Gregor Macdonald

Spare capacity theory

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In truth, the spare capacity that the world cares about — that the oil futures market cares about — is not the inventory level. But rather, actual production capacity that can be brought on immediately. You can see the problem, from a price standpoint. If the world loses Libya’s 1.5 mbpd production for 90-120 days, and starts drawing down above-ground inventories, this only makes the inventory cushion that much thinner for any new supply disruptions. The question on the mind of the oil market therefore is not Mr. Fyfe’s 1.6 billion barrels of crude, but whether countries like Kuwait, the U.A.E. and especially Saudi Arabia or even Russia can lift supply. Immediately.

How fisheries can gain from the lessons of sustainable food

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As agriculture and energy production have made strides toward becoming more sustainable, the world’s fisheries have lagged behind. But restoring our beleaguered oceans to health will require an emphasis on diversification and conservation — and a more sensible mix of fishing practices.

The peak oil crisis: inflection point?

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Add the loss of all or a major portion of Libyan oil production for an unknown period and the likely more-than-forecasted increase in Chinese demand, to the possibility that the Saudis will never produce much more than 10 million b/d, and the world is in for some real problems. To avoid shortages, the price of oil will be moving significantly higher.

Profiles in urban homesteading

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In early February, 2011, Jules Dervaes of the Dervaes Institute, released letters saying that he had secured trademarks for the terms urban homestead and urban homesteading, roiling the larger community or urban homesteaders, from actual businesses and organizations to folks who do it just for fun. Fighting what they consider an injustice, the group set up petitions and a day of action to fight back. We covered the fracas last week, and now follow up with news on the origins of urban homesteading and profiles of two prominent city dwelling farmers.

A ground to stand on

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Life is up to something. It is becoming more diverse and more complex. Not always, and not in every place, but as an average across all of time from the beginning of life. Life may not have a goal, but the trend is unmistakable. The first principle that organizes reality has been with us all along.