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fig_1d_2010_12 fig_1c_2010_12 fig7_2010_12 fig8_opec_2010_12

Oil Price

Crude oil 2010 vs 2005 (1st quarter)

5 years peak oil. What we have seen so far is the response of the economy and the financial system to oil production on a bumpy production plateau

eia_crude_2010_vs_2005_march

The above graph shows that in the 1st quarter 2010 we are basically back to 2005 production and consumption levels.

But for the same amount of oil, the world pays $25 more per barrel.

fig_1d_2010_03

Remember 2005 was the Katrina year with a sharp drop in production in September and October but production had already peaked in May even before the hurricanes. This year we have the oil spill in the Gulf of Mexico and no idea how events will evolve.

30/5/2010
GOM oil after the US peak
http://www.crudeoilpeak.com/?p=1508

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