Insight and inspiration in turbulent times.
We need both cheap money and cheap energy, in particular oil and its derivatives. The problem is that we can print our own money in any quantity the Fed deems sufficient to keep the economy humming along. But we can only provide 40 percent of the oil we must have from domestic sources.
“We went into Iraq with ideological lenses. If you start with a rosy scenario and work backward, you’re in a world of shit. And that’s where we are,” said Naval War College professor, Ahmed S. Hashim.
The head of one of the world’s biggest oil companies has admitted that the threat of climate change makes him “really very worried for the planet”.
Escalating sabotage against pipelines in Iraq is heightening fears that terrorists are planning a wholesale assault on energy targets throughout the region and are taking aim at the world’s largest oil supplier — Saudi Arabia.
We remain wilfully blind to the fact that this festival of credit cannot go on.
The important point is this: Why is OPEC busy asking Russia and other non-cartel producers to boost their production if Saudi Arabia has everything under control?
Japan’s electricity industry is in turmoil. This may have a big impact on the world’s energy markets
Iran is to launch an oil trading market for Middle East and Opec producers that could threaten the supremacy of London’s International Petroleum Exchange.
With all Iraq’s oil exports halted by sabotage, gunmen killed a top Iraqi oil official on Wednesday in a new blow to an interim government reeling from violence two weeks before U.S.-led occupation formally ends.
Petroleum giant BP said yesterday that world oil supplies remained plentiful, despite growing concerns about the remaining global reserves of crude.
Russia has sent signals that it could clear the way for the construction of private oil pipelines as a way to increase petroleum exports to the West.
The possible timeframe to address ecological problems is far shorter than even most environmentalists realise due to Peak Oil. Information to help survive the collapse of capitalism must be collected and distributed for regional solutions.
