BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Lie #10: China Experienced Double-Digit Growth in 2009]]>http://www.bloggingstocks.com/2009/12/27/lie-10-china-experienced-double-digit-growth-in-2009/http://www.bloggingstocks.com/2009/12/27/lie-10-china-experienced-double-digit-growth-in-2009/http://www.bloggingstocks.com/2009/12/27/lie-10-china-experienced-double-digit-growth-in-2009/#commentsFiled under:

Lie #10 -- China experienced double-digit growth in 2009If you think China saw double-digit growth this year, you may also believe swine flu is spread via flying pigs.

The London-based Lombard Group, using energy data from the International Energy Agency -- which we can assume is a bit more accurate than the nonsense printed by the Chinese government -- shows GDP growth may have been just 2% in the first quarter rather than the reported 6.1%. And even that growth is being held up by government stimulus and state banks lending money to anyone and everyone to build capacity no one needs or to invest in Chinese equities no one can fairly value since Chinese accounting is as good as Chinese government data.

Continue reading Lie #10: China Experienced Double-Digit Growth in 2009

Lie #10: China Experienced Double-Digit Growth in 2009 originally appeared on BloggingStocks on Sun, 27 Dec 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChinaGDP growthInternational Energy AgencyLombard GroupMichael Shulmanwall street liesSun, 27 Dec 2009 16:00:00 EST<![CDATA[IEA: Global energy use to resume an upward trend]]>http://www.bloggingstocks.com/2009/11/10/iea-global-energy-use-to-resume-an-upward-trend/http://www.bloggingstocks.com/2009/11/10/iea-global-energy-use-to-resume-an-upward-trend/http://www.bloggingstocks.com/2009/11/10/iea-global-energy-use-to-resume-an-upward-trend/#commentsFiled under: , , , ,

According to the International Energy Agency (IEA), global energy use is going to fall this year. That said, the group also believes that energy use will resume its upward trend, should government policies remain the same.

Looking far ahead, the IEA believes that the world's demand is projected to rise by 40% between now and 2030, when demand is estimated to hit 16.8 billion tons of oil equivalent.

Continue reading IEA: Global energy use to resume an upward trend

IEA: Global energy use to resume an upward trend originally appeared on BloggingStocks on Tue, 10 Nov 2009 15:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fuel usegasolineIEAInternational Energy Agencyinthenewsoiloil demandTue, 10 Nov 2009 15:00:00 EST<![CDATA[IEA's increased 2010 oil demand forecast is good news for U.S., global economies]]>http://www.bloggingstocks.com/2009/10/12/ieas-increased-2010-oil-demand-forecast-is-good-news-for-u-s/http://www.bloggingstocks.com/2009/10/12/ieas-increased-2010-oil-demand-forecast-is-good-news-for-u-s/http://www.bloggingstocks.com/2009/10/12/ieas-increased-2010-oil-demand-forecast-is-good-news-for-u-s/#commentsFiled under: , ,

Rising oil prices a positive development for economies around the world? For the new investor, that may appear to be a contradiction in terms, but experienced investors know it's not.

The International Energy Agency's 350,000 barrel-per-day (bpd) increase in its 2010 global oil demand forecast to 86.05 million bpd is a positive development for both the U.S. and global economies - positive, that is, provided oil prices don't return to stratospheric levels.

Continue reading IEA's increased 2010 oil demand forecast is good news for U.S., global economies

IEA's increased 2010 oil demand forecast is good news for U.S., global economies originally appeared on BloggingStocks on Mon, 12 Oct 2009 15:25:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>catemerging marketsIEAInternational Energy AgencyutxMon, 12 Oct 2009 15:25:00 EST<![CDATA[IEA sees two-year global oil demand decline for first time since 1982-83 ]]>http://www.bloggingstocks.com/2009/01/16/iea-sees-2-year-global-oil-demand-decline-for-first-time-since-1/http://www.bloggingstocks.com/2009/01/16/iea-sees-2-year-global-oil-demand-decline-for-first-time-since-1/http://www.bloggingstocks.com/2009/01/16/iea-sees-2-year-global-oil-demand-decline-for-first-time-since-1/#commentsFiled under: , ,

Investors thinking about positioning themselves in oil stocks, or in other stocks that would benefit from higher oil prices may want to wait awhile.

