Fuel Oil
July 17th, 2008 at 11:39am
Under Fuel Oil+ Oil+ Oil business+ Oil price
Today we find ourselves in a very unique position. We are facing unusually high oil hikes. Oil has become so very expensive that people are trying all kinds of extreme measures to lower the price. In fact the hike in price of oil is a bit of a controversial issue. The hike in price has affected every nation; the entire world is trying to find a way out of the soaring prices. The price hike in oil has even started the blame game between several countries. The need for oil has increased in most countries today; we really ought to find an alternative resource.
If you take a look at the last two years, you will realize that the oil prices have steadily increased. They are currently at an all time soaring high price. We may not realize it but increases in oil prices affect the economy of a country in a terrible way. Thanks to the hike in the oil prices, travel expenses have increased. Forget flying being expensive, driving your own car is very expensive. Hike in oil prices effect the regular man besides it being a problem that the government works to solve.
The rise in the oil prices are being analyzed by people all round the world. Many attribute it towards the growing unfriendly relationship between the US and Iran. Because of the dispute between these two nations, prices soar up, especially since Iran happens to be a nation that produces the most number of oil. And ofcourse another important reason for its increase is the fact that today the global demand is way more than the global supply being offered. Many developing and under developed countries are desperate for more oil to fuel their economy and yet somehow the regions producing oil don’t seem to produce enough to go meet everyone’s needs.
Higher oil prices my friend, affects everything. Right from everything produced, transported, food items, and of course your exports. Basically, life as you know it, the cheap way, will seize to exist. Everything you need to buy will increase. Oil prices leads to rise in price of more commodities than you can think of which ultimately makes one have to live a life of more expenses. The toll is seen on the common man. It is the working class that will get affected the most due to soaring high prices. Oil prices will not affect you at the gas pumps; you will find yourself paying the price for it even at your grocery store.
By Oilism.com
February 12th, 2008 at 04:52pm
Under Crude oil+ Fossil fuels+ Fuel Oil+ Fuel Prices+ Oil Price 2008+ bio ethanol+ energy prices
As the world knows, the prices of crude oil are jumping up fast, and show no signs of slowing down. The same price effect is seen with the fuel prices for gasoline and diesel. The average fuel price for a gallon gasoline in the US is now over $3.00 and Americans are getting used to the fact that “Buying a Car is much easier than Keeping it Rolling”. Car owner costs are increasing lately by raising concerns about the insurance/banking sector and the sharp raise of crude oil prices.
As gasoline prices has jumped above $3 several times lately it made me think “Will we get used to gas prices going over $4.00 or $7.00 or even higher?? Many experts are saying other fuel sorts like bio-ethanol will take over this market, but these new energy products don’t show signs of taking over the market any time soon as it isn’t even publicly available yet. And even if new energy products like bio ethanol, wind energy, solar and others take over, it will take awhile… at least 15-20 years according the international energy advisory board. Still at the demand side for crude oil there are absolutely no signs of slowing down.
A recent crude oil and fuel study showed that the entire world is consuming oil at a rate of more than 1,000 barrels per second, including all kinds off crude oil products. According to the International Energy Agency, global oil demand will increase to an average of 87.8 million barrels per day though out 2008.
Can we seriously find an alternative for our “extreme addiction” for crude oil as George W. Bush calles it. We must find out soon, before it’s too late. What’s your opinion?
Check the fuel prices graphs for Gasoline and Diesel fuel prices.
By Oilism.com
November 13th, 2007 at 03:53pm
Under Crude oil+ Fuel Oil+ OPEC
Although the price of a barrel of crude oil increased the previous months spectacularly and hovered last week even around the 100 US dollars. This week every piece of little news related directly or indirectly caused a immediately fall of the crude oilprice. All crudes like brent(north sea) light sweet and NYMEX dropped heavily in value this week all by the news of the worldwide economy cooling down.
