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DrumBeat: December 28, 2008
The Oil Drum - Discussions about Energy and Our Future — Demand for oil will fall by largest margin in 25 years Gloibal demand for oil in 2009 will fall by the largest amount for 25 years, according to the chief energy economist of Deutsche Bank. Adam Sieminski said oil prices could hit a low of $30 a barrel next year, a fall of a quarter from today's price, because of the sickly global economy. He forecast an average price of $47.5 for the whole year for oil traded in New York. Deutsche Bank predicts global demand will contract by 1 per cent, or 1 million barrels a day, three times the fall seen this year and ...

Where Are Oil Prices Headed in 2009?
Earth2Tech — ... The chief energy economist of Deutsche Bank, Adam Sieminski, said recently that the demand for oil in 2009 will drop more than any other time in the last quarter of a century, due to the weak economy. Sieminski forecasts oil traded in New York falling as low as $30 and averaging $47.50 for the whole year. He says higher forecasts haven’t adequately factored in how the global downturn will hurt oil demand. ...

Links 12/29/08
naked capitalism — Storing the Breeze: New Battery Might Make Wind Power More Reliable Scientific American An Eye For An Eye Makes The Whole World Blind Hizoy Fifty Herbert Hoovers Paul Krugman, New York Times Deficit or Depression? Robert Kuttner, Huffington Post. Some good ideas on how to achieve fiscal stimulus quickly. MIght be worth noting if ideas of this sort are prominent in what finally gets passed next year. Demand for oil will fall by largest margin in 25 years Guardian (hat tip reader joe c) Europeans ...