Global oil demand -- a major factor in determining oil's price -- is expected to decline in 2009 by 1 million barrels per day (bpd), the International Energy Agency announced Friday in its latest monthly report.

Even more significant, the IEA also decreased its 2008 global oil demand estimate by 70,000 bpd to 85.8 million bpd, a reduction which means oil demand dropped 0.3% in 2008 and is forecast to decline 0.6% in 2009 -- the first 2-year decline in global oil demand in 26 years, or since 1982-1983.

Oil fell 13 cents on Friday at mid-day to $35.24 per barrel. Oil has fallen an astounding $112.03 since hitting a record high of $147.27 per barrel in the summer of 2008.

Continue reading IEA sees two-year global oil demand decline for first time since 1982-83

IEA sees two-year global oil demand decline for first time since 1982-83 originally appeared on BloggingStocks on Fri, 16 Jan 2009 13:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsenergy stocksEnergyStocksgasoline pricesIEAInternational Energy Agencyinthenewsoil pricesoil stocksOilStocksFri, 16 Jan 2009 13:45:00 EST<![CDATA[Right now, it's an oil market that knows no (lower) bounds]]>http://www.bloggingstocks.com/2008/12/22/right-now-its-an-oil-market-that-knows-no-lower-bounds/http://www.bloggingstocks.com/2008/12/22/right-now-its-an-oil-market-that-knows-no-lower-bounds/http://www.bloggingstocks.com/2008/12/22/right-now-its-an-oil-market-that-knows-no-lower-bounds/#commentsFiled under: , , ,

OPEC cut production by 9% last week, and has pared production by more than 4 million barrels per day (bpd) this year, but even those large supply cuts may not be able to create a bottom in oil's price.

Incredibly, more production cuts may be needed, so say economists. The modifier 'incredibly' is used to describe current conditions in the oil market because less than one year ago the talk was of spot shortages, out-of-control commodity prices due to emerging market demand, and visions of $200 crude.

However, the U.S. economy fell into a recession in late 2007, intensifying the ripple effects of the financial crisis, which pushed the global economy into a recession this year, and the oil market not only just cooled, it collapsed. Oil Friday closed down $2.35 to $33.87 per barrel. Oil has fallen an unthinkable, mind-boggling 77% since hitting an all-time high of $147.27 per barrel in the summer.

Possible 'nightmare' oil producers' scenario

Further, a bottom for oil prices is nowhere in sight, so says economist Peter Dawson. Oil will test $30 per barrel very soon, he said, due to declining U.S. gasoline and oil consumption, and slowing oil consumption growth around the world.

Continue reading Right now, it's an oil market that knows no (lower) bounds

Right now, it's an oil market that knows no (lower) bounds originally appeared on BloggingStocks on Mon, 22 Dec 2008 10:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsfeaturedgasoline pricesIEAInternational Energy Agencyoil pricesOPECMon, 22 Dec 2008 10:59:00 EST<![CDATA[Tell-tale stat: IEA says global oil demand will fall in 2008 for first time in 25 years]]>http://www.bloggingstocks.com/2008/12/14/tell-tale-stat-iea-says-global-oil-demand-will-fall-in-2008-for/http://www.bloggingstocks.com/2008/12/14/tell-tale-stat-iea-says-global-oil-demand-will-fall-in-2008-for/http://www.bloggingstocks.com/2008/12/14/tell-tale-stat-iea-says-global-oil-demand-will-fall-in-2008-for/#commentsFiled under: , , , ,

There are data points of consequence, and then there are data points that literally alter business plans and national goals.

The International Energy Agency's December oil market report is an example of the later, as the agency forecasts that 2008 global oil demand will decline - - that's correct, decline - - for the first time since 1983.

Oil demand: from boom to bust

The agency now expects 2008 global oil demand will fall by 200,000 barrels per day (bpd) to 85.8 million bpd, down about 350,000 bpd from its previous forecast.

Further, the IEA also sees slower demand growth in 2009, forecasting 2009 global oil demand to rise to only 86.3 million bpd, but the agency quickly noted that the forecast is based on the International Monetary Fund assumption that the global economy will gradually recover starting in the second half of 2009.

