Consequences of the World Oil Glut

Forecasting crude oil prices has been difficult. Forecast errors have been large, especially for the end of 2014, when typical forecasts were more than $40 per barrel too high. A panel of Wall Street Journal analysts forecast $94.65 per barrel, but the actual price was $53.27 per barrel. Forecasts implicit in oil futures contracts exhibited […]

Did Crude Oil Production Actually Peak in 2005?

By Kurt Cobb: “Wait a minute,” you must be saying. “Haven’t we been hearing from the oil industry and from government and international agencies that worldwide oil production has been increasing in the last several years?” The answer, of course, is yes. But, the deeper question is whether this assertion is actually correct. Here is […]

Tepco Begins Delicate Job of Removing Fuel Rods From Reactor No.4 of Fukushima Plant

By Joao Peixe: Tepco has begun possibly the most critical process of its clean-up operation at the Fukushima Daiichi nuclear power plant as it attempts to delicately remove the fuel rods, place them in steel casks and transfer them to safer storage facilities. On Monday it carefully extracted the first of more than 1,500 potentially damaged fuel […]

Which Chinese PV Manufacturers Will Survive the Post-Subsidy Apocalypse?

A huge complex built outside Xinyu city in southeast China, was designed to hold 170 solar power companies, but now only five remain. The Chinese government poured billions into making the country the world’s leading manufacturer of photovoltaic (PV) solar panels, yet all that is really left are empty offices, locked doors and vacant buildings. Through the […]

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