Insight and inspiration in turbulent times.
The bitterly disputed Ukrainian presidential election, and the crisis that is exploding in the wake of the contested outcome, has reignited the Cold War and a new round of East-West conflict over control of Eurasian/Caspian/Black Sea energy.
Among the challenges facing President Bush in his second term is a big one left over from his first: energy. Oil is causing the most anxiety. Some say world oil production has peaked.
The Organisation of Petroleum Exporting Countries signalled that the cartel would keep pumping crude at currently high levels even though crude prices have cooled recently.
An Ohio refinery is widening its use of synthetic crude oil – made from tar stripped from Canadian sand. The problem is, according to Jim Meyer, tar cannot be extracted and turned into oil fast enough to make up for the expected fall in conventional oil production.
PowerSwitch.org.uk, a great British Peak Oil site, has announced a short story competition judged by noted author Stephen Baxter – plus more news in this latest bulletin.
To see ahead, we have to understand what we are in the midst of. I pronounce this pre-collapse phase as the beginning of the grand nightmare. Mind you, there will be a dawn, but an unrecognizable one to myopic dwellers of consumer civilization.
Although crude prices have fallen considerably from record highs in mid-October, the retreat doesn’t necessarily signal the start of an extended price slide into 2005, said analysts at the Centre for Global Energy Studies in London.
Students at Vanderbilt University will have a chance to learn about Hubbert’s peak and the looming challenges of energy and the environment for the new century.
The Tennessee Valley Authority will pay nearly twice as much as it
did five years ago to stoke some of its power plants with low-sulfur
coal.
Even with demand for crude oil surging and prices near record highs, Bernardo de la Garza can unload his oil only at a steep discount. De la Garza sells a less-desirable grade of heavy Mexican oil.
“There have been developments (that suggest) that during the second quarter of 2005, demand for oil will plunge,” OPEC President Purnomo Yusgiantoro said without elaborating.
Oil is the sinews of the modern life….
Unfortunately, this valuable substance which has been relatively recently introduced into man’s life is going to be exhausted.
