{"id":2913,"date":"2013-09-06T14:29:28","date_gmt":"2013-09-06T13:29:28","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=2913"},"modified":"2013-09-06T14:29:28","modified_gmt":"2013-09-06T13:29:28","slug":"one-thing-we-have-learnt-this-week-political-tensions-and-oil","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=2913","title":{"rendered":"One thing we have learnt this week- political tensions and oil"},"content":{"rendered":"

Political tensions and oil are still an issue.\u00a0 As tensions in the middle east and between Russia and the US have ratcheted up this week, so has the oil price.\u00a0 It hasn’t gone up as much as you would think and some of the rise maybe due to improving economic news, but it still shows for all the talk of “Saudi America” how important the middle east is to world oil and gas supplies.<\/p>\n

As we wrote in “No oil in the lamp”<\/a>;<\/p>\n

“The Middle East holds a critical position in terms of future oil<\/em>
\n supply simply because such a large proportion of the remaining<\/em>
\n global reserves of oil (and gas) are there. On a list of the world\u2019s<\/em>
\n largest oil fields, 28 out of the top 40 are located in the region. (The<\/em>
\n world\u2019s largest, the Ghawar field in Saudi Arabia, was discovered in<\/em>
\n 1948, started producing in 1951, and is still pumping out around<\/em>
\n 5 million barrels per day 60 years later.) The Middle East is also,<\/em>
\n crucially, a place of unresolved conflict over the existence of the<\/em>
\n state of Israel, the position of the Palestinians and their competing<\/em>
\n demands for land and sovereignty. These seemingly insurmountable<\/em>
\n problems remain as a point of tension with the Arab world, and are<\/em>
\n likely to continue to do so whatever political changes take place.<\/em>”<\/p>\n

It seems like gas and electricity prices already expected to rise 5-10% in the UK this Autumn since old coal fired power stations are going off line, are going to rise still further.\u00a0 Even if other countries will not see like us such price increases, we will all see increases in the cost of transport, food and materials. Our book has never looked more relevant.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

Political tensions and oil are still an issue.\u00a0 As tensions in the middle east and between Russia and the US have ratcheted up this week, so has the oil price.\u00a0 It hasn’t gone up as much as you would think … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-2913","post","type-post","status-publish","format-standard","hentry","category-one-thing-we-have-learnt-this-week"],"yoast_head":"\nPolitical tensions and oil are still an issue.<\/title>\n<meta name=\"description\" content=\"Political tensions and oil are still an issue.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=2913\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=2913\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=2913\",\"name\":\"Political tensions and oil are still an issue.\",\"isPartOf\":{\"@id\":\"https:\/\/www.theoillamp.co.uk\/#website\"},\"datePublished\":\"2013-09-06T13:29:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.theoillamp.co.uk\/#\/schema\/person\/b6f2831189b0d01294e9672bb540ba6f\"},\"description\":\"Political tensions and oil are still an issue.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=2913#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.theoillamp.co.uk\/?p=2913\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=2913#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.theoillamp.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"One thing we have learnt this week- political tensions and oil\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/#website\",\"url\":\"https:\/\/www.theoillamp.co.uk\/\",\"name\":\"The oil lamp - 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