Asia : Peril at the Pumps

Queues at filling stations in China, gas rationing in the Philippines, job losses in Indonesia—the global oil-price crunch is starting to get real. Welcome to Oil Shock 2005. With the price of oil on the rise, its effects in Asia, on producers and consumers alike, are everywhere to be seen.

(2005-08-31 14:04:09 SGT) [Energy] Permalink

GM Betting Future on Big Trucks

peakoil.com -> smartmoney.com :

General Motors Corp. (GM) plans to continue to build its U.S. market strategy on the large truck segment, despite high gasoline prices and what appears to be softening demand for large SUVs. The auto maker plans to launch a new line of full-size trucks and SUVs in 2006, which will play in a market becoming crowded with competitive entries from cross-town rivals and foreign auto producers.

- An attempt to win a corporate Darwin Award? Aiming for DDD bond ratings? :|

(2005-08-31 13:29:34 SGT) [Biz] Permalink

Tuesday August 30, 2005

Petrol watching

Strange things are likely to start happening to the world economy when crude oil prices go over $80 per barrel (the inflation-adjusted price in the midst of the 1970's oil crisis), but things are already moving along now that the $70 barrier has been breached. Well, that was yesterday, when I received a Yahoo IM from lynntan at about 10 in the morning : "crude oil high at USD70.80."

Today, the oil majors over here have reacted : plastered all over the front page of the Straits Times, Singapore's national newspaper, is the headline "Petrol soars to $2 a litre as oil output is hit". Sorry, no link - the website became subscription-only months ago.

The Americans have their psychological level (US $3 per gallon gas). Looks like Singaporeans have our own level as well (S$2 per litre petrol). And so, we have arrived at this point, where people start to think, "hey, oil is sure getting really expensive".

Former colleague jotsze sent a link to www.petrolwatch.com.sg - it's a pretty new site that tracks the latest petrol prices in Singapore. Drivers may like to keep an eye on this page, especially the news section. Me, I'm just lucky this time - topped up the fuel tank last Friday before the price hikes. And yes, more eco-driving is definitely in order.

The forummers, are as expected, up in arms over the price rises. I do wonder, when will the masses start to pick up on the "peak oil" concept? Perhaps when $4 per litre petrol starts to do some real damage - both to the wallets and the economy. In the meantime, officially, let's put the blame on Katrina.

(2005-08-30 13:21:59 SGT) [Energy] Permalink

Monday August 29, 2005

$70.80

reuters.com :

Oil prices surged to a record above $70 a barrel on Monday as one of the biggest hurricanes in U.S. history churned through the Gulf of Mexico, home to a quarter of U.S. oil and gas production. U.S. crude oil futures jumped nearly $5 a barrel in opening trade to touch a peak of $70.80 a barrel, the highest front month price since the New York Mercantile Exchange (NYMEX) began trading contracts in 1983.

See also :

1. $68.00
2. $67.10
3. $65.20

(2005-08-29 19:07:50 SGT) [Energy] Permalink

Saturday August 27, 2005

The Silent Oil Crisis

peakoil.com -> powerswitch.org.uk

The 25th August 2005 saw the price for a barrel of oil pass $68, just $12 from that high. Somehow strong Western economies have shrugged these prices off and we are left asking whether anything has really changed for the major industrial economies so dependent on cheap oil?

So maybe everything is fine until that $100 barrel mark. People talk of an oil crisis, but surely, since we are waiting for the $100 barrel, there is nothing to worry about. Right? Wrong. Around the world, silent to us, the oil crisis has truly begun. They are at the beginning of what some are calling 'The Great Decline'.

Just as rising sea levels threaten to flood low-lying lands unable to protect themselves, rising oil prices threaten countries with weak (low-lying) economies. Rising oil prices are a rising tide, and there are many examples to look at.

The signs of an oil crisis are already here in the UK, in Europe and also in the US, even if is still too inaudible to be heard as a serious warning by the general public. However, France's prime minister, Dominique de Villepin is already giving that very warning when he told a news conference on the 16th August 2005 that, "This crisis, we know, is likely to last. All the factors have come together for oil to remain expensive in the years and decades to come," he said.

(2005-08-27 23:43:00 SGT) [Energy] Permalink

Eco-Driving

peakoil.com -> fcnp.com :

If you are not yet ready for eco-driving, you will be soon. Once gasoline reaches five dollars or more per gallon, drivers will have only one concern about their vehicles' performance: "How do I get the most distance out of this tank of gas for which I just paid so dearly?" Performance, acceleration, speed limits, radar detectors, speeding points and all the other concerns that grew out of cheap oil will disappear before the altar of miles-per-gallon. This is where eco-driving (getting the most out of each gallon) comes in.

The basic principle of eco-driving is a lot of gasoline and diesel fuel can be saved just by being very, very careful about when and how hard we push on the gas pedal. Most authorities say a 10% to 15% saving in fuel consumption is easy and that higher is possible with some special efforts.

In Europe, a whole eco-driving culture has grown up with formal classes, on-the-road training, and eco-driver certificates. Many European trucking companies require their drivers to be eco-certified and monitor their fuel consumption.

See also :

1. The golden rules of ECO-DRIVE style of driving (ecodrive.org)
2. Eco-Driving and Driving Behavior (cleanairwisconsin.org)
3. Ten top tips to reduce the impact of the car journey (carclubs.org.uk)
4. Environmentally Friendly "Eco-Driving" Tips (ford.com)

(2005-08-27 23:32:22 SGT) [Energy] Permalink

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