More Energy price rises?

http://news.bbc.co.uk/1/hi/business/7395430.stm

Time for a public buy back me thinks...

 

We have come to the end of cheap energy. all non renewable fuels....

are going to keep getting kore expensive.

Production cannot meet demand anymore, the world has hit Peak Oil and Peak Gas.

But nobody seems to be bothered.

 

RE: We have come to the end of cheap energy. all non renewable fuels....

How do you work out we have come to peak oil and gas? Do you know what it means?

 

Of course i know what it means

The rising energy costs prove this

 

RE: Of course i know what it means

"Peak Oil" means that as a global economy we have reach the peak in production of oil. We are still increasing our output of oil. Demand is increasing at a faster rate which is why the prices are rising. Admittedly we are not finding as much oil as we previously did but the finds are still greater than what we producing, they just are harder to get out, so they cost more.

Gas is another matter all together. Lots of it about but you cannot transport it as easily as oil.

 

<p class="MsoNormal" style="margin: 0cm 0cm 0pt"><font face="Times New Roman" size="3">It&rsquo;s marvellous that the gas prices go down in summer months &amp; up winter months (chinny) </font></p>

 

If we are easily meeting demand in Oil

Why are the prices going barmy.

I know some oil is more expensive to extract but it wouldn't have pushed prices up this far.

 

Supply and Demand - Not much supply and demand is going through the roof.

China's going through an economic boom and their demand is driving up prices.

Currently $123+ a barrel and expected to top $200 in the next 6-24 months.

 

RE: If we are easily meeting demand in Oil

It's mainly on the futures. OPEC control the output and the hold back some of their production. Saudi is the iggest producer and the cost of their oil is approx, $1.5/barrel. North Sea oil nomally costs about $30-40/barrel. The cheap, easy to get at oil is running out so we have to turn to more expensive ways of getting the oil.

We are not easily meeting demand, I did not say that. Demand is rising faster than production is rising but that's nothing a good global recession won't cure. If we couldnt meet demand there would be no more oil.

Political problems in Nigeria are also keeping the price high.

Demand is the main problem though.

 

I know China and India are pushing demand high which isn't helping

I can't see a way out of a full global recession which will hit everyone hard, if as you say we've not hit Peak Oil yet i think it will be very soon and things will get very hard.

Could be the end of 'The Industrail Age'

Unless the world changes it's ways very soon i think we are in for a shock.

 

we are makin the effort carbon footprint etc but china and india arent doin anything in terms of progression of the countries they are where we were 50yrs ago

 

RE: I know China and India are pushing demand high which isn't helping

As a race we are very innovative and always find a way out of problems. Coal to Oil (or even gas) technologies look feasible but cost more so we have to pay more for the energy.

A global recession will slow down the demand for energy which will drive prices down.

The weak dollar also makes things look worse than they are.

It's a very complex topic. Energy prices are beyond the control of most us so why worry? The only thing we as individuals can do is look at reducing our direct and indirect energy usage as much as we feel comfoirtable with.

 

E-on don't seem able to work out how to send me a bill. Despite telling them my address and asking for one over 8 months, they still haven't sent one.

Good job really as I can't afford it anyway.

Baliff's will be knocing at my door if they get their arses in gear.

Still, they have to maximise their profit like the oil corporations, its the natural law, innit?

 

RE: Of course i know what it means

I was under the impression that whilst there was still more capacity in terms of extraction, we had just about reached capacity in refining the stuff.

 

Eat lots of beans...

wind turbine in the bedroom, job done!

 

RE: If we are easily meeting demand in Oil

Doesnt OPEC only produce about 40% of the Worlds Oil though?

 

NONSENSE!!

OPEC are controlling the output!

 

RE: NONSENSE!!

They only control about 40% of the Worlds supply.

 

what about all this coal we are sat on top of? nt

 

RE: Of course i know what it means

Extraction capability is not unlimited but not the main cause of the high prices.

Refining capacity is stretched in the West but new refineries are being built as we speak. Saudi for instance although a the biggest exporter of oil actually imports oil products.

It's something I don't understand why when there is a problem at a refinery the oil price goes up, as they are part of the demand so the price should go down. I just put it down to stupid London oil traders.