Insight and inspiration in turbulent times.
What few people in America understand, despite the astute observations of millions of individuals around the world, is that we are living in an empire, and we are no longer living in a democracy. As citizens living in the belly of the beast, we must not only think about how to defeat the empire, but also how to merely survive living within it. In order to do so, one must understand the concept of Peak Oil.
In a few decades, many OPEC nations in the Middle East will have such large populations that they could end up consuming much or all of the energy they now export, suggests Matthew Simmons, an oil consultant in Houston.
In this issue, I will examine several of the reasons why the price of oil will not significantly pull back from today’s levels and is likely to reach the $80 mark within the next 24 months.
A key assumption held by New Zealand’s Ministry of Economic Development (MED) covering the period between 2000 to 2025 is that oil prices will rise from US$20/bbl in 2000 to US$25 a barrel by 2020 and remain constant thereafter.
A rather alarming theory about oil supplies — which had been discussed mostly among fringe economists and on quirky Internet Web sites — has recently received much broader attention.
The cost of a litre of milk could be about to get dearer, as dairy processors are hit by high world oil prices
Libya is “the central exploration and production buzz for 2005” among international oil companies looking for access to potentially giant oil and gas fields, said energy analyst Catherine Hunter in a report drafted for the World Markets Research Centre, part of the London-based Global Insight group of companies.
Canadian Natural Resources says high prices for steel, fuel and labour could boost the cost of the first phase of its Horizon oil sands project in northern Alberta by nearly 35 per cent — to $6.6-billion.
The end of cheap oil may mean more than just higher gas prices for Americans. It may mean the end of the oil age as we know it. That is according to the so-called peak oil movement, which says that by 2008 humans will have extracted half of the earth’s oil.
Saboteurs have mounted the biggest attacks yet on Iraq’s oil infrastructure, blowing up three pipelines in the north and hitting exports via Turkey, oil officials said Tuesday.
November newsletter from the Association for the Study of Peak Oil & Gas is essential reading. Includes an update on Saudi reserves, an analysis of US petrodollars, a country assessment of Denmark and much more.
South Africa will explore ways to source its oil from other African countries in a effort to cope with spiralling global prices.
