Peak oil review – March 7
A weekly roundup of peak oil news, including:
-Oil and the global economy
-the Saudis besieged
-China’s National People’s Congress
-Quote of the week
-Briefs
Geopolitics & Military
What punctured the North-African balloon? Crude oil and social unrest
A society is not as simple as a balloon but it can easily explode in revolutions, collapse, breakdowns, civil wars and all sort of rapid and unpredictable changes. Societies, it seems, are fragile, at least in terms of the stability of their governments. This behavior looks normal to us because we have seen it happening many times. But, just as for balloons, it is difficult to explain exactly why societies “explode.”
Oman’s unrest may be a domino, not just to suppliers, but also to customers
There are reports that the unrest in the Middle East has spread to the Sultanate of Oman. While at the moment there have been only one or perhaps two deaths, small in number relative to the larger number of fatalities in countries like Libya, such a milepost, nevertheless, is sadly likely to indicate that the situation will get much worse. … Oman is not a member of OPEC, but contains the largest oil reserves of any country outside that group in the Middle East.
Libya – behind the scenes – March 7
– Robert Fisk: America’s secret plan to arm Libya’s rebels
– Venezuela and Libya
– NYT: A Libyan Leader at War With Rebels, and Reality
Middle East and rising – March 7
– Fisk: Saudis mobilise thousands of troops to quell growing revolt
– Steve LeVine: The specter of flaming oil ports
– The Arab Spring
– Yemen: Scale of rebellion ‘impossible to predict’
The specter of flaming oil ports
Traders have adopted a new yardstick for oil security, and it’s influencing the abrupt climb of oil prices. Call it the Flaming Oil Port Index. It’s a notional appreciation of how many more OPEC countries may see fighting, taking their oil production with them.
Energy & nation – March 6
– Guardian on oil prices: Green light from the black stuff
– China Reportedly Plans Strict Goals to Save Energy
– UK facing 1970s-style oil shock which could cost economy £45bn – Huhne
– Libya, oil production, OPEC responses, Saudi Arabian capabilities and the SPR
– David Strahan: My2050@lastoilshock
Oil prices & strategic reserves – March 6
– Calls Mount to Tap U.S. Oil Reserves
– White House considers tapping oil reserves
– Crude Oil Heads for Its Third Weekly Gain as Unrest Spreads to Middle East
– Oil no immediate threat to recovery; fundamentals different from 2008
Middle East – March 6
– WSJ: U.S. Wavers on ‘Regime Change’
– Video: Libya rebels control oil port
– Saudi Arabia bans public protest
– Muammar Gaddafi’s opposition: How Libya’s revolt has stalled
ODAC Newsletter – March 4
Continued violence in the Middle East kept oil prices high this week. Libyan exports are down at least 1 million barrels a day and fears are escalating that the stand-off there could turn in to a protracted civil war. The unrest spread to Oman this week where security forces clashed with demonstrators. Meanwhile news of the arrest of a Shi’ite cleric demanding democratic reforms in Saudi Arabia sent the Saudi Tadawul stock exchange down 11%.
The dangerous dance of rising food and energy prices – March 4
-The Invisible Food Crisis
-Food prices reach record highs
-Climbing fuel prices trigger alarm
-Caught in the Food Pirates’ Trap
Peak oil notes – March 3
A midweek roundup of peak oil news, including:
-Developments this week
