Oil price increases of 2004 and 2005

Oil price in 2003-2005 Average US retail price of regular unleaded gasoline Oil prices from 1860-1999 in 1999 dollars. Source: [1]

The price of standard crude oil on NYMEX was under $25/barrel in September 2003. By August 11, 2005, the price had been above $60/barrel for over a week and a half. A record price of $70.85 per barrel was reached on August 29, 2005.[2] While oil prices are considerably higher than a year ago, they are still roughly 25$ from exceeding the inflation-adjusted "peak of the 1980 shock, when prices were over $90 a barrel in today’s prices" [3].

In the United States gasoline prices reached an all time high during the first week of September 2005 in the aftermath of Hurricane Katrina. The average retail price was nearly $3.04 per gallon. The previous high was $2.38 per gallon in March 1981, which would be $3.03 per gallon after adjusted for inflation.[4][5]

Demand

High demand is led by the U.S. market, the source of an increasing percentage of the world's demand for petroleum. The U.S. economy currently accounts for one-quarter of all demand. New demand is also coming from emerging industry in third world nations, including India and especially China which is developing a western-style car culture and whose manufacturing bases have grown very rapidly in recent years.

Sources of the world-consumption-increase in 2004 compared to 2003 (total increase of 3.4%), according to U.S. Department of Energy Energy Information Administration estimates: [6]

  • China: 38.9%
  • US: 19.4%
  • Asia outside Japan and China: 13.8%
  • Canada: 4%
  • UK: 3.5%
  • combined other non-OECD: 21%

Note: the total percentage exceeds 100 because the overall demand from all other countries decreased during the same period..

Supply


There are a number of reasons why oil traders feel that oil supplies might be reduced. One of the most important is growing turbulence in the Middle East, the world's largest oil producing region. The war in Iraq, Iran's nuclear program, and questions about Saudi Arabia's internal stability all could in the future lead to a dramatic fall in the supply of oil. Outside the Middle East other oil producers have worried investors such as the strikes political problems in Venezuela and potential instability in West Africa.

In late August, 2005, Hurricane Katrina crippled the supply-flow from off-shore rigs in the Gulf Coast, the largest source of oil for the domestic U.S. market. Short-term shutdowns because of power outages knocked out two major on-shore pipelines, and at least 10% of the nation's refining capacity was not operating in the wake of the storm. Gas prices in the region, normally 70 cents below the national average, were at $3.12 on August 30.[7]

World supply (specification) came in at 83 million barrels a day during 2004 in department of energy EIA calculations ([8]). This rate of increase is faster than that of any other date in the past. Despite this there is increasing discussion of peak oil and the possibility that the future may see a reduced supply of oil. Even if oil supplies themselves are not reduced, some experts feel the easily accessible sources of light sweet crude are almost exhausted and in the future the world will depend on more expensive sources of oil.

The short term price of oil is partially controlled by the OPEC cartel and the oligopoly of major oil companies. One other important cause is the United States dollar's slump against the Euro. Since oil is traded in dollars, the price must increase for OPEC to maintain buying power in Europe.

Causes

Some people and news agencies argue that labor strikes, hurricane threats to oil platforms, fires and terrorist threats at refineries, and other general problems are responsible for the higher gas prices. Critics argue that these problems periodically push price higher, but that they are not fundamental or long term enough to cause the large jump in gas price. A more fundamental problem that some believe is causing the price to rise is the probability of peak oil already or soon to be reached. Not only is there a limited amount of fossil fuels which have been burnt as fuel, but however much remains will be used faster by a growing industrialized world population and what remains will be more dificult to get since the easiest wells have been tapped and the remaining sources will be fought over in resource wars.

Others believe that the price of oil is almost entirely speculative, and that the increase in price is due to oil speculation extending into the long term. These people argue that speculators foresee increasing demand, decreasing supply, or both, leading to a long term increase in the price of oil. If these speculators are wrong, current prices may actually be a price bubble, and the price could thus collapse. A July 14, 2005 Morgan Stanley report[9] suggests that opinions of the oil market could burst just like a bubble if indications of declining Asian demand continue.

Still others suggest that the main issue is a lack of energy efficiency in industry. These analysts believe the problem would be solved by increasing the efficiency of factories, homes and transportation and easing the demand crunch by using less energy and more renewable energy.

Spring & Summer 2005 increase

Overnight gas price hike shown at a Chicago area bp station (background). The Shell station (foreground) has not yet posted the 12 cent price hike.

After retreating for several months during the winter of 2004/2005, prices rose to new highs in March 2005. The price of light, sweet crude oil on NYMEX has been above $50/barrel since March 5, 2005. On March 16, 2005, the price surpassed the October 2004 high of $55.17 to close at $56.46. In April 2005 the price began to fall, reaching $53.32 on April 9. It then reversed course and headed to an all time high of $58.28, driven mainly by lingering concerns of a prolonged weak dollar. In June 2005 crude oil prices surged to record highs eventually breaking the psychological barrier of $60.

Saudi Arabian King Fahd's death on August 1, 2005, meant a new regime that may be less amicable to U.S. influence. During mid-August, with a string of refinery snags (fires/other deterrents to oil refining), shrinking gasoline inventories, and a growing thirst for oil by American consumers, New York Mercantile Exchange traded crude oil futures surged past the $66 mark and briefly touched $67/barrel. Over the course of three weeks leading up to August 10, crude oil prices had risen by 13%.

While the street price of gasoline usually corresponds to the price of crude oil, refinery capacity can become the governing factor, particularly during periods of high demand. In addition, there are different grades of oil and each refinery is typically configured to process a narrow range of grades. As a result, shortage of a particular grade of oil can keep street prices high, even when overall supply exceeds demand.

Winter 2006 increase

On January 17, sweet crude oil for February delivery rose by $2.38 (3.7%) to $66.30 a barrel. This was the highest increase since early October 2005. Observers believe that violence in Nigeria, and Iran's friction with the West are responsible for this price increase. Continued concerns about Iran raised the price to $68.38 on January 31.[10]

This section is a stub. You can help by adding to it.

