Politics

Spare capacity theory

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In truth, the spare capacity that the world cares about — that the oil futures market cares about — is not the inventory level. But rather, actual production capacity that can be brought on immediately. You can see the problem, from a price standpoint. If the world loses Libya’s 1.5 mbpd production for 90-120 days, and starts drawing down above-ground inventories, this only makes the inventory cushion that much thinner for any new supply disruptions. The question on the mind of the oil market therefore is not Mr. Fyfe’s 1.6 billion barrels of crude, but whether countries like Kuwait, the U.A.E. and especially Saudi Arabia or even Russia can lift supply. Immediately.

Wisconsin: The first stop in an American uprising?

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“We demand that before the hard-working, tax-paying families of this country are once again forced to sacrifice, the corporations who have so richly profited from our labor, our patronage, and our bailouts be compelled to pay their taxes and contribute their fair share to the continued prosperity of our nation. We will organize, we will mobilize, and we will NOT be quiet!”

Consciousness rising, world fading

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Our stories of awakenings — whether moral, intellectual, religious, artistic, or sexual — are tricky. Honest self-reflection doesn’t come easy, and self-satisfied accounts are the norm; we love to be the heroes of our own epics. … The longstanding discomfort in telling my story is further complicated by new concerns in the past few years. More than ever I’m aware that no matter how high anyone’s consciousness in the United States is raised, there may be very little we can do to reverse the consequences of modern industrial society’s assault on the living world.

Making Egypt more food secure

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Egypt faces daunting challenges as it prepares for broad presidential and parliamentary elections within a year. Ongoing volatility in global food prices will strain resources during this critical transitional period. As the world’s largest importer of wheat, Egypt is acutely vulnerable to any surge in food prices. Wheat prices have risen 47 percent over the last year and other staples are rapidly approaching dangerously high levels.

Where the demonstrators wave black flags: Algeria, Part 1

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As elsewhere in the region, the main foreign powers involved — France, Spain, and the US — don’t seem to care much as long as the oil and gas flows, the country implements World Bank/IMF structural adjustment programs to modernize the oil industry to increase output, and their ‘strategic interests’ are protected. As long as these things happen, the country can go to hell in a hand basket – as it has. None of them have lifted a finger in protest to government practices and corruption.

Economic and environmental perspective on President Reagan on the occasion of the 100th anniversary of his birth

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Amid all the celebration of the 100th anniversary of the birth of Ronald Reagan, it is important to note that his two-term presidency kindled a philosophy that has undermined governance in the United States, run in the opposite direction from a sustainable economy, and exhibited hostility toward a clean energy basis for the global economy. This was not, however, a strategy shared broadly by the Republican Party at that time.

Why Saudi is now in play

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Oil prices are going through the roof today, and gasoline prices at the pump will follow, as we get the first regime-rattling news in a major oil-producing state. What’s happening is that the sketchy news out of Libya makes the country look like it’s on fire – Col. Muammar Qaddafi may be spending his last days in power. And even though no oil supplies have been disrupted, traders are engaging in some casino behavior and bidding up prices to new two-year highs.