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Crude prices may have peaked but developing countries hold the key

The Independent, 29 May 2008

Could that have been the peak in the oil price? It is such a hostage to fortune to try to call the top of any market that any such suggestion has to be hedged with qualifications and, in this instance, there may well be more peaks in the coming weeks and months. It is probably also true that, unlike in previous oil booms, this one will not be followed by an oil slump.

Gordon Brown doesn’t get the oil crisis

Telegraph, 29 May 2008

Even by the low standards of his [UK] Government, Gordon Brown's recent pronouncements on oil have been surprising. Writing in a national newspaper on Wednesday, he argued that the price of a barrel had soared to $135 because of barriers to production that are "technical, financial and political".

Oil: A global crisis

The Independent, 25 May 2008

The invasion of Iraq by Britain and the US has trebled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices alone.

Burning food: why oil is the real villain in the food crisis

The Guardian, 30 May 2008

The rising cost of foods is widely being blamed on the use of grains for biofuels, and the case for the prosecution is simply made. About 100m tonnes of maize from this year's US crop will be diverted into ethanol refineries, an increase of a third on 2007's figure. This means one in 20 of all cereal grains produced in the world this year will end up in the petrol tank of US cars, the country that is most aggressively increasing the use

Oil price forecasts way off again: ABARE has egg on its face

27 May 2008

The former head of ABARE, Dr Brian Fisher, famously said that, if prices are high enough, roosters will lay eggs. Australian Greens climate change spokesperson, Senator Christine Milne, today said that ABARE now has egg all over its face after another woefully inaccurate oil price forecast, leaving the Australian community scrambling to deal with a fuel price crisis.

Thieves Increasingly Drilling Into Fuel Tanks To Steal Gas

Huffington Post, 27 May 2008

Dale Fortin is getting a new kind of customer at his Detroit auto repair shop, customers who have not just been in a fender-bender or had a windshield smashed by a rock. The soaring price of crude oil has turned gas tanks into a cache of valuable booty, and Fortin has replaced several tanks punctured or drilled by thieves thirsting for the nearly $4-a-gallon fuel inside.

Fuel price debate ignores real issue

The Age, 29 May 2008

Even by the debased standards of political debate in this country, the petty point-scoring between the Opposition and the Government on easing the burden of petrol prices has achieved a new low.

Natural Gas in Pause Mode

New York Times, 29 May 2008

The cost of a gallon of gas gets all the headlines, but the natural gas that will heat many American homes next winter is going up in price as fast or faster. That fact makes the scene in the languid, alligator-infested marshland here in coastal Louisiana all the more remarkable. Only a month after

Going Green, wisely

Canning Times North, 27 May 2008

THE City of Canning is set to stay one step ahead of climate change thanks to a project to be implemented by the Southern Metropolitan Regional Council. The SMRC’s Climate Wise project has received a $49,682 Department of Climate Change grant to implement the Local Adaptation Pathways Program, the Federal Government program to help local governments build

Understanding crude oil prices

Econbrowser, 24 May 2008

How would one go about explaining what oil prices have been doing and predicting where they might be headed next? This paper explores three broad ways one might approach this. The first is a statistical investigation of the basic correlations in the historical data. The second is to look at the predictions of economic theory as to how oil prices should behave over time. The third is to examine in detail the fundamental determinants and prospects