Insight and inspiration in turbulent times.
Eight-page report on the Association for the Study of Peak Oil and Gas (ASPO)conference this May in Germany…Our conclusion from the meeting? Peak Oil is real, and it’s getting closer.
Asian giants and economic rivals India and China are locked in battle to secure stakes in oil fields and blocks in the new energy haven of West Africa, officials and analysts here say.
Not only does the Iraqi government hand over their crude oil to US corporations, they now ban Iraqi farmers from saving their seeds. Transnational biotech corporations are given control over Iraqi seed banks.
The petrochemical industry’s costs are skyrocketing as raw materials grow dearer. `We’re keeping our fingers crossed,’ one executive tells reporter John Spears.
New York’s main crude oil price bolted to a record 55 dollars a barrel as traders fretted about stretched supplies, hot demand and thin stocks of winter heating fuel.
The Managing Editor of Platts claims that global oil production will peak soon, and economic output will peak soon. (Link to PowerPoint presentation.)
“I think the real price for oil to be $100,” said MP Kamal Daneshyar. “Therefore, importers are now buying oil much cheaper than the price they’ll soon face”.
OIL prices will skyrocket to US$100 per barrel, but the rich in Trinidad and Tobago will continue to get richer and the poor poorer. Yesenia Gonzalez, the 44-year-old Venezuelan psychic, is so confident this prediction would materialise in 2005, that she said she was prepared to put her reputation as a “top international psychic” on the line. [ At least she’s been reading her ASPO newsletters. ]
China is planning to invest $12 billion in Russia by 2020, the official China Daily newspaper said Saturday.
While peak oil enjoyed a break out in 04, and even though most Americans know in their heart of hearts that Iraq was about oil, Americans, this election, have yet to really make the connection.
Economic WMDs are being used against our people in a version of “freedom” that makes greed the dominant economic virtue.
Ruppert masterfully presents the genesis of September 11th and moves the reader through the early years regarding high expectations for massive oil sources, exposing what’s known as “peak oil” production and into the future.
