Insight and inspiration in turbulent times.
The Bush Administration in a second term may have a strategy for itself and its powered elite: to be the “last man standing,” adopting the strategy author Richard Heinberg describes as the worst possible reaction to global oil peak.
Many energy experts predict that not only won’t the price decline last long, but Americans soon will have to say goodbye forever to plentiful, cheap oil.
“Experts say the stark reality is that oil and oil-derived products will inevitably shoot up again in price as demand exceeds production. And this will happen sooner than most people think.”
Hundreds of Canadian troops were all around. Helicopters swooped over the tin roofs of this isolated hamlet. A navy frigate and coast guard icebreaker were moored and readied in a nearby fjord.
Even with new discoveries, increasing domestic demand means Australia will need to import more and more of its oil over time.
Neither President Bush nor his Democratic rival, John Kerry, has shown the vision demanded by the critical problem of the nation’s overdependence on depleted fossil fuels.
Dozens of police officers on today raided the offices of Kansai Electric at the site of Japan’s worst nuclear plant accident as part of a criminal investigation into the tragedy that killed five people last month, an official said.
World oil prices rose on Thursday after Russia’s largest oil producer, Yukos, said a court ruling “paralyzes” the company’s operations.
With the price of oil hovering around US$40 per barrel, it is easy to assume that the oil-producing countries are laughing all the way to the bank. Indonesia, a seasoned player in the yo-yo market of oil revenue, has been careful not to take the current financial windfall too far, however, and for good reason.
Later this month, the U.S. Department of Energy will receive a report from a panel of experts on the prospects for cold fusion—the supposed generation of thermonuclear energy using tabletop apparatus.
Jimmy Carter put solar heating panels on the White House during his first year in office to promote energy conservation. Ronald Reagan took them off and ushered in the era of market deregulation shortly after he was elected.
Soaring oil prices have raised the stakes in China’s game of brinkmanship over the hotly disputed Spratly Islands, with the Philippines this week becoming the first rival claimant to break ranks.