Hurricane Katrina

Gas price hike shown at a Shell station.

Hurricane Katrina had a major impact on oil and gas prices, especially within the United States. The Gulf Coast is home to a major portion of America's refining capacity. The port of Louisiana is one of its most important inlet for oil imports, and the gulf itself is a major oil producer. Port Fourchon has also suffered long term damage. Louisiana Offshore Oil Port has not. [11]

Gas prices soared after the closing down of the major pipelines connecting the gas of the Louisiana region to the entire East Coast. In Stockbridge, Georgia, regular gas prices came to $5.87 at a BP station. Shortages were feared or experienced in several states including Tennessee [12], Alabama [13], and South Carolina. [14] Many of these were blamed on panic buying. Airports began to report shortages in aviation fuel on 2 September.[15] A shortage could lead to a decrease in food production.[16] Higher prices for heating oil and natural gas were expected as the winter heating season set in.[17]

On 5:10 p.m. EDT, on 31 August, President Bush announced the Energy Department was approving loans from the Strategic Petroleum Reserve and that EPA announced nationwide waver on fuel blends. Bush stated, "This storm has disrupted the ability to make gasoline and deliver gasoline," and "This is going to be a difficult road."[18] Many people have observed however that stores of crude oil do little to address inadequate refinery and distribution capacity.

In order to stabilize world energy supplies, the International Energy Agency offered to sell two million barrels of crude oil and other refined products from national supplies. These supplies would begin entering the US markets within two weeks of 2 September. [19] [20] The press release from the IEA states, "... the implications for the oil market are global."[21]

Effects

There is controversy regarding the potential effects of oil-price shocks. Some see these increases in the price of oil leading to a recession comparable to those that followed the 1973 and 1979 energy crises or a potentially worse situation such as a global oil crash. Most economists see this as unlikely, partly because all developed countries have high fuel taxes that decrease as oil prices increase and can be eliminated in the event of a dramatic price spike. Nevertheless, that loss of revenue would put a strain on government balance sheets. The American Strategic Petroleum Reserve could on its own supply current U.S. demand for about a month in the event of an emergency, unless it is also destroyed in the emergency. This could well be the case if a major storm were to hit the gulf, where the reserve is located. While total consumption has increased [22], the western economies are less reliant on oil than they were twenty-five years ago, due to substantial growths in productivity. In the United States, for instance, each $1000 dollars in GDP required 2.4 barrels of oil in 1973 when adjusted for inflation this number had fallen to 1.15 by 2001. But oil's historically high ratio of Energy Returned on Energy Invested continues a significant decline. Despite the rapid increase in the price of oil, neither the stock markets nor the growth of the global economy have been noticeably affected. Inflation has increased. In the United States, the Consumer Price Index rose by 0.6% compared to 0.2% for September. This was driven by a 4.2% increase in energy costs. As a result during this period the Federal Reserve has rapidly been increasing interest rates to curb inflation.

Economists say that the substitution effect will spur demand for alternate energy sources, such as coal or liquified natural gas. For example, China and India are currently heavily investing in natural gas facilities. Nigeria is working on burning natural gas to produce electricity instead of simply flaring the gas. Outside the US, more than 50% of oil is consumed for stationary, non-transportation purposes such as electricity production where it is relatively easy to substitute natural gas for oil.

The increased price of oil also makes previously impractical sources of oil attractive to businesses. The most prominent example of this are the massive reserves of the Canadian tar sands. They are a far less cost efficient source of oil than crude, but at 60 dollars a barrel, the tar have recently become very attractive to businesses. Recent months have seen billions of dollars invested in the oil sands.

The increased price of oil might also encourage greater fuel efficiency. Recent years have seen a move towards more fuel-thirsty sport utility vehicles in the United States and Canada, and this may be stopped by the high price of gas. The September 2005 sales data for all the vehicles vendor indicated SUV sales dropped while small cars sales increased compared with 2004 sales. There is also an ever increasing market for hybrid vehicles since they are more fuel efficient; since the 1973 energy crisis, the front-wheel drive passenger car has replaced rear-wheel drive as the preferred layout for energy efficient cars. There is an increasing demand of crossover sport utilities which are more fuel efficient - especially for those based on passenger car platforms.

USA Stock markets

Three-year performance of the oil industry... ...and one-month performance.

The increase in oil prices over two years was mirrored by an increase in stock values in the energy sector. The value of the stock in companies such as Apache[23] and Conoco-Phillips [24] rose sharply during this period. These prices increased more rapidly toward the end of August, particularly after Hurricane Katrina. [25]

Wal-Mart shares continued their decrease in value that began with the increase in the oil prices. Over two years, stock in Wal-Mart dropped in value by 25% from $60 per share to under $45 per share. [26] Earlier in August, Wal-Mart announced that higher than expected oil prices cut into the corporation's profits for the 2nd quarter of 2005. Since oil prices after the end of the 2nd quarter continued to rise, 3rd quarter profits from Wal-Mart are expected to be small. Because Wal-Mart's distribution system relies on the customer to drive to a large discount big-box store, increases in the price of fuel might discourage some customers from making the trip as often. Wal-Mart, like all retailers, will also face higher shipping costs to get goods from the factory to the stores. This will likely cause inflationary pressures.

Asia Pacific Region (excludes Australasia)

The Pacific rim had been experiencing this crisis on an ongoing basis prior to Hurricane Katrina.

  • In the Philippines, the oil crisis caused its public to call for immediate government assistance. [27] New sources of energy were sought to deal with the crisis.[28]
  • A senior minister of Singapore expressed concern at the oil crisis in Indonesia.[29]
  • The Indonesian president had instituted subsidies to control the price of gasoline.[30]


Sub-Saharan Africa

High oil prices are hurting many countries in Africa, including Zimbabwe, Eritrea and Tanzania. High oil prices have created an oil supply instability, per barrel price instability or both. In some cases this has led to fuel rationing being enacted.

