices higher. Increase use of oil by the world (especially the USA and China), the lack of Iraqi oil production due to the Iraqi War, and low production levels of "sweet crude" high grade oil has also been said to put pressure on the cost oil base fuels.
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wrote in

Welfare recipients should be required to go to a station and pedal bikes to turn generators....to make the electricity...
john
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He had said peak was in early 1990s at one time.
The US and several Oil Majors suggest around 2030-ish.
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rick++ wrote:

What was his call on peak whale oil?
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If global climate trends continue - large tracts of land previously covered by ice will be accessible for oil and natural gas exploration and extraction. This may delay the year that world oil output peaks.
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