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Now there are concerns about the supply of oil that Russia has available.
Russian oil production, for years a vital source of new supplies for world markets, is showing signs of a slump, adding to uncertainties that have helped push oil prices to record highs.
The supply of oil coming from Russia falling since the start of 2008 was the first time that had happened in ten years. Russian production averaged about 10 million barrels a day, a 1% drop from the first-quarter of 2007.
This decline in production from the largest producer of oil in the world and one of the top exporting countries has placed more uncertainty into the market which is already having difficulty coping with other issues and adds to the potential for higher prices for a global economy coping with a slowdown.
Gas prices are up six cents in one week and fifty one cents in the past year!. Diesel prices are going up even faster We are looking at an increase of TEN CENTS IN ONE WEEK and $1.18 increase in the last year when we look at Diesel prices .
The fall of the dollar and the various bubbles that are bursting here in the USA have resulted in some reduction in the demand for fuel from the world’s largest fuel consumer. but fast-growing Asia and other places are still adding to demand, and many analysts worry that a global supply pinch later this year could send prices higher. This is especially true since even Saudi Arabian oil output is down from this time last year.
And here in the Western Hemisphere, more problems…
Mexico is having major problems with supply as well at its field in Cantarell.
Cantarell, which currently produces one of every 50 barrels of oil on the world market, is in such a steep decline that many experts foresee Mexico becoming an oil importer in the next decade or sooner. That would batter Mexico's economy, which depends on oil exports to fund 40% of its government spending.
Perhaps the worst news in the oil industry is the lack of good news. It seems to have peaked out as well. And the future for fossil fuels is pretty bleak. Meanwhile, the shift to biofuel is likely to cause ten to twenty million deaths in 2008 from starvation because crops are being grown for fuel instead of food. These are major issues that are not being confronted.
If I just left it at that then this would be one VERY dark and depressing update. . But I won’t. Instead let me inform you about a real solution for the revolution of alternative energy.
WATER4GAS is offering information for a nominal fee which car owners can use in their garage or wherever to create a small gizmo which instills hydrogen into the gasoline/air mixture that their vehicle runs on.
The process makes bite sized particles out of the particles that the system uses as fuel. Therefore the system is able to use considerably more of it.
With WATER4GAS you can reasonably expect to improve your fuel mileage by thirty to fifty percent or significantly more. With W4G gasoline is made usable so you can improve your fuel mileage.
It also helps make emissions significantly cleaner.
This information has been purchased by over NINE THOUSAND people already and happy members number about 99%! So how about you?
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