  • Many countries in Sub-Saharan Africa lack the foreign exchange reserves (ie, Dollars) to purchase enough oil products at the ever increasingly higher prices. These nations must resort to limiting imports or rationing their existing supplies.

Latin America & Caribbean

Venezuela's president, Hugo Chávez, came under increasing scrutiny as he began selling oil at lower-than-market prices to island nations in the Caribbean. [31]

  • At the same time, Cuba has experienced electricity shortages.

Gulf States & Eurasian Arab-Islamic Regions

Iran came under increasing pressure from the European Union in regard to their program to build nuclear power plants.[32]


This page about gas prices includes information from a Wikipedia article.
Additional articles about gas prices
News stories about gas prices
External links for gas prices
Videos for gas prices
Wikis about gas prices
Discussion Groups about gas prices
Blogs about gas prices
Images of gas prices

Iran came under increasing pressure from the European Union in regard to their program to build nuclear power plants.[32]. It was titled The Roar of Love. [31]. A musical retelling of the The Lion, the Witch and the Wardrobe was released in 1980 by Contemporary Christian group 2nd Chapter of Acts. Venezuela's president, Hugo Chávez, came under increasing scrutiny as he began selling oil at lower-than-market prices to island nations in the Caribbean. The movie achieved critical and box office success, and it seems likely that Disney will produce a sequel The Chronicles of Narnia: Prince Caspian with an expected release date of December 2007. In some cases this has led to fuel rationing being enacted. Principal photography for the film took place in Poland, Czech Republic and New Zealand.

High oil prices have created an oil supply instability, per barrel price instability or both. The screenplay was written by Ann Peacock. High oil prices are hurting many countries in Africa, including Zimbabwe, Eritrea and Tanzania. It was directed by Andrew Adamson.
. A film version of The Lion, the Witch and the Wardrobe, titled The Chronicles of Narnia: The Lion, the Witch and the Wardrobe, produced by both Walt Disney Pictures and Walden Media, was released in December 2005. The Pacific rim had been experiencing this crisis on an ongoing basis prior to Hurricane Katrina. Adaptations were created by Irita Kutchmy [6]; Jules Tasca, Thomas Tierney & Ted Drachman[7]; Adrian Mitchell[8]; Joseph Robinette[9]; and Aurand Harris[10].

This will likely cause inflationary pressures. There are also other dramatisations including musicals of The Lion, the Witch and the Wardrobe and The Magician's Nephew that have been performed in various community playhouses in recent years. Wal-Mart, like all retailers, will also face higher shipping costs to get goods from the factory to the stores. Dramatized by Adrian Mitchell and originally directed by Adrian Noble with revival directed by Lucy Pitman-Wallace, the production was well received and ran during the holiday season from 1998 to 2002.[5] The London Evening Standard wrote:. Because Wal-Mart's distribution system relies on the customer to drive to a large discount big-box store, increases in the price of fuel might discourage some customers from making the trip as often. In 1998 the Royal Shakespeare Theatre premiered The Lion, the Witch and the Wardrobe. Since oil prices after the end of the 2nd quarter continued to rise, 3rd quarter profits from Wal-Mart are expected to be small. From the Focus on the Family website:.

[26] Earlier in August, Wal-Mart announced that higher than expected oil prices cut into the corporation's profits for the 2nd quarter of 2005. Lewis, hosts the series. Over two years, stock in Wal-Mart dropped in value by 25% from $60 per share to under $45 per share. Douglas Gresham, the stepson of C.S. Wal-Mart shares continued their decrease in value that began with the increase in the oil prices. Total running time is slightly over 22 hours. [25]. Production included a cast of over 100 actors, an original orchestral score and cinema-quality digital sound design.

These prices increased more rapidly toward the end of August, particularly after Hurricane Katrina. Between 1999 and 2002 Focus on the Family produced radio dramatizations of all 7 books[4]. The value of the stock in companies such as Apache[23] and Conoco-Phillips [24] rose sharply during this period. Collectively titled Tales of Narnia it covers the entire series and is approximately 15 hours long. The increase in oil prices over two years was mirrored by an increase in stock values in the energy sector. The critically acclaimed BBC Radio 4 dramatization was produced in the 1980s. There is an increasing demand of crossover sport utilities which are more fuel efficient - especially for those based on passenger car platforms. The four miniseries were later edited into three feature-length films (combining Prince Caspian and The Voyage of the Dawn Treader) and released on DVD.

There is also an ever increasing market for hybrid vehicles since they are more fuel efficient; since the 1973 energy crisis, the front-wheel drive passenger car has replaced rear-wheel drive as the preferred layout for energy efficient cars. Only The Lion, The Witch and The Wardrobe, Prince Caspian, The Voyage of the Dawn Treader, and The Silver Chair were filmed. The September 2005 sales data for all the vehicles vendor indicated SUV sales dropped while small cars sales increased compared with 2004 sales. They were nominated for a total of 14 awards, including an Emmy in the category of Outstanding Children's Program. Recent years have seen a move towards more fuel-thirsty sport utility vehicles in the United States and Canada, and this may be stopped by the high price of gas. The Chronicles of Narnia were turned into a series of successful BBC television miniseries in 1988–1990 (see The Chronicles of Narnia (TV miniseries)). The increased price of oil might also encourage greater fuel efficiency. It won the Emmy award for Outstanding Animated Program that year.

Recent months have seen billions of dollars invested in the oil sands. Connell. They are a far less cost efficient source of oil than crude, but at 60 dollars a barrel, the tar have recently become very attractive to businesses. The screenplay was by David D. The most prominent example of this are the massive reserves of the Canadian tar sands. It was a co-production of Bill Melendez (Charlie Brown) and the Children's Television Workshop (Sesame Street and The Electric Company). The increased price of oil also makes previously impractical sources of oil attractive to businesses. The Lion, the Witch and the Wardrobe was turned into an animated television special in 1979.

