As the world wonders what comes next in the North Korean missile crisis we need to have a look what a military confrontation would mean for Australia. This is important because after 3 refinery closures in Clyde (Sydney), Kurnell (Sydney) and Bulwer (Brisbane), fuel imports from East Asia have replaced previous crude imports coming from a variety of countries outside the Korean conflict zone.
Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time.
The world is in a dangerous place now. A large share of oil sellers need the revenue from oil sales.
There is a case regarding market efficiency for overturning America’s oil export ban, but this is NOT the one the industry is using in its public relations campaign. That’s because increased efficiency in the world oil market would actually make the country’s oil supply more vulnerable to events abroad.
I believe that the Syrian regime’s use of chemical weapons is merely a pretext for American intervention. One always suspects that oil is the real issue when it comes to the Middle East. So, let’s see if that’s the case here.
The Swedish newspaper Svenska Dagbladet has now, 2012 December 23, published my article "EU must drastically reduce its oil imports". In Swedish, "EU måste skära ner sin oljeimport drastiskt". Michael Lardelli has made a great translation of the article and I have added some relevant photos and graphs. Every week you are around 1000 persons that read my blog and I which you all Merry Christmas and a happy new year.