Oil demand could reach peak, oil prices could fall

October 21, 2013 By Luis Fierro - 0 Comments

By Luis Fierro Carrión (A Spanish version of this article was written for Revista Gestión of Ecuador)   For several decades, some environmentalists and critics of the oil industry have warned that oil production could reach a "peak", due to - supposedly - its over-exploitation and decrease in reserves.  This "peak oil" phenomenon, however, has never materialized, and production has been increasing steadily, from 15 million barrels per day (mbd) in 1950, to about 60 mbd in 1980 ...

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FAQ on the government shutdown

October 1, 2013 By Luis Fierro - 0 Comments

What happened?   The federal government entered into a shutdown today (October 1, 2013).  This affects non-essential services.  Approximately 800,000 federal employees have been furloughed (leave without pay).  Other essential employees will continue to work, although only military personnel have their pay guaranteed (other essential personnel will likely receive retro-active pay).   Will this affect postal service?   No.  Only federal government services that are financed through what is deemed "discretionary spending" ares affected.  The postal service ...

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