Outside the US, more than 50% of oil is consumed for stationary, non-transportation purposes such as electricity production where it is relatively easy to substitute natural gas for oil. Unlike subsequent adaptations, it is currently unavailable to purchase for home viewing. Nigeria is working on burning natural gas to produce electricity instead of simply flaring the gas. The screenplay was written by Trevor Preston. For example, China and India are currently heavily investing in natural gas facilities. The ten episodes, each thirty minutes long, were directed by Helen Standage. Economists say that the substitution effect will spur demand for alternate energy sources, such as coal or liquified natural gas. The Lion, the Witch and the Wardrobe was first turned into a television series in 1967.

As a result during this period the Federal Reserve has rapidly been increasing interest rates to curb inflation. Narnia itself is populated by a wide variety of creatures most of whom would be recognizable to those familiar with Roman/Norse mythology and Irish/English fairy tales. This was driven by a 4.2% increase in energy costs. Visitors to Narnia observe that the passage of time while they are away is unpredictable. In the United States, the Consumer Price Index rose by 0.6% compared to 0.2% for September. Passage between these worlds is possible though rare and may be accomplished in various fashions. Inflation has increased. The Narnian world itself is one world in a multiverse of countless worlds including our own.

Despite the rapid increase in the price of oil, neither the stock markets nor the growth of the global economy have been noticeably affected. Most of The Chronicles of Narnia take place in the world of Narnia. But oil's historically high ratio of Energy Returned on Energy Invested continues a significant decline. According to Jacobs, "Those who dislike Christianity itself can be far more harsh: Thus the English novelist Philip Hensher chastised Lewis a few years ago because his books 'corrupt the minds of the young with allegory,' and suggested (only half-jokingly, I think) that parents should give their children 'Last Exit to Brooklyn' to read rather than a Narnia tale.". In the United States, for instance, each $1000 dollars in GDP required 2.4 barrels of oil in 1973 when adjusted for inflation this number had fallen to 1.15 by 2001. Some of the criticism may be related to Narnia's Christian content. While total consumption has increased [22], the western economies are less reliant on oil than they were twenty-five years ago, due to substantial growths in productivity. Read the stories, ask questions, and remember that the person who wrote this story was altogether too human.".

This could well be the case if a major storm were to hit the gulf, where the reserve is located. We don't. demand for about a month in the event of an emergency, unless it is also destroyed in the emergency. O'Connor writes, "In his time, people thought it was amusing to make fun of other cultures. The American Strategic Petroleum Reserve could on its own supply current U.S. Tolkien and Charles Williams remained popular over such a long period of time suggests to some that many of the criticisms which have been voiced are minority views, not thought to be significant by the reading public. Nevertheless, that loss of revenue would put a strain on government balance sheets. The fact that Lewis and other similar-minded contemporaries such as J.R.R.

Most economists see this as unlikely, partly because all developed countries have high fuel taxes that decrease as oil prices increase and can be eliminated in the event of a dramatic price spike. Lewis supporters point to the fact that Lewis writings have a particularly British Victorian era flavour that was much in fashion during his lifetime, but that may be seen as politically incorrect nowadays. Some see these increases in the price of oil leading to a recession comparable to those that followed the 1973 and 1979 energy crises or a potentially worse situation such as a global oil crash. B14). There is controversy regarding the potential effects of oil-price shocks. (Nelson 2005, pp. the implications for the oil market are global."[21]. In The Last Battle, the Calormene Emeth is accepted by Aslan although he is a worshiper of Tash.

[19] [20] The press release from the IEA states, ".. In The Horse and His Boy, one of the main characters, Aravis, is a female Calormene princess that ends up marrying an Archenlander prince of white ethnicity. These supplies would begin entering the US markets within two weeks of 2 September. There are Calormene characters portrayed in a positive light throughout the series. In order to stabilize world energy supplies, the International Energy Agency offered to sell two million barrels of crude oil and other refined products from national supplies. The Calormenes worship a main "false god" Tash, who is portrayed as a stereotypical Satanic being requiring evil deeds and sacrifices from his followers. Bush stated, "This storm has disrupted the ability to make gasoline and deliver gasoline," and "This is going to be a difficult road."[18] Many people have observed however that stores of crude oil do little to address inadequate refinery and distribution capacity. This depiction has been cited as a blatant comparison to the traditional attire of Islam and Sikhism, although critics ignore the fact that the polytheistic Calormene religion bears no resemblance to Islam.

EDT, on 31 August, President Bush announced the Energy Department was approving loans from the Strategic Petroleum Reserve and that EPA announced nationwide waver on fuel blends. The Calormenes are described as dark-skinned people who wear turbans and pointy slippers and are armed with scimitars. On 5:10 p.m. The racism critique is based on a perceived negative representation of other races and religions, particularly the Calormenes, as enemies of Aslan and Narnia (Hensher 1998). Airports began to report shortages in aviation fuel on 2 September.[15] A shortage could lead to a decrease in food production.[16] Higher prices for heating oil and natural gas were expected as the winter heating season set in.[17]. He writes:. [14] Many of these were blamed on panic buying. In addition to the sexism accusation, Pullman has also implicated The Chronicles of Narnia series in fostering racism.

Shortages were feared or experienced in several states including Tennessee [12], Alabama [13], and South Carolina. (Anderson 2005), (Rilstone 2005), (Jacobs 2005). In Stockbridge, Georgia, regular gas prices came to $5.87 at a BP station. It is asserted that Lucy is the most admirable of the human characters, and that in general the girls come off better than the boys through the stories. Gas prices soared after the closing down of the major pipelines connecting the gas of the Louisiana region to the entire East Coast. They also cite the positive roles of women in the series, like Lucy Pevensie and Aravis Tarkheena, who are main characters in the The Lion, the Witch and the Wardrobe and The Horse and His Boy, respectively. [11]. Moreover, in The Horse and his Boy, Susan's adulthood and sexual maturity is portrayed in a positive light.

