Original Sin
In our history, the American nation committed obvious sins against select groups of people, and we’ve paid bitterly for some of that. But now it’s our sins against the land itself that threaten to sink the USA as a viable enterprise.
In our history, the American nation committed obvious sins against select groups of people, and we’ve paid bitterly for some of that. But now it’s our sins against the land itself that threaten to sink the USA as a viable enterprise.
A weekly review including:
– Production and prices
– The crack spread
– Ominous forecasts
– Quote of the week
– Briefs
Many Oil Drum readers imagine what is ahead as a slide down the net energy curve, as the amount of oil and natural gas available gradually decline. Somehow, business as usual will continue, but at a lower level, as resources deplete. But what if a better model for what is ahead is overshoot and collapse?
This week saw further oil discoveries in the Santos Basin and off the coast of Ghana, extending a run of sizeable finds in recent weeks. Following much breathless reporting of such discoveries, it was good to them put into context by solid analysis from Morgan Stanley and Bank Macquarie…
Today’s article is the first of a two-part series in which I attempt to forecast general economic conditions that will affect the oil market over the next 10 years. Despite Galbraith’s sensible warning, what we will experience in the aftermath of the Great Recession is not a complete mystery. Strong evidence suggests that during the next decade, the global economy will struggle to regain a sound footing supporting vigorous growth.
-Supply constraints to push oil up to $105 a barrel by 2012
-Peak oil expected in 2009: Macquarie
-Oil strikes not enough to quench demand
A weekly round-up including:
– Prices and production
– Elsewhere
-What we need to form Florida’s green economy
-Britain’s first housing co-op leads the way in sustainable living
-No Impact Man and the Pursuit of Happiness
-Enabling Inward Community Investment: insights from the DTA conference
-Squatters’ rights
-One Man’s Trash …
-Real people, real preparation, Part 5, Carolyn Baker Interviews Robin Rucker
–
While much higher oil prices three or four years from now, coming from new production failing to keep up with depletion of existing fields seem highly likely, the current issue is whether prices will climb into economy-damaging territory in 2009, 2010, or 2011.
I am going to make an argument I don’t see much. Reading the pros and cons on this subject is a bit like watching a pea roll around on a plate. My goal is to stick a fork in that pea and focus on something very fundamental. The point I will make is that one can say with high confidence bordering on certainty that only a predominantly local food system will ever be sustainable.
-Oil giants zero in on untapped Greenland
-Norway cuts arctic barrel count
-IEA Raises 2009, 2010 Oil Demand Forecasts on Growth (Update2)
-The Zero Growth Mind
-The Peasantry of the Future
-The Virtues of Deglobalization: Has the time finally come to reverse and end globalization?