Politics and Economics Headlines – 28 September, 2005

Nigerian oil facilities reopen as militia threats withdrawn / High gas prices raise questions of gouging / Saudi Oil: A Slippery Future? / Bus fleets feeling the fuel pinch / To conserve gas, President calls for less driving / Ottawa hints at energy cost relief / Alberta claims answer to refinery crunch / Big auto makers want Bush to act on energy / Experts push OPEC relocation, Gulf Spot market

Better to cry wolf now than wait until the oil has run out

No one knows how much is left, but humankind can’t wait any longer before coming up with alternatives…I have now read 4,000 pages of reports on global oil supply, and I know less about it than I did before I started. The only firm conclusion I have reached is that the people sitting on the world’s reserves are liars.

OPEC Set to Open Oil Taps Full Blast

Kenneth Deffeyes, former colleague of M. king Hubbert, frequently tells the story of how he knew Hubbert was right about his US oil peak prediction when he read the headline “Texas Railroad Commission announces 100% allowable” in 1971. The American cartel was pumping full blast.

I wonder what he thought when he read this headline…