Louisiana Offshore Oil Port has not. But others oppose this view, arguing that the "lipsticks, nylons and invitations" quote is taken out of context and that Susan is excluded from Narnia in The Last Battle specifically because she no longer believes in it. Port Fourchon has also suffered long term damage. Philip Pullman author of the His Dark Materials trilogy, interprets it this way:. The port of Louisiana is one of its most important inlet for oil imports, and the gulf itself is a major oil producer. Rowling, author of the Harry Potter series, has said:. The Gulf Coast is home to a major portion of America's refining capacity. J.K.

Hurricane Katrina had a major impact on oil and gas prices, especially within the United States. Lewis characterizes Susan as being "no longer a friend of Narnia" and interested "in nothing nowadays except lipstick, nylons and invitations". Continued concerns about Iran raised the price to $68.38 on January 31.[10]. Allegations of sexism centre around the description of Susan Pevensie in The Last Battle. Observers believe that violence in Nigeria, and Iran's friction with the West are responsible for this price increase. Lewis and the Chronicles of Narnia series have received various criticisms over the years, much of it by fellow authors. This was the highest increase since early October 2005. C.S.

On January 17, sweet crude oil for February delivery rose by $2.38 (3.7%) to $66.30 a barrel. In addition to appearances in mainstream pop-culture, references to Narnia are even more prevalent among Christian recording artists — for example, the Christian melodic metal band Narnia. As a result, shortage of a particular grade of oil can keep street prices high, even when overall supply exceeds demand. Recently, Chris Parnell and Andy Samberg from Saturday Night Live did a skit where they rapped about a trip to see The Lion, The Witch, and The Wardrobe at a movie theater. In addition, there are different grades of oil and each refinery is typically configured to process a narrow range of grades. References to the lion Aslan, travelling via wardrobe, and direct references to The Chronicles of Narnia occur in books, television, songs, games and graphic novels. While the street price of gasoline usually corresponds to the price of crude oil, refinery capacity can become the governing factor, particularly during periods of high demand. As one would expect with any popular, long lived work, references to The Chronicles of Narnia are relatively common in pop-culture.

Over the course of three weeks leading up to August 10, crude oil prices had risen by 13%. The story uses several Narnian allegories to explore issues of religion and faith versus science and knowledge. During mid-August, with a string of refinery snags (fires/other deterrents to oil refining), shrinking gasoline inventories, and a growing thirst for oil by American consumers, New York Mercantile Exchange traded crude oil futures surged past the $66 mark and briefly touched $67/barrel. Science fiction author Greg Egan's short story 'Oracle' depicts a parallel universe with an author nicknamed "Jack" who has written novels about the fictional Kingdom of Nesica, and whose wife is dying of cancer. influence. Additionally, Gaiman's Sandman graphic novel series, in its story arc entitled "A Game of You", features a Narnia-like "dream island". Saudi Arabian King Fahd's death on August 1, 2005, meant a new regime that may be less amicable to U.S. The short story The Problem of Susan[3] written by Neil Gaiman tells the story of Susan Pevensie long after the conclusion of Lewis' series (available in Flights: Extreme Visions of Fantasy edited by Al Sarrantonio).

In June 2005 crude oil prices surged to record highs eventually breaking the psychological barrier of $60. Pullman's series favours science and reason over religion, wholly rejecting the themes of Christian theology which permeate the Narnia series, but has many of the same issues, subject matter, and types of characters (including talking animals) as the Chronicles of Narnia. It then reversed course and headed to an all time high of $58.28, driven mainly by lingering concerns of a prolonged weak dollar. A more recent British series of novels, Philip Pullman's His Dark Materials, has been seen as an "answer" to the Narnia books. In April 2005 the price began to fall, reaching $53.32 on April 9. (Ford 2005). On March 16, 2005, the price surpassed the October 2004 high of $55.17 to close at $56.46. However, since Lewis's first successes at Oxford were in the classics and ancient history, it is quite possible that he came across at least seven references to Narnia in Latin literature.

The price of light, sweet crude oil on NYMEX has been above $50/barrel since March 5, 2005. According to Paul Ford's Companion to Narnia: There is no indication that Lewis was alluding to the ancient Umbrian city Nequinium, renamed Narnia (after the river Nar, a tributary of the Tiber) by the conquering Romans in 299 BC. After retreating for several months during the winter of 2004/2005, prices rose to new highs in March 2005. The Inklings were also known to gather at a local pub, The Eagle and Child. These analysts believe the problem would be solved by increasing the efficiency of factories, homes and transportation and easing the demand crunch by using less energy and more renewable energy. Lewis's college rooms at Magdalen College. Still others suggest that the main issue is a lack of energy efficiency in industry. S.

A July 14, 2005 Morgan Stanley report[9] suggests that opinions of the oil market could burst just like a bubble if indications of declining Asian demand continue. These readings and discussions were usually held on Thursday evenings in C. If these speculators are wrong, current prices may actually be a price bubble, and the price could thus collapse. Readings and discussions of the members' unfinished works were the principal purposes of meetings. These people argue that speculators foresee increasing demand, decreasing supply, or both, leading to a long term increase in the price of oil. Tolkien, Charles Williams and Hugo Dyson. Others believe that the price of oil is almost entirely speculative, and that the increase in price is due to oil speculation extending into the long term. R.

