Cheap oil now, high costs later
IN THE short run, it is good news that the price of a barrel of crude oil has fallen below US$40 (S$69). In the long run, however, this is not good news. In fact, it may be terrible news.
Fossil Fuels
‘It All Leads Back to Texas’
Robert Bryce on the Texas-Washington-international crony network. “If you believe, as I do, that worldwide oil production has reached its peak, then they’ve set up a global showdown.”
US: Good news now, bad news later
We need both cheap money and cheap energy, in particular oil and its derivatives. The problem is that we can print our own money in any quantity the Fed deems sufficient to keep the economy humming along. But we can only provide 40 percent of the oil we must have from domestic sources.
Oil chief: my fears for planet
The head of one of the world’s biggest oil companies has admitted that the threat of climate change makes him “really very worried for the planet”.
Saudi oil targeted, experts say
Escalating sabotage against pipelines in Iraq is heightening fears that terrorists are planning a wholesale assault on energy targets throughout the region and are taking aim at the world’s largest oil supplier — Saudi Arabia.
Richard Heinberg on Dwindling Oil and 9/11
Richard Heinberg speaking to Lynn Gary on Unwelcome Guests SHOW #206 9 May 2004 Dwindling Oil and 9/11 – Part 4 of the International Inquiry on 911’s Unanswered Questions
Crude oil squeeze continues
The important point is this: Why is OPEC busy asking Russia and other non-cartel producers to boost their production if Saudi Arabia has everything under control?
Norway Oil Workers Begin Strike, Cutting Output
Norwegian oil workers are going on strike from today, cutting output from the world’s third- largest oil exporter, after two unions failed to reach a pension accord with employers.
Coal is the future, Howard tells Australians
Despite concerns about global warming, the prime minister’s energy plan stresses the importance of fossil fuels and rejects the Kyoto Protocol
There’s enough oil left to last for 40 years, says BP
Petroleum giant BP said yesterday that world oil supplies remained plentiful, despite growing concerns about the remaining global reserves of crude.
Russia’s pipeline gambit
Russia has sent signals that it could clear the way for the construction of private oil pipelines as a way to increase petroleum exports to the West.
A Call for Action
The possible timeframe to address ecological problems is far shorter than even most environmentalists realise due to Peak Oil. Information to help survive the collapse of capitalism must be collected and distributed for regional solutions.
