The IEA has now publicly released their June figures for total liquid fuel supply and so I can update my graphs accordingly. As you can see, June shows a downtick which adds to the overall impression that supply has been at best flat throughout 2012.
This combines with the very sharp drop in oil prices in June:
The overall impression continues to be that the global economy is faltering (meaning that even though supply is not rising, demand, or perceived demand, is lower than supply).
2 comments:
The racist age old question of whos gunna ride on the back of the bus haunts us today whether we like it or not oil is running out and soon we will need to make a change. That change if we are smart will come in the form of public transportation on wire cars (like the old street cars) I fear the worst if we do not take a step within the next year of addopting that technology and perfecting it.
Since february you didn't make the crossover between price and global fuel production. Please do it again!! It was great!!!
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