Insight and inspiration in turbulent times.
Andrew McKillop One hangover from the ultraliberal 1980s (during which the New Economy emerged from the wreck of ” Keynesian economics “) is the myth or pious belief in so-called ‘supply side solutions’. The myth itself, however, was built on the real world, realpolitik process of first destroying demand.
The risk of wars being fought over water is rising because of explosive global population growth and widespread complacency, scientists said.
Missing: one-third of the Pentagon’s equipment and $1.9 billion of Iraqi money. Guess who has it?
As oil prices rose, Russian President Vladimir Putin told President Bush on Monday that Russian oil companies are increasing oil production and exports and will continue to do so, the White House said.
China’s dramatic increase in energy consumption – coupled with political problems in the oil-producing countries of Iraq, Russia and Venezuela – could have dramatic negative effects on the U.S. and world economies.
China has become a net importer of farm produce, raising concerns at the highest levels of government about the security of the food supply for 1.3 billion people as land and water shortages put pressure on domestic grain production.
While world supply of conventional oil looks set to peak, hydrogen has long been proposed as a solution. But in spite of billions of dollars now being spent on research, no one has yet found a simple, safe and cheap way to produce it.
The Association for the Study of Peak Oil feels that the current increase in crude oil prices is only a foretaste of worse to come.
To some geologists, the world is heading toward an oil crisis of historic proportions. The crisis will come, they say, not when the wells go dry, but when world oil production reaches a peak and begins to decline.
Economic growth equals increased demand, increased demand results in resources (such as oil and natural gas) being depleted at quicker rate.
Authorities kept a main oil pipeline in southern Iraq shut on Sunday rather than risk it being attacked, restricting the country’s exports to half normal levels, a South Oil Official said.
Saudi Arabia’s output declined in July giving rise to new concerns that the country is struggling to increase output for technical reasons.
