October 10, 2008 –
Richard Heinberg just posted a new essay in which he concluded that "The worldwide financial crisis, and the decline in available energy, mean that we may also have seen the final year of aggregate world economic growth." [more]
October 09, 2008 –
Say Goodbye to Peak Oil
Richard Heinberg, Post Carbon Institute
Now that the world’s credit markets are suffering the equivalent of a cardiac arrest, one can confidently say that the peak in global oil production is behind us. With demand for oil declining (because of global recession), OPEC will want to constrain production. With investment capital disappearing in a deflationary bonfire, oil companies will have difficulty financing new projects (even if they have full governmental go-ahead to drill, baby, drill). Thus even though the peak might have been delayed for another year or five if the credit crunch hadn’t intervened, that time cushion is now effectively gone.
This is not to say that Peak Oil should no longer to be considered to be of importance. In the larger, longer view of things, the energy decline will be the determining factor in the fate of our civilization—not a money or credit crisis. [more]
October 07, 2008 –
Herman Daly on the Credit Crisis, Financial Assets, and Real Wealth [more]
October 04, 2008 –
Here's an insightful post from Green Wombat [more]
September 29, 2008 –
"gasoline inventories have declined to record low levels. At 179 million barrels, total motor gasoline inventories stand at the lowest level since 1967, based on monthly EIA data. Continuing reports of spot shortages of gasoline at some retail outlets where supplies have been most disrupted can be expected over the next several weeks." [more]
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