Torm and Ardmore: Oil peak will arrive late

The demand for oil will undoubtedly peak. The question is when and who will feel it first. ShippingWatch has interviewed the CEOs of Torm and Ardmore about the situation for product tanker carriers.

Photo: Ardmore

When Anthony Gurnee was ten years old, a gallon of gasoline cost 25 cents in the US.

If people continued to use oil at the same pace as back then, the world would have run out in the 1980s, as billboards warned across the US. Afterward, two oil crises followed with prices so high that people installed coal ovens to heat their houses, followed by two oil price collapses, the most recent being the result of the fracking revolution.

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