Daily point

Today, the oil price has reached a new record : 112$ /Barrel !

At the beginning of this blog, the oil price was 107$ /Barrel, so in 2 month the price growth by 5$. So the price don't stop increasing before the end of oil ressources

21 april 2008:
Just one week after the last edition, the oil price increasy by one dollar per day it is today at 117$/ Barrel !

War For Oil ?

An historic study:

Oil and what it represents - energy - have always been a source of conflict.

For example, The Japanese attack on Pearl Harbor had its origins, in part, in a decision by the United States to limit oil exports to Japan in 1941 in response to the Japanese invasion of China.


At that time, Japan was very dependant of the United States production of oil.

Gulf War was an other consequence of the conflicts about oil, in fact, when oil extraction was developed in the 1930s, the strategic value of the region (Arabia Saudit etc..) increased significantly.

An old report of British government discover in January revealed that in 1973 Washington drew up a plan to seize oilfields in Saudi Arabia, Kuwait and Abu Dhabi to counter an Arab oil embargo against the West.

Furthermore, the intervention by the United States and its allies in Kuwait in 1991 was in large part motivated by a need to secure oil and to prevent Saddam Hussein from expanding his access to that.

Hitleer, in 1945, predict that oil will become an important resource and he said that if Germany didn't keep important oil resources they wouldn't be a big force.

Nowadays, countries try to find other energies, for instance Uranium. those countries with uranium would become among the most attractive. The top ten are: Australia, Kazakhstan, Canada, South Africa, Namibia, Brazil, Russia, USA, Uzbekistan and China.

So, energies are very important in today's societies, Yesterday it was "the black gold", but what will be the "gold" of tomorrow ?

War for oil is a cause of oil price increase.

USA, China, Europe oil dependence. the dictature of OPEC ?

"Oil dependence is defined as a dynamic problem of short- and long-run market power."

'The potential monopoly power of an oil cartel depends on its market share and the elasticities of oil supply and demand, while the economic vulnerability of oil-consuming states depends most directly on the quantity of oil imported and the oil cost share of gross domestic product (GDP).'

Those two sentences well resume and define the situation in USA, and in China, and in Europe...

Oil dependence is a danger.

the fact that OPEC still holds the majority of world oil and, in the future, will regain market share is important to highlight.

If a country, if the world doesn't want to suffer a real economic crisis, it's necesary to share the decision making in the global organizations.

there is a real monopoly because OPEC distributes and controls the major part of the oil market.

The control of the oil market is becoming like a dictatureship which is an other cause of the oil price increase.

the growth of oil prices.. and the others ?!

Gas prices hit record on low supplies

Retail gas prices surged to a new record above $3.30 a gallon Friday the 3th of April 2008 !

It's a direct consequence of the rocket in oil prices because, lots of industries try nowadays to use other energies that's why gas is more and more used these days.

It's very important to understand that gas, oil etc.. are in the same situation because stocks aren't unlimited, the demand increases more and more and this has consequences on the prices.

We'd better try to find an energy which could be illimited and not polluting if we want to pay low prices.

Is this idea unrealistic ?

We can hope that's not the case.