Economist Peter Dawson said the U.S. and global recessions are at the heart of both the world's first oil consumption decline in 25 years and the modest oil demand picture for 2009.

"We have seen two, large, macro changes in the oil market. The first was American consumers finally cutting back gasoline consumption. First the $4 a gallon gasoline price, then simply fewer drivers from rising unemployment, cut U.S. gasoline consumption," Dawson said. "Second, the remaining regions of the world, the E.U. and Asia, followed the U.S. into a recession, flat-lining oil growth in these areas. We now have all three major economic regions of the world in recession for the first time in the modern era, and that's really bearish for oil prices."

Continue reading Tell-tale stat: IEA says global oil demand will fall in 2008 for first time in 25 years

Tell-tale stat: IEA says global oil demand will fall in 2008 for first time in 25 years originally appeared on BloggingStocks on Sun, 14 Dec 2008 14:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsgasoline pricesIEAInternational Energy Agencyinthenewsoil pricesOPECSun, 14 Dec 2008 14:15:00 EST<![CDATA[OPEC still seen cutting supply in December, but will members comply?]]>http://www.bloggingstocks.com/2008/11/18/opec-still-seen-cutting-supply-in-december-but-will-members-com/http://www.bloggingstocks.com/2008/11/18/opec-still-seen-cutting-supply-in-december-but-will-members-com/http://www.bloggingstocks.com/2008/11/18/opec-still-seen-cutting-supply-in-december-but-will-members-com/#commentsFiled under: , , ,

OPEC, which Tuesday again lowered its 2009 global oil demand forecast (pdf), is still seen cutting production quotas, but at its regularly scheduled meeting on December 17 in Algeria, not at its special meeting November 29 in Cairo.

Still, the compelling question remains whether OPEC members will comply with existing decisions to lower production, let alone new ones, said economist Peter Dawson.

OPEC problem: production 'cheaters'

"OPEC members are getting into a bit of quandary, and it's one we've seen before, cyclically, in the oil market. States know that if they all cut, their action will support prices some," Dawson said. "The problem has been that historically, some members 'cheat' a little and produce over their quota, thinking their small increase will not affect prices that much, and they will reap extra revenue as a result. When several members do this, the price of oil continues to drop, and so does the cartel's effectiveness."

In the past, cheaters have been small OPEC states, such as Iran, Libya and Nigeria, Dawson said. Oil Tuesday fell 37 cents to $54.58 per barrel. Oil has plunged more than 60% since hitting a record high of $147.27 per barrel this summer, as both long-term investors and short-term traders exited long positions in the markets.

Continue reading OPEC still seen cutting supply in December, but will members comply?

OPEC still seen cutting supply in December, but will members comply? originally appeared on BloggingStocks on Tue, 18 Nov 2008 10:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>gasoline pricesGasolinePricesIEAInternational Energy AgencyInternationalEnergyAgencyinthenewsoil pricesOilPricesOPECTue, 18 Nov 2008 10:40:00 EST<![CDATA[The International Energy Agency warns of lack of investment in oil production]]>http://www.bloggingstocks.com/2008/11/12/the-international-energy-agency-warns-of-lack-of-investment-in-o/http://www.bloggingstocks.com/2008/11/12/the-international-energy-agency-warns-of-lack-of-investment-in-o/http://www.bloggingstocks.com/2008/11/12/the-international-energy-agency-warns-of-lack-of-investment-in-o/#commentsFiled under: , , , , ,

In a new report today, the International Energy Agency warned that an insufficient amount of investment into oil supply is going to result in a serious supply shortage that could make the recent record high oil prices look weak in comparison.

Oil prices spiked to a record high $147 a barrel earlier this summer, but have since been in a pretty steady downward spiral, and were down again today, as the credit crunch and recession fears have created fear among oil investors that oil demand is going to erode over the months to come.

Prices were off sharply again today, and in afternoon trading oil was down another $3.17 a barrel to $56.16, off 5.3% on the day, as the U.S. government lowered its forecast for oil next year to $63.50, down from its previous estimate of $112 that it maintained back in October.