Not only is there a limited amount of fossil fuels which have been burnt as fuel, but however much remains will be used faster by a growing industrialized world population and what remains will be more dificult to get since the easiest wells have been tapped and the remaining sources will be fought over in resource wars. R. A more fundamental problem that some believe is causing the price to rise is the probability of peak oil already or soon to be reached. Its members included such notables as J. Critics argue that these problems periodically push price higher, but that they are not fundamental or long term enough to cause the large jump in gas price. Lewis was part of the Inklings, a literary discussion group associated with the University of Oxford, England. Some people and news agencies argue that labor strikes, hurricane threats to oil platforms, fires and terrorist threats at refineries, and other general problems are responsible for the higher gas prices. (Wilson 2005).

Since oil is traded in dollars, the price must increase for OPEC to maintain buying power in Europe. Some of these children stayed with Lewis at his home in Oxford. One other important cause is the United States dollar's slump against the Euro. During World War II, many children were evacuated from London because of air raids. The short term price of oil is partially controlled by the OPEC cartel and the oligopoly of major oil companies. Like Caspian and Tirian, Lewis lost his mother at an early age, and like Edmund, Jill and Eustace, he spent a long, miserable time in English boarding schools. Even if oil supplies themselves are not reduced, some experts feel the easily accessible sources of light sweet crude are almost exhausted and in the future the world will depend on more expensive sources of oil. The house contained long hallways and empty rooms, and Lewis and his brother invented make-believe worlds while exploring their home.

Despite this there is increasing discussion of peak oil and the possibility that the future may see a reduced supply of oil. Born in Belfast, Ireland in 1898, Lewis' family moved to a large house in the country when he was seven. This rate of increase is faster than that of any other date in the past. Lewis' early life has echoes within the Chronicles. World supply (specification) came in at 83 million barrels a day during 2004 in department of energy EIA calculations ([8]). CS Lewis himself stated in an essay called Is Theism Important?:. Gas prices in the region, normally 70 cents below the national average, were at $3.12 on August 30.[7]. Assuming that Lewis did indeed base aspects of The Chronicles of Narnia on the New Testament, Lewis might have, in fact, been infusing pagan symbolism, allegory, and supposition into The Chronicles of Narnia.

Short-term shutdowns because of power outages knocked out two major on-shore pipelines, and at least 10% of the nation's refining capacity was not operating in the wake of the storm. MacDonald, PhD, who teaches at the Claremont School of Theology, has written numerous books stating that portions of the New Testament are actually derived from Classical pagan Greek literature like the Iliad and the Odyssey of Homer(MacDonald 2000), (MacDonald 2003) though the actual resemblance between the two are very mild, and in the stories are woven deep and unique biblical elements. market. A religious studies professor, Dennis R. In late August, 2005, Hurricane Katrina crippled the supply-flow from off-shore rigs in the Gulf Coast, the largest source of oil for the domestic U.S. [1] Joseph Campbell himself felt that the New Testament adhered to the archetypal monomyth and was but "one version of mythic stories that can be found in many cultures."[2] Both The Chronicles of Narnia and the New Testament are rife with Jungian archetypal imagery. Outside the Middle East other oil producers have worried investors such as the strikes political problems in Venezuela and potential instability in West Africa. Drew Trotter, PhD, president of the Center for Christian Study, noted that the producers of the film version of The Chronicles of Narnia felt that The Chronicles of Narnia closely follows the archetypal pattern of the monomyth as detailed in Joseph Campbell's The Hero With a Thousand Faces.

The war in Iraq, Iran's nuclear program, and questions about Saudi Arabia's internal stability all could in the future lead to a dramatic fall in the supply of oil. Therefore the Lion was was King over all in Narnia, including the pagan Gods, which is why many christians don't find the mythology offensive.[citation needed] In any case, most childrens fantasy contain mythological creatures.[citation needed]. One of the most important is growing turbulence in the Middle East, the world's largest oil producing region. (Chattaway 2005), (Berit 2005) According to Josh Hurst from Christianity Today, "not only was Lewis hesitant to call his books Christian allegory, but the stories borrow just as much from pagan mythology as they do the Bible."(Hurst 2005) However, the mythological creatures in the stories are portrayed just as normal an animal as all the other, real species talking animals, and not in a pagan-religious light.[citation needed] The Pagan Gods seem to be under the rule of Aslan (and not as great) and perhaps were supposed to be seen as mortal.
There are a number of reasons why oil traders feel that oil supplies might be reduced. Even an animistic "River god" is portrayed in a positive light. Note: the total percentage exceeds 100 because the overall demand from all other countries decreased during the same period.. Satyrs, fauns, centaurs, dwarves, werewolves, giants, and even the pagan god Bacchus and the Maenads are depicted in a positive light, when they are distinctly pagan motifs.

Department of Energy Energy Information Administration estimates: [6]. There are many Christians who feel that The Chronicles of Narnia promotes soft sell paganism and occultism, because of the recurring pagan themes and the heretical depictions of Christ as an anthropomorphic lion. Sources of the world-consumption-increase in 2004 compared to 2003 (total increase of 3.4%), according to U.S. In the Bible, Jesus is also referred to as the Lion of the Tribe of Judea. New demand is also coming from emerging industry in third world nations, including India and especially China which is developing a western-style car culture and whose manufacturing bases have grown very rapidly in recent years. The thorn is symbolic of the crown of thorns, and that Eustace pricked his paw is symbolic of how man put Christ on the cross. economy currently accounts for one-quarter of all demand. This is symbolic of how only Jesus's blood when he died on the cross could bring man to heaven (and give them life), and the water that purifies.

The U.S. Aslan commands Eustace to prick his paw with a thorn, and Aslan lets the blood drop on Caspian, who in turn comes alive. market, the source of an increasing percentage of the world's demand for petroleum. Also, in The Silver Chair, the dead King Caspian is brought to Aslan's terriritory, where Caspian lay in a river. High demand is led by the U.S. Christ was called the Lamb of God in Bible, and it is almost certain that he meant the name Jesus. . In the 5th book in the series, The Voyage of the Dawn Treader, Aslan turns from a lamb into a lion and tells the children that he brought them to Narnia to learn his other name on Earth.

