Insight and inspiration in turbulent times.
BUENOS AIRES (Dow Jones)–Argentina and Venezuela will extend this year’s fuel-for-food accord over the coming years, giving Argentina the option to continue importing diesel and gasoil from its South American neighbor, if current gas and power shortages remain a problem.(Adds comments from Planning Minister De Vido’s spokesman saying this year’s $ 240 million fuel contract deal would be renewed in 2005.)
A few months ago waves of information about a theory called “Peak Oil” started to reveal a potential nightmare upon my computer desktop.
It was generally believed that media, as a trustworthy dissemination subsidiary of knowledge, is an independent source of factual information whose purpose is to inform public objectively about current issues based on widest possible range of opinions. Statistics science is a powerful tool in shaping this factual information. Unfortunately it might nowadays used by media as an invisible weapon to promote a particular point of view and to sound more convincing.
Queensland Energy Resources, which runs the demonstration plant, says it will be placed into care and maintenance around September. The controversial project has been plagued by environmental issues.
The House Financial Services Committee in the United States plans to begin a hearing Wednesday on the oil reserve scandal at Royal Dutch/Shell, a move that is sure to expose the company to more public criticism, and could provide additional fuel to class-action suits.
Russian oil giant Yukos faced being torn apart after bailiffs said they would sell off its main operating arm to settle a $3.4bn bill for back taxes.
Given the gravity, immediacy and potentially all-encompassing implications of Colin Campbell’s projection, there must by an urgent government-initiated debate over the validity of the statistics and the potentially devastating short term economic and political implications of oil peaking in next two or three years.
The salient features of the post cheap oil world will be turbulence, economic systems failure, and falling standards of living. The greatest imperatives for Americans will be the reconstruction of local communities and economic networks of interdependency and the re-establishment of local agriculture.
Could the US presidential election be called off? The stakes are high and they include the world oil peak, rants Chuck Richardson.
Venezuelan President Hugo Chavez will visit China in October to talk about oil as China reaches out for more sources of supply to feed its booming economy.
The impending end-of-life of oil and Boomer Babies is the next big challenge to the Green movement in America.
Iran is harboring members of al Qaeda, and the United States is investigating whether the Iranian government had a role in the September 11, 2001, attacks, President Bush said Monday.
