... or doomsday!
... the Soviet Union was much better-prepared for economic collapse than the United States is.
Closing the 'Collapse Gap': the USSR was better prepared for peak oil than the US
It's true. Only The Economist knows for sure, you know? That is why it features articles often which deal with oil / energy issues. Mind you, The Economist always skirts this simple fact: [more]
... no kidding! :) [more]
We, Albertans - do it all for you, Amerika! It's true, ...
Excellent article, worth getting a hard copy of - June 2008 issue:
The amount of water the oil-sands plants use is equal to about 40 pecent of Totonto's yearly water consumption. [....]
The industry scrapes 5,000 tonnes of material, both overburden and sand, off the Earth's surface every single minute of every single day.[...]
This is not a government [the Government of Alberta] capable of dealing with the bigger picture. I think it's paralzed.[....]
We've got enough dirty fuel out there to turn the planet into Venus if we want to.[....]
"There must be some way out of here," said the joker to the thief,
"There's too much confusion, I can't get no relief.
Businessmen, they drink my wine, plowmen dig my earth,
None of them along the line know what any of it is worth."
"No reason to get excited," the thief, he kindly spoke,
"There are many here among us who feel that life is but a joke.
But you and I, we've been through that, and this is not our fate,
So let us not talk falsely now, the hour is getting late." - Bob Dylan
C., ... watching - locally, this economic and environmental disaster moving closer and closer towards a cliff's edge [ ... as current talk remains rhetoric and sophistry!] [more]
.... We’ve arrived at maximum global oil production. It means that oil production is going to decline in a few years or months. It means that America’s global dominance is coming to an end, and another era is about to be born. Money is being siphoned from the oil importing countries to the oil exporting countries at an accelerating rate. Most significant of all, the power bled from one great power is bound to accrue to another. Russia is an oil exporting country, and Russia’s strategic position is rapidly improving. Beginning with 2003 (when the U.S. invaded Iraq), the balance of power has been shifting from West to East. Some weeks ago I spoke with Andrei Illarionov, a former Kremlin economic advisor. Possessing some knowledge of oil’s relationship to economic conditions, he told me that America’s invasion of Iraq is definitely related to higher oil prices. [more]
ABERDEEN, Scotland, May 21 (Xinhua) -- After successfully forecasting current oil prices at the first All Energy conference in 2001, John Westwood, an energy expert, said here on Wednesday that "more pain is to come" for world energy.[....] [more]
It's a move that should have been on the front page of every newspaper and that should have led every news broadcast the day it was announced. The world's largest exporter, an exporter that every major oil-consuming nation had been counting on to boost production to at least 15 million barrels per day over time, had just told the world that it wasn't likely to get what it wanted. [more]
.... The lesson of those EIA forecasts is twofold. First, trying to predict short-term price fluctuations is a mug's game. They might go up, they might go down, and nobody knows which. Second, the overall trend is nonetheless up. Eventually, high prices will reduce demand and prices should level out a bit, but this might take a while since energy consumption is famously inelastic in the short term. But that's what it's going to take: change in the real world. This isn't a bubble, it's Adam Smith in action. [more]
... The fact is, America's wealth and power has long rested on the abundance of cheap petroleum. The United States was, for a long time, the world's leading producer of oil, supplying its own needs while generating a healthy surplus for export.
Oil was the basis for the rise of first giant multinational corporations in the U.S., notably John D. Rockefeller's Standard Oil Company (now reconstituted as Exxon Mobil, the world's wealthiest publicly-traded corporation). Abundant, exceedingly affordable petroleum was also responsible for the emergence of the American automotive and trucking industries, the flourishing of the domestic airline industry, the development of the petrochemical and plastics industries, the suburbanization of America, and the mechanization of its agriculture. Without cheap and abundant oil, the United States would never have experienced the historic economic expansion of the post-World War II era. ....
.... Domestic oil production reached a peak in 1970 and has been in decline ever since -- with a growing dependency on imported oil as the result. When it came to reliance on imports, the United States crossed the 50% threshold in 1998 and now has passed 65%.
Though few fully realized it, this represented a significant erosion of sovereign independence even before the price of a barrel of crude soared above $110. By now, we are transferring such staggering sums yearly to foreign oil producers, who are using it to gobble up valuable American assets, that, whether we know it or not, we have essentially abandoned our claim to superpowerdom.
According to the latest data from the U.S. Department of Energy, the United States is importing 12-14 million barrels of oil per day. At a current price of about $115 per barrel, that's $1.5 billion per day, or $548 billion per year. ...
The United States represents a highly risky investment climate! [more]
And why not? The price of oil has been setting consecutive record highs, with no end in sight! This oil price creep has crept up on us over the last four years, doubling the historical average price of oil, doubling it again, and now Goldman Sachs is telling us we are due for a third doubling: [more]
"There is no blueprint in place, and this is a global problem. The longer the blueprint is postponed, the more acute the crisis will get," [more]
.... soaring costs of energy and food are among the ways that a market-based society attempts to maintain equilibrium when supply fails to keep up with potential demand. Rationing by price is a profoundly inequitable way to sort out who gets food and energy in a time of shortages, and who does not, but unless the industrial world goes through drastic political changes in the very near future, it’s the way we’re stuck with, .... [more]