Drivers unlikely to see gas prices retreat to levels enjoyed for a generation
The two events, half a world apart, went largely unheralded.
Early this month, Valero Energy in Texas got the unwelcome news that Mexico would be cutting supplies to one of the company’s Gulf Coast refineries by up to 15 percent. Mexico’s state-owned oil enterprise [...]

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A leading global energy monitor fears there may not be enough oil to slake the world’s thirst — and is preparing a landmark forecast that could reverberate through the global economy even as major companies announce fuel-related cutbacks.
The International Energy Agency is studying depletion rates at about 400 oil fields in a first-of-its-kind study of [...]

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The growing thirst for oil in China and India is well known. However, this global surge in demand is being led by oil producers that are emerging as significant consumers, too, undermining their capacity to export when global supplies are tightening.
“Consumption is cannibalising their export capacity,” Jeff Rubin, an oil analyst for CIBC World Markets [...]

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WHEN Ban Ki-moon, the UN secretary-general, was asked to ponder the future of the world before an audience of powerful businessmen and politicians, at a meeting in Switzerland earlier this year, he could have chosen any topic he liked. What he focused on was both a hoary old favourite, and a newly popular preoccupation, of [...]

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