US diplomatic cables reveals Saudi oil reserves overstated by 40% – expect price rise
US diplomatic cables released by WikiLeaks warn Washington the Saudi “kingdom’s crude oil reserves may have been overstated by as much as 300bn barrels
Read MoreTag: Peak Oil
Oil reaches $140 per barrel
The price of crude oil was approximately $25 a barrel just prior to the invasion of Iraq. Now we sit at $140 per barrel and the only people benefiting are the oil companies, OPEC and defense contractors. Oil surged to a new...
Read MorePeak oil and $15 per gallon gasoline
More and more are accepting that peak oil has arrived. Robert Hirsch points out the serious impact on an oil based economy, from Rawstory.
Read More