article thumbnail

Opinion: The Current Oil Price Rally Is Reaching Its Limits

Green Car Congress

Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. That has sparked a renewed sense of optimism among oil traders.

article thumbnail

IEA says oil supplies may not keep up with demand

Green Car Congress

The IEA predicts that the world will need to extract an additional 14 million barrels of oil per day (bpd) by 2040, which comes on top of today’s production levels of about 90 million bpd. Instead, much of the world’s hopes are pinned disproportionately on Iraq. Since then, Iraq has been plunged back into a state of war.

Oil 257
article thumbnail

Opinion: Stop Blaming OPEC For Low Prices

Green Car Congress

Instead it pursued a strategy of fighting for market share, contributing to an immediate rout in oil prices. OPEC is widely expected to continue its current strategy at its next meeting, and as such, no rebound in oil prices is expected, at least not because of the results of the group’s meeting in Vienna.

article thumbnail

Cleantech Blog: Smart Grids and Electric Vehicles

Tony Karrer Delicious EVdriven

High-Speed Rail Unlocks Intermodal Potential Texas Excess Ford Expands Hybrid Success to Electric Vehicles ► March (17) Carbon Capture and Storage: To Be or Not To Be? Review of Forestry Carbon Standards 2008 Ford Partners to Commercialize Electric Vehicles A New "Green" Deal.Direction for the economic re. SZ (1) 6753.T

Grid 28