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Abandoned well of a different age: do falling oil prices signal the end of oil?

Falling Profits Augur the End of Oil

The profits of the big oil companies keep falling along with the price of a barrel of crude. In 2015, the profits of oil behemoths like Shell, Chevron, Exxon Mobil and BP tumbled. Together, these big four saw profits decline by an average of 65 percent last year. These falling margins have a cascade of impacts that are hastening the…

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A Glass Ceiling on Economic Recovery: Peak Oil in 2014-2015

As per the contention of Peak Oil proponents, the economics of oil supply and demand will act as “a glass ceiling” to economic recovery, hastening demand for alternative energy sources sooner than many expect, according to a new study released by the New Economics Foundation (NEF). “Sustained high oil prices and price spikes will have a significant impact on the…

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House Republicans’ Energy Policy Delusions

House Republicans have been lambasting President Obama, asserting that it’s the president’s “all of the above” energy policy for rising gasoline and fuel prices. Nothing could be further from the truth, as the Obama administration has pointed out that US oil and gas production has actually increased during his first term. Apparently, House Republicans don’t know the basics when it comes to how prices are set in a global oil market, or the dynamics and mechanics of oil exploration and production in the 21st century.