Crest Or Trough?
The doomsayers say they will stabilise at $70; the optimists argue they will tumble to $15. Outlook examines arguments on both sides of the oil divide.
Oil
Richard Heinberg Interviewed by Jim Pupluva (transcript)
Jim Puplava: Welcome everyone. Joining me on the program today is Richard Heinberg. He has been writing about energy resource issues and the dynamics of cultural change for many years. He’s a member of the core faculty at New College of California and he’s an award-winning author of three previous books. His last book is called The Party is Over; his newsletter was nominated for the best alternative newsletter award; his new book is called Power Down: Options and Actions for a Post -Carbon World.
Japan: Crude oil prices bode ill for economy
As crude oil prices soar to their highest levels ever, costs of related products and services such as petrochemical products and international airfare are being yanked up along with them, threatening economic growth.
We’ll be looking at $50 oil, and likely by next winter.
The US presidential candidates don’t have workable plans and things will only get worse.
Oil prices brake the boom in India
After last year’s spectacular performance, India’s economic growth is being jeopardized by the double impact of rising global oil prices and a faltering monsoon.
The Boom that only Oils the Wheels of Corruption
Oil profits in Africa have been used almost exclusively for the enrichment of the countries’ leaders, and as a consequence most of the population remains poor and unprotected.
Economic risks of high oil prices
Record-high oil prices signal new danger to the economy, as rising costs ripple into everything from floral deliveries to the production of plastic toys and orange juice.
Yamani: Speculators driving oil surge
Saudi Arabia’s Sheikh Ahmed Zaki Yamani — the face of the OPEC oil cartel during the 1970s oil price shocks — says this time it is big-money speculators to blame for surging prices and confidently predicts the scare will not last.
Oil supply threatens world economy
Fears that the world economy could be derailed by higher energy costs intensified on Wednesday night after the price of oil set fresh records on both sides of the Atlantic.
Fuel stocks adequate, PERTAMINA assures Indonesians
State-owned oil company Pertamina has assured Indonesians that the local fuel supply will remain safe despite the soaring price of oil on global markets.
World Bank agrees to continue oil, gas lending
The World Bank this week agreed to continue making investments in oil, gas and mining, setting aside an independent review’s recommendations that it phase out lending for such projects.
Japan and Iran: Partners in Oil
The United States is attempting to convince Japan to ditch Iran as an oil supplier in favor of Libya. Though such an arrangement would greatly assist U.S. strategic aims in the Middle East, it would make sense to Japan only if Iran were plunged into war.