Continue reading The International Energy Agency warns of lack of investment in oil production

The International Energy Agency warns of lack of investment in oil production originally appeared on BloggingStocks on Wed, 12 Nov 2008 17:05:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredIEAInternational Energy AgencyInternationalEnergyAgencyoiloil demandoil pricesoil supplyOilDemandOilPricesOilSupplyWed, 12 Nov 2008 17:05:00 EST<![CDATA[IEA cuts 2008, 2009 global oil demand forecasts ... again]]>http://www.bloggingstocks.com/2008/09/10/iea-cuts-2008-2009-global-oil-demand-forecasts-again/http://www.bloggingstocks.com/2008/09/10/iea-cuts-2008-2009-global-oil-demand-forecasts-again/http://www.bloggingstocks.com/2008/09/10/iea-cuts-2008-2009-global-oil-demand-forecasts-again/#commentsFiled under: , ,

What's a telling sign of slowing global growth? Continually decreasing oil demand forecasts.

The International Energy Agency again lowered its global oil demand forecasts for 2008 and 2009 as high prices and reduced U.S. consumption lowered overall demand for crude, the organization announced Wednesday. It lowered its 2008 forecast by 100,000 barrels per day to 86.8 million barrels, and 2009 estimate by 140,000 barrels to 87.6 million barrels.

The IEA's announcement had little impact on oil prices early Wednesday as oil rose 60 cents to $104.43 per barrel. However, it should be noted that two bullish factors also affected prices Wednesday: an OPEC announcement of a commitment to existing production quotas with a pledge not to exceed them, as some cartel members have in the past; and Hurricane Ike in the Gulf of Mexico, which threatened to damage oil rigs and infrastructure as it approaches the Texas-area coastline, according to weather.com.

Oil's price surge takes a toll

Oil has declined about 30% since hitting a record high of $147.27 per barrel in July 12. Economist Richard Felson told BloggingStocks Wednesday the dip in oil's price over the past two months is not nearly enough to blot-out the process-changing affect of oil's four-year price surge.

Continue reading IEA cuts 2008, 2009 global oil demand forecasts ... again

IEA cuts 2008, 2009 global oil demand forecasts ... again originally appeared on BloggingStocks on Wed, 10 Sep 2008 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AsiaChinaemerging marketsEUEuropean Uniongasoline pricesgdpglobal oil demandglobal oil supplyIEAIndiaInternational Energy Agencyinthenewsoil pricesoil shockU.S. economyUnited StatesWed, 10 Sep 2008 11:00:00 EST<![CDATA[No small feat: 2009 could be year global oil consumption growth slows]]>http://www.bloggingstocks.com/2008/08/25/no-small-feat-2009-could-be-year-global-oil-consumption-growth/http://www.bloggingstocks.com/2008/08/25/no-small-feat-2009-could-be-year-global-oil-consumption-growth/http://www.bloggingstocks.com/2008/08/25/no-small-feat-2009-could-be-year-global-oil-consumption-growth/#commentsFiled under: , , ,

Two organizations, one projection: a forecast of 86.9 million barrels of oil per day consumed in 2009.

The International Energy Agency and OPEC arrived at the same projection, suggesting that, in economist Peter Dawson's interpretation that "2009 is going to be a year of a slowdown in oil consumption growth, which is significant."

Moreover, Dawson is quick to highlight what's important in the above: slowing oil consumption growth in emerging markets. Oil consumption in the United States has been falling for more than two years -- it's projected to drop 3.1% in 2008 and another 2.3% in 2009. It's oil consumption in the developing world, primarily China and India, that really moves prices, Dawson said. Oil Monday closed up 52 cents to $115.11 per barrel.

'A small victory, that we'll take'

Right now it appears, for the first time in more than five years, consumption growth (not to be confused with a consumption decline) will slow, he said.

"It's a small victory, that we'll take, regarding the oil markets," Dawson said. "For the first time in a while we'll see some demand relief internationally, and that has to help lower oil prices."