The previous high was $2.38 per gallon in March 1981, which would be $3.03 per gallon after adjusted for inflation.[4][5]. Many parts of the books may seem rather out-of-place, but make sense in light of the symbolism they carry. The average retail price was nearly $3.04 per gallon. (Kent 2005). In the United States gasoline prices reached an all time high during the first week of September 2005 in the aftermath of Hurricane Katrina. Some Christians see the chronicles as excellent tools for Christian evangelism. A record price of $70.85 per barrel was reached on August 29, 2005.[2] While oil prices are considerably higher than a year ago, they are still roughly 25$ from exceeding the inflation-adjusted "peak of the 1980 shock, when prices were over $90 a barrel in today’s prices" [3]. Lewis, says flatly that Lewis has become "a pawn in America's culture wars" (Jacobs 2005).

By August 11, 2005, the price had been above $60/barrel for over a week and a half. (Toynbee 2005) Alan Jacobs, author of The Narnian: The Life and Imaginaton of C.S. The price of standard crude oil on NYMEX was under $25/barrel in September 2003. Some find them distasteful, while noting that they are easy to miss if you are not familiar with Christianity. At the same time, Cuba has experienced electricity shortages. With the release of 2005 Disney movie there has been renewed interest in the Christian parallels found in the books. These nations must resort to limiting imports or rationing their existing supplies. Hook in December of 1958:.

Many countries in Sub-Saharan Africa lack the foreign exchange reserves (ie, Dollars) to purchase enough oil products at the ever increasingly higher prices. As he wrote in a letter to a Mrs. The Indonesian president had instituted subsidies to control the price of gasoline.[30]. This is similar to what we would now call alternative history. A senior minister of Singapore expressed concern at the oil crisis in Indonesia.[29]. Lewis, an expert on the subject of allegory, himself maintained that the books were not allegory, and preferred to call the Christian aspects of them "suppositional". [27] New sources of energy were sought to deal with the crisis.[28]. As he wrote in Of Other Worlds:.

In the Philippines, the oil crisis caused its public to call for immediate government assistance. Although he did not set out to do so, in the process of writing his fantasy works, Lewis (an adult convert to Christianity) found himself incorporating Christian theological concepts into his stories. combined other non-OECD: 21%. Because of this, The Chronicles of Narnia have become favourites with both children and adults, Christians and non-Christians. UK: 3.5%. The Chronicles of Narnia contain many allusions to Christian ideas which are easily accessible to younger readers; however, the books are not weighty, and can be read for their adventure, colour, and mythological ideas alone. Canada: 4%. Ironically, Douglas Gresham, who pushed the publishers to reorder the books, is now the co-producer of the Narnia film series—which is being made in the original order.

Asia outside Japan and China: 13.8%. For re-reading, as Lewis said, "perhaps it does not matter very much". US: 19.4%. It is important to keep in mind that this dispute only applies to the first reading of the books. China: 38.9%. This argument hinges partly on the claim that Chronology is not equivalent to Narrative. For this reason, many think that children are deprived of the mystery that could have existed for them had the original order been used.

Story events such as the creation story, the origin of the White Witch, the active wood of which the wardrobe is made, and the identity of the professor are all described before the reader knows much about Narnia or the story of the White Witch. Another argument put forth by fans of the original order is that an early reading of The Magician's Nephew spoils much of the wonder felt upon discovering Narnia through the wardrobe in LWW. and ends,. It begins,.

By contrast, in The Magician's Nephew, Lewis is filling in some of the back-story of the series. Prince Caspian, which is subtitled "The Return to Narnia", refers to "the other story". and the story ends,. For instance, in The Lion, when Aslan is first mentioned, Lewis says,.

(Brady 2005) It's clear from the texts that The Lion was the first book—and that The Magician's Nephew was not. Fans of the series who appreciate the original order believe that Lewis was only being polite to a child and that he could have changed the order in his lifetime had he so desired.
Gresham quoted Lewis's reply to a letter from an American fan in 1957 who was having an argument with his mother about the order:. When HarperCollins took over the series, the books were renumbered using the internal chronological order, as suggested by Lewis's stepson, Douglas Gresham.

The first American publisher, Macmillan, put numbers on the books in the order in which they were published. When the books were originally published, they were not numbered. Fans of the series often have strong opinions over the correct ordering of the books. Jill and Eustace are returned to Narnia to help save it from treacherous invaders and a false Aslan.

Published in 1956 and awarded the Carnegie Medal, The Last Battle chronicles the end of the world of Narnia. Many mysteries of Narnia are revealed as another group of children stumble into Narnia via an entirely different route. Published in 1955, the prequel The Magician's Nephew brings us back to the very beginning of Narnia where we learn how Aslan created the world and how evil first entered it. This chronicle is set during the reign of the Pevensie Children as Kings and Queens of Narnia.

On their journey they discover that the Calormenes are about to invade Narnia and sound the alarm. By chance, one day they meet and plan their return to Narnia and freedom. Published in 1954, The Horse and His Boy tells the story of Bree, a talking horse, and Shasta, a young boy, who have been held in bondage in a country to the South of Narnia. Eustace and Jill face danger before finding Rilian and breaking him free from the spell of the Emerald Witch.

There they are given four clues to find Prince Rilian who is missing. Instead, Aslan calls Eustace back to Narnia together with his fellow student Jill Pole. Published in 1953, The Silver Chair is the first book without the Pevensie children. This perilous journey brings them face to face with many wonders and dangers as they sail toward Aslan's country at the end of the world.

Once there they accompany King Caspian on a voyage to find the seven lords who were banished when Caspian's evil uncle Miraz stole the throne. Published in 1952, The Voyage of the Dawn Treader returns Edmund and Lucy Pevensie, along with their priggish cousin, Eustace Scrubb, to Narnia. The four children help the young Prince Caspian organize his army of Talking Beasts, and, with the help of the great lion Aslan, Narnia is once more freed of evil. This foreign ruler has tried to kill off the magical creatures of Narnia, but there are still many hiding in the remote corners of the land.

