The Green Dream

The quest for a sustainable, ecologically sensible society in the Pacific Northwest. (Special edition, with several articles, including a long interview with Ernest Callenbach, author of Ecotopia.)

A poorer OPEC no longer spreads its wealth

In the bad old days of an oil embargo and gasoline lines, Americans at least got billions of petrodollars back from the oil-rich Middle East.

That money got recycled into the United States, mostly in safe bank deposits. The banks then invested it at great risk in Latin America and elsewhere.

So this time as gasoline prices soar again…some Americans may be expecting another influx of Mideast cash. They shouldn’t. The petrodollar is losing its international clout.

Cracks may force shutdown of UK reactors

Reactors in many UK nuclear power stations are in danger of developing cracks in their graphite cores. This could force some plants to close down earlier than expected, dealing a blow to the idea that nuclear power can become a “green” option in the fight against global warming.

Worries swelling over oil shortage

In the space of a couple of hours last week, crude oil prices hit a record $56 a barrel…The converging events drew attention to what administration officials call a temporary global energy crunch. Bigger worries also are bubbling to the surface — fears of a day of reckoning over world oil reserves.

A brave new oily world

I asked Joe Terranova, director of trading for MBF Clearing Corp., why oil keeps going up and up. “Simple, the cat is out of the bag!” according to Joe. “Traders now recognize, for the first time since oil futures have traded, that there truly exists a demand to supply problem.”