Continue reading No small feat: 2009 could be year global oil consumption growth slows

No small feat: 2009 could be year global oil consumption growth slows originally appeared on BloggingStocks on Mon, 25 Aug 2008 17:43:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AsiaChinaemerging marketsEUEuropean Unionfeaturedgasoline pricesgdpIEAIndiaInternational Energy Agencyoil pricesoil shockOPECU.S. economyUKUnited KingdomMon, 25 Aug 2008 17:43:00 EST<![CDATA[IEA increases 2008 global oil demand forecast slightly on China's growth]]>http://www.bloggingstocks.com/2008/07/10/iea-increases-2008-global-oil-demand-forecast-slightly-on-china/http://www.bloggingstocks.com/2008/07/10/iea-increases-2008-global-oil-demand-forecast-slightly-on-china/http://www.bloggingstocks.com/2008/07/10/iea-increases-2008-global-oil-demand-forecast-slightly-on-china/#commentsFiled under: , , ,

The International Energy Agency Thursday increased its 2008 global oil demand forecast slightly, citing China's oil demand, the agency announced.

In its monthly report, the IEA increased global oil demand forecast by 0.1% , or 80,000 barrels per day, to 86.85 million barrels per day. The IEA serves as an energy advisor to 27 industrialized nations, including the United States, United Kingdom, Germany, France, and Japan. Oil rose $1.03 to $137.08 per barrel in Thursday morning trading.

Economist David H. Wang told BloggingStocks Thursday he expects China's oil demand increase in 2008 to be "roughly in-line with the IEA's 5.6% growth forecast."

"China may end up registering oil demand growth less than 5.6%, if the Chinese Government continues to gradually increase the retail price of gasoline and diesel," Wang said. "My research indicates we are not seeing demand destruction yet in China, but this could change. Gasoline now costs about $3.30-$3.50 [per gallon] and if China approves another round of increases, demand could begin to be pinched, as it has in the United States."

Another gas price hike in China?

However, Wang said investors / traders should not assume another gasoline price increase nor lower oil demand in China. "China is trying to take pressure off energy prices and slow its economy, but there's only so much they can increase prices before they have serious consequences on its economy," he said. "The middle class can withstand the price increases but may others with lower incomes can not."

Continue reading IEA increases 2008 global oil demand forecast slightly on China's growth

IEA increases 2008 global oil demand forecast slightly on China's growth originally appeared on BloggingStocks on Thu, 10 Jul 2008 13:36:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>gasoline pricesIEAInternational Energy AgencyinthenewsOECDoiloil pricesoil shockOrganization for Economic Cooperation and DevelopmentThu, 10 Jul 2008 13:36:00 EST<![CDATA[Oil rises above $142 on reduced IEA supply forecast, Israel-Iran tension]]>http://www.bloggingstocks.com/2008/07/01/oil-rises-above-142-on-reduced-iea-supply-forecast-israel-iran/http://www.bloggingstocks.com/2008/07/01/oil-rises-above-142-on-reduced-iea-supply-forecast-israel-iran/http://www.bloggingstocks.com/2008/07/01/oil-rises-above-142-on-reduced-iea-supply-forecast-israel-iran/#commentsFiled under: , , , ,

Oil prices rose above $142 on a lowered supply estimate and tension between Israel and Iran over Iran's nuclear program.

Oil rose $2.06 to $142.06 per barrel after the International Energy Agency predicted that spare capacity in OPEC will shrink by 2013, keeping the oil market "tight."

Oil bulls were also motivated to hit the buy button after ABC News reported that Israel may attack Iran's nuclear facilities if Iran acquires enough uranium to build a nuclear weapon, citing a Pentagon source who spoke on condition he not be identified.

The other major energy commodities also vaulted higher Tuesday at mid-day on the news. Heating oil rose 8 cents to $3.97 per gallon, unleaded gasoline increased about 5 cents to $3.54 per gallon, and natural gas added 20 cents to $13.55 per million BTUs.

Continue reading Oil rises above $142 on reduced IEA supply forecast, Israel-Iran tension

Oil rises above $142 on reduced IEA supply forecast, Israel-Iran tension originally appeared on BloggingStocks on Tue, 01 Jul 2008 13:21:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredgasoline pricesIEAInternational Energy AgencyIranIsraeloil pricesoil shockOPECTue, 01 Jul 2008 13:21:00 EST<![CDATA[IEA calls for 'energy revolution' to lower fossil-fuel dependence]]>http://www.bloggingstocks.com/2008/06/06/iea-calls-for-energy-revolution-to-lower-fossil-fuel-dependenc/http://www.bloggingstocks.com/2008/06/06/iea-calls-for-energy-revolution-to-lower-fossil-fuel-dependenc/http://www.bloggingstocks.com/2008/06/06/iea-calls-for-energy-revolution-to-lower-fossil-fuel-dependenc/#commentsFiled under: , , ,

Almost on cue, following oil's $12 rise in two days to $134, the International Energy Agency said the world needs to invest an additional $45 trillion in the decades ahead to vastly expand both nuclear power and wind power capacity to meet global energy needs.

