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spare capacity

Do Saudis have spare capacity? And why your standard of living hinges on it.

Submitted by Denis Tegg on 10 March 2011 - 2:21pm | Blog entry

The conventional response to a supply disruption like from Libya is -- no worries, the Saudis have heaps of oil and can immediately pump more to take up the slack. But do they? And what happens to oil prices if they can't?

Many astute oil experts have grave doubts about the Saudis much vaunted spare capacity. This is vital because Saudi Arabia is the world's largest producer, and up till now has been able to influence the world price by opening the oil taps. » Read more

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oil prices rising rapidly before the unrest in Middle east

Submitted by Denis Tegg on 2 March 2011 - 12:17pm | updated 02 Mar 2011 | Blog entry

Here is the best analysis I have found about what’s been happening on the global oil scene. It also confirms that peak oil pundits like Canadian economist Jeff Rubin, and Richard Heinberg and dozens of others, have been uncannily accurate. This is a précis of Jeff Rubin’s recent article. » Read more

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