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Readings: Peak oil or Oil peak?, Natural gas, $5000 gold

Posted on June 23, 2008

Barrons: Bye, Bubble? The Price of Oil May Be PeakingU.S. per-capita oil consumption is 25 barrels annually, while Japan uses 14 barrels per person. China s 1.3 billion people consume just two barrels each per year, however, and India s 1.1 billion use less than a barrel a year. In the next decade, oil indeed may hit $200 a barrel.But prices could fall to $100 a barrel by the end of this year if Saudi Arabia makes good on its pledge to increase production; global demand eases; the Federal Reserve begins lifting short-term interest rates; the dollar rallies, and investors stop pouring money...

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