Strictly speaking, the IEA's call to action was rooted in reducing the world's greenhouse gas emissions and achieving what it argues will be "a clean, clever, energy future" and not to move away from oil or fossil fuels solely on cost grounds. (pdf)

Still, the report's 2050 ETP Baseline scenario projects that CO2 emissions will rise by 130% and oil demand will rise by 70% - - the latter total being equal to five times Saudi Arabia's current oil production. If the IEA's oil projection is correct, that would suggest additional large increases in the price of oil in the decades ahead - - on top of oil's more than 400% price rise since 2001.

Continue reading IEA calls for 'energy revolution' to lower fossil-fuel dependence

IEA calls for 'energy revolution' to lower fossil-fuel dependence originally appeared on BloggingStocks on Fri, 06 Jun 2008 18:43:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>climate changecoalemering marketsfossil fuelsgdpglobal warmingglobalizationIEAInternational Energy Agencyinthenewsnatural gasnuclear poweroil pricesrenewable energysolar powerwind millswind powerWindMillsFri, 06 Jun 2008 18:43:00 EST<![CDATA[IEA again cuts 2008 global oil demand forecast]]>http://www.bloggingstocks.com/2008/05/13/iea-again-cuts-2008-global-oil-demand-forecast/http://www.bloggingstocks.com/2008/05/13/iea-again-cuts-2008-global-oil-demand-forecast/http://www.bloggingstocks.com/2008/05/13/iea-again-cuts-2008-global-oil-demand-forecast/#commentsFiled under: , , ,

An economic slowdown in the United States and other industrial nations will continue to damper oil consumption growth, the International Energy Agency announced Tuesday, as it again trimmed its global oil demand estimate for 2008.

The IEA lowered its forecast for 2008 global oil demand by another 390,000 barrels to 86.8 million barrels per day from about 87.2 million barrels, the association announced in its latest monthly report. At the same time, the IEA revised its analysis of 2007 oil usage, saying the world used about 85.8 million barrels per day last year.

Oil traded $1.50 higher to $125.70 per barrel in Tuesday afternoon trading. Oil hit an all-time high of $126.98 in electronic trading earlier in the day and has risen about 100% in the past 12 months.

Continue reading IEA again cuts 2008 global oil demand forecast

IEA again cuts 2008 global oil demand forecast originally appeared on BloggingStocks on Tue, 13 May 2008 15:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsfeaturedgasolineheating oilIEAInternational Energy Agencynatural gasoilOPECTue, 13 May 2008 15:45:00 EST<![CDATA[A pleasant scenario for oil-exporting nations: Lower production, but higher revenue]]>http://www.bloggingstocks.com/2008/05/08/a-pleasant-scenario-for-oil-exporting-nations-lower-production/http://www.bloggingstocks.com/2008/05/08/a-pleasant-scenario-for-oil-exporting-nations-lower-production/http://www.bloggingstocks.com/2008/05/08/a-pleasant-scenario-for-oil-exporting-nations-lower-production/#commentsFiled under: , , ,

As serious as the oil issue is in the United States, the west, and globally, considering its impact on economic development, circumstances could become even more challenging, in the quarters ahead, if present trends continue.

That's because, due to emerging market growth and per capita energy consumption rates in the United States - the oil -producing world "could be in a position of unprecedented pricing power," according to economist Glen Langan.

Langan says "could be" because the pricing power oil producers currently have, while significant, is not absolute. And oil-consuming nations still have time to regain some control over their oil bills. Oil Thursday reached a record high of $123.74 per barrel before closing slightly lower.

Here's the current global oil supply / demand landscape, as Langan sees it: daily global oil supply exceeds demand by the smallest of margins. It's the major reason the price of oil has been trending up for more than 5 years, but oil-consuming nations can increase that margin, via conservation, increased efficiency, and alternative sources of energy.


