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Global Oil Production Update: A Strange Future Has Arrived

Gregor, 29 January 2012

Since 2005, European oil consumption has fallen by 1.5 million barrels a day. And, in the same period, US oil consumption has fallen by 2 million barrels a day. If oil was priced at $60 a barrel, rather than $100 a barrel, then a fair portion of that lost demand might return. Instead, since 2005, global crude oil production has been bumping up against a ceiling around 74 million barrels a day. Thus, the tremendous growth in oil demand which emanates from the developing world, in Asia primarily, has been supplied by the reduction of demand in Europe and the United States. Why doesn’t the world simply increase the production of oil to 77, or 78 million barrels a day? After all, that is precisely the history of global oil production: a continual increase in supply to capture the advantage of rising prices.

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The End of Elastic Oil

Forbes, 26 January 2012

The last ten years have brought a structural change to the world oil market, with changes in demand increasingly playing a role in maintaining the supply/demand balance.  These changes will come at an increasingly onerous cost to our economy unless we take steps to make our demand for oil more flexible.

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Spanair collapses, stranding 20,000 people

BBC News, 30 January 2012

Spain's fourth-largest airline Spanair has collapsed, leaving more than 20,000 passengers stranded across Europe and Africa.

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No Closure for Denverӳ Beltway Loop

New York Times, 16 January 2012

Breathes there a soul who really, truly, loves a beltway? Maybe, but you are not likely to find one here in this little city in the Rocky Mountain foothills west of Denver.

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Premier bows to motorists on unleaded fuel

Sydney Morning Herald, 31 January 2012

THE [NSW] state government has caved in to criticism of its decision to ban regular unleaded petrol from July 1, a week after a cabinet leak revealed it had planned to proceed with the ban despite advice it would drive up petrol prices. The Premier, Barry O'Farrell, announced last night that cabinet had agreed to dump the ban, under which regular unleaded was to be replaced by a 10 per cent ethanol blend, E10.

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In Fire Investigation, Regulators Say They Found No Defect in Volt

New York Times, 20 January 2012

Federal safety regulators on Friday closed their investigation into the Chevrolet Volt, saying that they found no evidence of a defect and that plug-in vehicles posed no greater fire risk after a crash than gasoline-powered ones. Still, analysts say that General Motors faces a challenge to rebuild consumer confidence in the car and that related safety concerns could hurt overall acceptance of the growing number of electrified vehicles coming on the market.

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Collision in the Making Between Self-Driving Cars and How the World Works

New York Times, 23 January 2012

Even as Google tests its small fleet of self-driving vehicles on California highways, legal scholars and government officials are warning that society has only begun wrestling with the changes that would be required in a system created a century ago to meet the challenge of horseless carriages.

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A Dearth of Disclosure About Expired Tickets

New York Times, 23 January 2012

WITH income tax time ahead, I’ve been rummaging through drawers for records, which explains why I just came across a slip of paper reminding me of an airline ticket to Seattle that I canceled in late 2010.  Because I didn’t need to rebook that trip, I had forgotten about the ticket. Under standard fare rules, it lost all value in December, a year after purchase.

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Peak oil can fuel a change for the better

Sydney Morning Herald, 11 January 2012

The advent of peak oil means we should prepare for a downscaling of our highly energy and resource-intensive lifestyles.

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India exploring ways of making oil payments to Iran

Calcutta News, 7 January 2012

India is exploring all options to find a way out to make oil payments to Iran as there are chances that Turkey, through which it is making payment, may come under pressure after a fresh round of U.S. sanctions imposed on Iran.
India currently pays Iran about $1 billion every month through Turkey for the 370,000 barrels a day of crude oil it buys from the world's fourth-largest oil producer.

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