Some people who know me don’t believe it, but as a child I wasn’t interested in international politics. But, like most people in Britain in the 1970s, I knew the name of the Saudi oil minister, because he was a household name. Ahmed Zaki Yamani, known in the West as Sheikh Yamani, was the oil… Continue Reading
Tag Archives: oil
Should oil companies invest in renewable electricity?
Oil and gas companies have few skills that are transferable to electricity generation and risk wasting a lot of their shareholders’ money. * “Peak oil” used to refer to supply but in recent years has come to mean the year when global oil demand peaks and then starts to fall. Few people now seriously dispute… Continue Reading
The oil price and short and long run supply
The biggest topic in the global economy remains the oil price. It’s notoriously difficult to forecast commodity prices but how can we make sense of what would push the price up or down? A basic demand and supply framework gets us quite a long way * A market consists of demand, supply and some mechanism… Continue Reading