Continue reading A pleasant scenario for oil-exporting nations: Lower production, but higher revenue

A pleasant scenario for oil-exporting nations: Lower production, but higher revenue originally appeared on BloggingStocks on Thu, 08 May 2008 12:14:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChinaEuropean Unionfeaturedgasolinegasoline pricesglobal oil demandglobal oil supplyIEAIndiaInternational Energy Agencyoiloil pricesOPECUnited StatesThu, 08 May 2008 12:14:00 EST<![CDATA[CIBC's Rubin says oil to hit $200, gasoline $7 by 2012]]>http://www.bloggingstocks.com/2008/04/24/cibcs-rubin-says-oil-to-hit-200-gasoline-7-by-2012/http://www.bloggingstocks.com/2008/04/24/cibcs-rubin-says-oil-to-hit-200-gasoline-7-by-2012/http://www.bloggingstocks.com/2008/04/24/cibcs-rubin-says-oil-to-hit-200-gasoline-7-by-2012/#commentsFiled under: , , ,

The worst-case scenario regarding the price oil just became, well, a little worse.

On Thursday CIBC World Markets Chief Economist Jeff Rubin said oil production will barely grow over the next five years, and that shortfall, combined with solid emerging market demand, will drive oil to $150 per barrel by 2010 and $200 per barrel by 2012, and The Financial Post reported Thursday.

Just as bad, and despite easing gasoline demand in the United States, U.S. gasoline prices will climb to as much as $7 per gallon by 2012, Rubin said, and The Financial Post reported.

Continue reading CIBC's Rubin says oil to hit $200, gasoline $7 by 2012

CIBC's Rubin says oil to hit $200, gasoline $7 by 2012 originally appeared on BloggingStocks on Thu, 24 Apr 2008 17:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CIBCCIBC World Marketsemerging marketsgasolinegasoline pricesIEAInternational Energy Agencyoiloil pricesRubinThu, 24 Apr 2008 17:58:00 EST<![CDATA[T. Boone Pickens says oil is headed to $125]]>http://www.bloggingstocks.com/2008/04/17/t-boone-pickens-says-oil-is-headed-to-125/http://www.bloggingstocks.com/2008/04/17/t-boone-pickens-says-oil-is-headed-to-125/http://www.bloggingstocks.com/2008/04/17/t-boone-pickens-says-oil-is-headed-to-125/#commentsFiled under: , , , ,

The saga of oil in the initial decade of the globalization era continues.

Billionaire energy investor and oil guru T. Boone Pickens Thursday said he has reversed his short position and is now buying oil and he expects the world's most important commodity to hit $125 per barrel, Bloomberg News reported.

``The position is long, not short,'' Pickens told Bloomberg News. ``I covered the short position, it was a mistake on my part. We missed.''

Surging economic growth in emerging markets in Asia and Latin America, along with steady demand in developed markets has increased demand for oil during the last 4 years, and strained oil producers' capabilities to meet that rising demand. Oil is up 82% in the last 12 months and is up an astounding 350% since late 2002. Oil closed Thursday down 7 cents to $114.86 per barrel after hitting a record-high $115.54 earlier in the session.

Continue reading T. Boone Pickens says oil is headed to $125

T. Boone Pickens says oil is headed to $125 originally appeared on BloggingStocks on Thu, 17 Apr 2008 17:41:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Boone Pickensemerging marketsgasolinegasoline pricesInternational Energy Agencyoiloil pricesT. Boone PickensThu, 17 Apr 2008 17:41:00 EST<![CDATA[In surprise, Russia's oil production drops for first time in 10 years]]>http://www.bloggingstocks.com/2008/04/15/in-surprise-russias-oil-production-drops-for-first-time-in-10/http://www.bloggingstocks.com/2008/04/15/in-surprise-russias-oil-production-drops-for-first-time-in-10/http://www.bloggingstocks.com/2008/04/15/in-surprise-russias-oil-production-drops-for-first-time-in-10/#commentsFiled under: , ,

In a report that surprised many sector watchers, Russian oil production fell for the first time in a decade, based on year-over-year basis The Wall Street Journal reported Tuesday (Subscription required).

Russia, the world's second biggest exporter of oil after Saudi Arabia, averaged production of 10 million barrels per day during the first three months of this year -- a 1% drop in production when compared to the same period in 2007, The Associated Press reported Tuesday, citing International Energy Agency data.