The crude oil price fell with more than 0.8% to 93.87 dollar from historical heights after the international energy agency (IEA) adjusted the expectation for the demand for crude oil and gas in the rest of 2007 and 2008 downwards.
Intraday on Teusday it only got worse, the oilprice slipped below the 91 US dollars a barrel.
Tuesday the 13 November the IEA lowered its expectation for the worldwide oil markets and forecasts the demand will decrease this year with 570,000 barrels per day. For next year the same outlook is communicated, the demand for crude oil will be lower than most investors now expecting. In accordance to the IEA the consumers already adapting to new raised prices of oil, gas and fuel at taking higher prices in account.
Also the falling US economic growth in the United States contributes to the decreasing demand. This official statement of the IEA comes in front of the meeting of the OPEC, the organisation of oil exporting countries, which takes place next weekend in Riyad. Different OPEC deputies already said that the chances of possible oil production cuts are very limited.
By 0dmin
October 26th, 2007 at 04:41pm
Under Crude oil+ Fossil fuels+ Fuel Oil+ Oil+ bio ethanol+ energy prices+ peak oil
Human-beings are for their development dependent on their energy reserves. More energy means a more rapidly and sophisticated a society. Energy is everything, literal. The current society depends almost entirely on oil and gas. The industrial revolution was fed by fossile fuels. In former days in the form of coals, nowadays in the form of oil and gas. Almost every aspect of our daily life is made with, or gets energy by, fossil fuels. It stipulates our manner of life, our look on the world, how we live and where we live.
Industries are entirely depending on their energy supplies like oil and gas so suppliers can use our need for energy for political aims by threatening to stop energy supplies. A recent example of this is Russia, which uses gas as a political power against neighbors like Georgia, Ukraine and Belarus.
Too conservative
The volume of the worldwide oil stock reserve is difficult to calculate. Optimists and pessimists continue contradict each other in this. Some countries also benefit by underestimating or over-estimating their oil reserves. Although the world wide oil supply reserves are annually reported in the “Oil and gas Journal“ but these quantity figures are impossible to independently check.. Furthermore it is not possible to tell how much oil will be found in the near and far future. According to some scientists half of the totally valued quantity of oil on earth has been pumped and refined already. According to optimists it still lasts decades before we will reach the point of “peak oil” and then what?
Because of the development of advanced technology oil will be will pumped for quite a while. Even sources which were formerly considered as exhausted can be obtained in the future in a cost-effective way. Up to at the beginning of the next century.
It is certain, that the demand for oil will only continue to increase. New emerging markets and economies, such as China and India, and the increasing world population will ask for more and more energy. If the pessimists are right and we reach the moment of peak oil shortly, the supply of oil will become less every year. The impact is serious, because every aspect of our life is influenced as a result of it. We must reconsider our world energy regime to be not too much dependent of other countries for our energy, on the other side to limit CO2-emissions.
By Oilism.com
October 25th, 2007 at 03:36pm
Under Crude oil+ Fossil fuels+ Fuel Oil+ bio ethanol+ energy prices
According to a recent publication the oil-producing countries, further OPEC, is becoming more nervous about the rise on Bio-ethanol products, in spite of that the impact is as yet limited for now. The fear of the oil-producing countries OPEC is remarkable. The influence of Bio-ethanol is still very limited, as it happens, – and that remains provisionally this way, according to the international Energy Agency (IEA) in its World Energy report.
The produced quantity of crude oil increases, however, the share of Bio-ethanol fuel amounts in 2030, still no longer than seven percent. The risks according to the Opec is motivated by the split in which the trust finds oneself. In one hand the Oil producers and refiners are asked to produce as much oil as possible to satisfy to the enormous energy question, on the other hand especially the west tries to reduce the dependence of the same OPEC by giving full commitment on green diesel and petrol. Those who must fear most of all for the up rise of bio energy are the poorest people in the world: they see the price of food sharply increasing because for example wheat disappears more and more as fuel in the tank of cars.
By Oilism.com