IEA Oil Expert: “Kiss Your Ass Goodbye”

Okay, that’s not quite how he phrased it. But here’s the money shot from George Monbiot’s interview with Faith Birol, chief economist of the International Energy Agency: “In terms of non-Opec [countries outside the big oil producers’ cartel],” [Faith Birol] replied, “we are expecting that in three, four years’ time the production of conventional oil […]

Today’s “Holy Crap” moment

Saudi Arabia, at present still the world’s largest exporter of crude oil, has quit OPEC. Their argument seems to be that they want to continue to meet market demand for oil supply, and OPEC are arguing that the current high price of oil is due to market speculation rather than actual scarcity. Early days yet […]