Aging infrastructure or aging fields?

Analysts, oil industry executive, and economists will now begin the painstaking process of determining the exact cause of the production shortage. Russia has suffered from electricity shortages and poor weather conditions in oil production zones during the past year. In addition, despite Russia's impressive, 5-year economic boom and related development -- an economic expansion driven to a considerable degree by Russia's oil revenue -- the nation's oil infrastructure remains inadequate and in need of up to $50 billion in improvements and upgrades.

Independent energy trader Jim Dietz said if the current production drop stems from weather problems or infrastructure deficiencies, the oil market will largely overlook the decline, as a temporary dip.

Continue reading In surprise, Russia's oil production drops for first time in 10 years

In surprise, Russia's oil production drops for first time in 10 years originally appeared on BloggingStocks on Tue, 15 Apr 2008 17:51:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsglobal oil demandglobal oil supplyIEAInternational Energy Agencyoiloil pricesOPECRussiaSiberiaTue, 15 Apr 2008 17:51:00 EST<![CDATA[IEA cuts global oil demand growth forecast]]>http://www.bloggingstocks.com/2008/04/11/iea-cuts-global-oil-demand-growth-forecast-by-most-in-7-years/http://www.bloggingstocks.com/2008/04/11/iea-cuts-global-oil-demand-growth-forecast-by-most-in-7-years/http://www.bloggingstocks.com/2008/04/11/iea-cuts-global-oil-demand-growth-forecast-by-most-in-7-years/#commentsFiled under: ,

Global oil demand will increase by considerably less than previously expected in 2008, due to the anemic U.S. economy, which is probably already in recession, and slowing global growth, the International Energy Agency announced Friday.

The IEA lowered its per day global oil demand increase by 460,000 barrels, from 1.76 million to 1.3 million barrels - - its biggest cut to a growth forecast in seven years.

Global oil demand for 2008 is now projected to be 87.2 million barrels per day, the IEA said. Meanwhile, global oil supply for March 2008 totaled 87.3 million barrels per day, due to lower supplies last month from OPEC, the North Sea region, and non-OPEC Africa.

Continue reading IEA cuts global oil demand growth forecast

IEA cuts global oil demand growth forecast originally appeared on BloggingStocks on Fri, 11 Apr 2008 16:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alternative energy sourcesChinaemerging marketsfeaturedIndiaInternational Energy Agencyinthenewsoiloil pricesOPECFri, 11 Apr 2008 16:02:00 EST<![CDATA[IEA cuts 2008 world oil demand forecast on slower global growth]]>http://www.bloggingstocks.com/2008/02/13/iea-cuts-2008-world-oil-demand-forecast-on-slower-global-growth/http://www.bloggingstocks.com/2008/02/13/iea-cuts-2008-world-oil-demand-forecast-on-slower-global-growth/http://www.bloggingstocks.com/2008/02/13/iea-cuts-2008-world-oil-demand-forecast-on-slower-global-growth/#commentsFiled under: , ,

Global oil demand in 2008 will total 87.6 million barrels per day, about 200,000 barrels less than an initial 2008 estimate, due to slowing global economic growth, the International Energy Agency announced Wednesday.

The IEA said demand for transportation fuels in the eastern U.S. and other developed nations is slowing. However, the IEA added that projections for robust economic growth in China and the Middle East will continue to help support oil prices in 2008.

Oil fell 42 cents to $92.36 per barrel in mid-day Wednesday trading.

"Weaker projections for global economic growth are offset by low stocks, forecast cold weather in the U.S. and parts of Asia, supply disruptions (Nigeria/North Sea) and concern about Venezuelan supplies. Products have underperformed crude, leading to weak refining margins," the IEA stated.

Continue reading IEA cuts 2008 world oil demand forecast on slower global growth

IEA cuts 2008 world oil demand forecast on slower global growth originally appeared on BloggingStocks on Wed, 13 Feb 2008 15:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Asiaemergng marketsEuropefeaturedglobal growthglobal oil demandglobal oil supplyGlobalOilDemandGlobalOilSupplyInternational Energy AgencyMiddle EastoilOPECU.S. economyWed, 13 Feb 2008 15:01:00 EST