Insight and inspiration in turbulent times.
The only certain beneficiaries of this coming economic chaos will be the big five oil corporations and their corrupt partners: the Nigerian generals, Saudi princes, Russian kleptocrats, and their ilk. Crude oil truly will become black gold.
As gas prices loft into the stratosphere, likely never to come down, we can expect to hear much doomsaying about how this will end the world as we know it. Let’s hope so.
Jim Puplava of Financial Sense interviews Catherine Austin Fitts, whose website is Solari.com. “The scenarios that people discuss about peak oil are absolutely possible.”
The US-led invasion of Iraq was a colonial war and there were some in the United States who saw it as a means of getting their hands on Iraqi oil, Prince Turki Al-Faisal was quoted as saying yesterday.
If the Saudis plan to unilaterally boost their supply of crude oil, regardless of what the OPEC cartel decides to do — a promise the Saudi Arabian oil minister made last week — then why have crude prices continued to climb?
U.S. oil refiner ConocoPhillips turned down an offer to take extra oil from top OPEC exporter Saudi Arabia because the oil was too heavy a grade, a trader at the company said on Tuesday.
LONDON — The Royal Dutch/Shell Group downgraded the size of its proven oil and gas reserves yesterday for the fourth time this year as the oil giant continued to stumble over a scandal that shocked the markets and forced the resignation of three top executives.
Secret policy changes made oil and gas development the dominant use of federal lands.[US]
North Americans complain about fuel costs. But to avoid a possibly unprecedented human crisis in coming decades, they should be urging their governments to allow the price of oil and natural gas to rise even more.
Global warming is now advancing so swiftly that only a massive expansion of nuclear power as the world’s main energy source can prevent it overwhelming civilisation, the scientist and celebrated Green guru, James Lovelock, says.
Crude oil futures rose on concern that a promised Saudi Arabian production rise and any Organization of Petroleum Exporting Countries quota increase at a meeting next week won’t meet rising demand.
The Oil and Gas Journal published on May 17th an article by Mr Sadad al-Husseini, who was until recently an Executive Vice-President of Saudi Aramco. He refers to the doubts raised by ASPO regarding the validity of the 260 Gb (billion barrels) claimed by the country as remaining reserves, admitting that a policy of withholding technical information has given grounds for uncertainty.
