Don’t be Surprised at Fabricated Terrorist Event to Cancel Federal Election
Certainly the leaders of both American political parties know about Peak Oil, including Kerry/Edwards, yet public discussion is off the table.
Certainly the leaders of both American political parties know about Peak Oil, including Kerry/Edwards, yet public discussion is off the table.
Is it possible that we are about to run short of the source of a third of the world’s energy?
Asia’s economies have been able to withstand this year’s surge in oil prices but the relentless climb is starting to take its toll and high growth rates are now in jeopardy, analysts said.
Mark Braly reports from the German Government’s Renewables 2004 conference in Bonn, that “something else, not new but more urgently felt, was in the air at the conference. The expert consensus now holds that the peak of world oil production is near – if it has not already happened.”
The west should be embarking on a serious rather than cosmetic attempt at energy conservation. Those who hold out the prospect of a glittering medium-term future for the global economy are perhaps not in full possession of the facts.
The work of Campbell and Laherrere demonstrates that a number of large producers have reached their peak in production while even the Middle East production will soon peak.
Oil discoveries provide resources to some low-income countries on a scale that dwarfs aid. Yet their effects have often been adverse.
In Iraq, to find out how the soldiers feel about the war and the Bush administration, you only need to read the walls inside the latrines.
Although the former Soviet Union has pumped crude for years, only recently has Russia emerged as the world’s second-biggest oil exporter and — if the Bush administration has its way — a potentially important new supplier of both oil and gas to the United States. Russia’s crude oil production rivals that of Saudi Arabia, and analysts say its reserves could provide the output answer for the United States, China, South Korea and Japan, which have grown increasingly wary of their dependence on producers in the Middle East.
No oil company wants to be the first to face stock market meltdown by announcing their production is in decline, no government wants to be voted out for such bad news.
One expert has picked an Armageddon date for the peak of oil production: Thanksgiving 2005. The slow decline in world supplies will start then.
Surprise! We’re in the midst of an oil shock and its impact could be as nasty as the first three, writes David Potts.