Paying the Price For Bush’s Retro Energy Policy
When it comes to dealing with the many energy-related crises we’re facing, can the Bushies really go on pretending that their policies are any more forward-looking than a rerun of That ’70s Show
When it comes to dealing with the many energy-related crises we’re facing, can the Bushies really go on pretending that their policies are any more forward-looking than a rerun of That ’70s Show
An up to date and information rich introduction to Peak Oil.
In the space of a couple of hours last week, crude oil prices hit a record $56 a barrel…The converging events drew attention to what administration officials call a temporary global energy crunch. Bigger worries also are bubbling to the surface — fears of a day of reckoning over world oil reserves.
I asked Joe Terranova, director of trading for MBF Clearing Corp., why oil keeps going up and up. “Simple, the cat is out of the bag!” according to Joe. “Traders now recognize, for the first time since oil futures have traded, that there truly exists a demand to supply problem.”
“America’s has its hand in the coconut.”
Abdullah al-Saif, Aramco’s senior vice president for exploration and production, was quoted in the March 14 edition of the Daily Star about future oil production projects in Saudi Arabia. Let us take a look at the projects he named in more detail.
When demand for energy exceeds what the world can supply, everything will begin unwinding, sending us back to local communities – or perpetual war
Oil prices that have hovered around record highs for weeks are likely to continue to be high for another two years because of rising demand and supply constraints, the head of the International Monetary Fund said Saturday.
Eric Sprott could have told you this was coming. Canada’s top fund manager was buying energy stocks long before oil — and other commodities — became the hottest investing trend since the technology bubble. He is wildly bullish about energy. Two words explain why: Hubbert’s Peak.
Energy demand in the United States and China has been relentless. The appetite for more oil in the two fastest growing economies in the world goes on unabated.
The dramatic increase in global demand for oil, and the resulting price spiral in the last couple of months, may be early warnings of a fundamental change in the economies of industrialized nations.
The first two sections of the ‘Hirsch Report’ to the US Dept. of Energy on Peak Oil formatted for the web.