Oil Trends Blog

Although we continue to maintain that the world is in no immediate danger of suffering oil shortages, it is clear that world wide oil production will eventually peak.

Much political discussion has addressed the fact that oil companies have not been drilling for oil on leases they presently have available. Despite the efforts of many politicians, such as, Sarah Palin who consistently urge companies to “drill baby drill” there has not been a significant move to drill on these leases. As we have [...]

Contrary to the conventional wisdom espoused by the Cheney oil group, there is new evidence that the U.S. is not in as dire straights as they would have you believe. New information from the Energy Information Administration is now supporting views expressed by Oil Trends Blog in earlier publications. EIA is predicting U.S. crude oil [...]

U.S. natural gas production grew by 9% between the first 7 months of 2007 and the first 7 months in 2008. To put this growth in perspective, U.S. natural gas production was essentially flat for 9 years from 1998 through 2006, before rising by 4% in 2007. Thus, the growth in 2008 so far appears [...]

There has been much discussion lately regarding the need to increase off-shore drilling. In an earlier blog, The Great Oil Shortage Myth, we discussed the fact that there is no short term oil shortage that allegedly accounted for the rapid price increases this year. However, there will come a time when we will see a [...]

Several months ago Oil Trends Blog addressed the rapidly rising cost of crude oil. That blog is titled “The Great Oil Shortage Myth“. The conclusions drawn in this discussion were (a) there was no shortage of oil and (b) the increase in the price of oil was not a supply and demand issue, but, was [...]

There has been considerable discussion regarding the supposed lack of refining capacity in this country and the effect this has had on the price of gasoline and distillate as demand increases. Again the uninformed media and administration officials have been the source of these unfounded rumors. These sources cite their reasons for this interpretation as [...]

As with many other untruths coming from the Bush/Cheney administration and the media, it is not true that we have an oil shortage. This perception has been encouraged by the administration as a ploy to divert attention away from a number of issues, including the economic debacle in Iraq and the devaluation of the dollar. [...]

There has been a good deal of discussion lately with regard to the add campaign being undertaken by T. Boone Pickens concerning the interchangeability of wind power and natural gas usage. It is not clear at this point, however, what his true intentions for this campaign really entail. There has not been enough real information [...]

OIL INDUSTRY STATUS In a recent article by the Miami Herald entitled “U.S. trade deficit hits all-time high”, it was mentioned that the chief culprit in forcing the deficit to this level was global oil prices. According to the article the U.S foreign oil bill soared to a record $251.6 billion, up 39.4% from 2004. [...]