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Peak Oil in the News
Peak Oil News News Saturday September 30th 2006

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Is the world about to run out of oil?
(Rediff) In 1864, a barrel of Pennsylvanian oil traded for 8.06 in dollars of the day ($97.79 of 2004) and in 1980, a barrel of Arabian light (posted at Ras Tanura) sold for 35.69 in dollars of the day ($82.15 of 2004).

Crystal ball needed to predict oil direction
(Business Edge) The world oil market has been a constant source of frustration for economic forecasters of late. Have the laws of economics been rescinded? The short answer is no. The basic facts are straightforward. After plunging to a valley of $10 US per barrel during the global financial crises of the late 1990s, oil recovered to average around $30 during much of the 2000-03 period, except for a brief downward blip in late 2001.

Gas Prices Aren't Cheap, They're Volatile
(AlterNet) Just six weeks ago, gasoline prices at the pump were hovering at the $3 per gallon mark; today, they're inching down toward $2 - and some analysts predict even lower numbers before the November elections.

UN session marks rapidly changing world
(From the Wilderness) Hugo Chavez is nobody’s fool. He knew exactly what he was doing. In the coming months and years US influence can and will only wane. It is said that nature abhors a vacuum. Certainly world politics does.

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