Published in 1951, Prince Caspian: The Return to Narnia tells the story of the Pevensie children's second trip to Narnia where they discover that an evil king from Telmar has taken control of Narnia. The tale culminates in an epic battle against the forces of the witch. They are helped in their quest by several creatures, including Aslan the Lion, the guardian of Narnia. They discover that a professor's wardrobe leads to the magical land of Narnia, and help to save it from the evil White Witch.

Lewis, tells the story of four ordinary children, Peter, Susan, Edmund and Lucy Pevensie. The Lion, the Witch and the Wardrobe, published in 1950 by C.S. (Guthmann 2005). Lewis' works having sold more than 95 million copies in 41 languages.

They are by far the most popular of C.S. The books that make up The Chronicles of Narnia are presented below in the order in which they were originally published (see reading order below). . The Chronicles present the adventures of children who play central roles in the unfolding history of the realm of Narnia, a place where animals talk, magic is common, and good is fighting evil.

Pauline Baynes illustrated the original books in the series. The books have been adapted for radio, television, stage and cinema. Written by Lewis between 1950 and 1956, The Chronicles of Narnia contains Christian themes and borrows from Greek and Roman mythology as well as traditional English and Irish fairy tales. More than 95 million copies of the books have been sold in 41 languages.

It is considered a classic of children's literature and is perhaps the author's best known work. Lewis. The Chronicles of Narnia is a series of seven fantasy novels for children written by C.S. Campbell, Joseph (1972), The Hero With a Thousand Faces, ISBN 0691017840.

Campbell, Joseph (1991), The Masks of God: Occidental Mythology, ISBN 014019441X. Hurst, Josh (2005), Nine Minutes of Narnia, Christianity Today. (2005), Narnia 'baptizes' - and defends - pagan mythology, Canadian Christianity, ISBN. Chattaway, Peter T.

(2003), Does the New Testament Imitate Homer?, IISBN 0300097700. MacDonald, Dennis R. (2000), The Homeric Epics and the Gospel of Mark, IISBN 0300080123. MacDonald, Dennis R.

Kjos, Berit (2005), Narnia: Blending Truth and Myth, Kjos Ministries. Eerdmans Publishing Company, 0802808689. B. (1994), God in the Dock: Essays on Theology and Ethics, Wm.

Lewis, C.S. Jacobs, Alan (2005), "The professor, the Christian, and the storyteller", The Boston Globe. Guthmann, Edward (2005), "'Narnia' tries to cash in on dual audience", San Francisco Chronicle. Wilson, Tracy (2005), "How Narnia Works", How Stuff Works.

Ford, Paul (2005), Companion to Narnia, Revised Edition, Harper, SanFrancisco, ISBN 0-0607-9127-6. Brady, Erik (2005), "A Closer Look at the World of 'Narnia'", The USA Today. Gopnik, Adam (2005), "Prisoner of Narnia", The New Yorker. November/December.

Kent, Keri Wyatt (2005), "Talking Narnia to Your Neighbors", Christianity Today, no. Toynbee, Polly (2005), "Narnia represents everything that is most hateful about religion", The Guardian. OConnor, Kyrie (2005), "5th Narnia book may not see big screen", The Indianapolis Star. Rilstone, Andrew (2005), "Lipstick on My Scholar", The Life and Opinions of Andrew Rilstone.

(2005), "The Problem with Susan", Parabolic Extensions. Anderson, R.J. Swinton, Tilda (2005), "Narnia Christian link played down", BBC News. 4.

166, no. Rowling Hogwarts And All", Time, vol. Grossman, Lev (2005), "J.K. B14.

15, pp. 52, no. Nelson, Michael (2005), "For the Love of Narnia", The Chronicle of Higher Education, vol. Lewis's books are racist and misogynist", The Independent(London).

Hensher, Philip (1998), "Don't let your children go to Narnia: C.S. Pullman, Philip (1998), "The Darkside of Narnia", The Guardian [11]. Smith, Neil (2005), "Narnia Christian link played down", BBC News. Lewis' Letters to Children, Scribner, ISBN 0-6848-2372-1.

S. Dorsett, Lyle & Mead, Marjorie (1996), C. Martindale, Wayne & Root, Jerry (1990), The Quotable Lewis, Tyndale House, ISBN 0-8423-5115-9. HarperSanFrancisco, 2005.

Lewis. The Narnian: The Life and Imagination of C.S. Jacobs, Alan. Progeny Press, 2003.

Prince Caspian Study Guide. Progeny Press, 1997. The Magician's Nephew Study Guide. Progeny Press, 1993.

The Lion, Witch & Wardrobe Study Guide. Teacher Created Resources, 2000. A Guide for Using The Lion, the Witch and the Wardrobe in the Classroom. For Dummies, 2005.

Lewis & Narnia For Dummies. C.S. Wagner, Richard. W Publishing Group, 2005.

The Heart of the Chronicles of Narnia: Knowing God Here by Finding Him There. Williams, Thomas. Tyndale House Publishers, 2005. Finding God in the Land of Narnia.

Bruner, Kurt & Ware, Jim. Crossway Books, 2003. Lewis's the Chronicles of Narnia. A Family Guide to Narnia: Biblical Truths in C.S.

Ditchfield, Christin. HarperSanFrancisco, revised edition 2005. Companion to Narnia, Revised Edition. Ford, Paul.

InterVarsity Press, 2004. A Field Guide to Narnia. Duriez, Colin.

09-01-15 FTPPro Support FTPPro looks and feels just like Windows Explorer Contact FTPPro FTPPro Help Topics FTPPro Terms Of Use ftppro.com/browse2000.php Business Search Directory Real Estate Database WebExposure.us Google+ Directory Dan Schmidt is a keyboardist, composer, songwriter, and producer.