Natural Limits? Was: Re Peter Grimes interview on Indymedia/Marxists economy

dmschanoes dmschanoes at
Sat Nov 8 12:17:37 MST 2003

Some interesting information on changes in oil prices, supply, and
production from OECD's IEA

Brent and WTI crude prices fell more than $4.50 in September from end-August
levels due to weaker gasoline, rising Iraqi supplies, more comfortable
product stocks and refinery maintenance. OPEC’s production target cut
stemmed the decline. WTI ended the month at $29.41/bbl, $2.45 lower than end

 supply and demand:

Since 1987 supply has exceeded demand every year except for 1993


 While Britain's North Sea oil production peaked and 1999 and has
fallen 14%, Norway's has continuously increased and is now double the 1990
level.  Total North Sea output 2001 was less than 2% below the 1999 peak.

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