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DrumBeat: May 16, 2008

Posted on May 16, 2008

The Peak Oil Crisis: DieselThe evidence is mounting that the U.S. might just encounter the first real crisis of the oil depletion age before the year is out.The crisis at first will be one of spiraling prices for diesel and heating oil, followed by actual shortages here in the United States. In the last two weeks, the wholesale price of heating oil has moved up by nearly 70 cents a gallon and no end is in sight. Many observers are starting to note that what they call a tight market for distillates - the industry s term for diesel and heating oil may be what is driving up the pri...

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