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Peak Oil News Wednesday August 16th 2006
Oil binds U.S., Latin nemesis
Mike Trager doesn't seem like the sort of guy who shapes the destiny of nations. A modest, easygoing man, Trager works for A1 Cab in suburban Elgin, Ill. One Friday at 11:30 a.m., Trager stopped by the Marathon station. He was a regular. He pumped $38 worth of gas into his taxi minivan. His radio then crackled, and a terse voice ordered him to pick up a fare at the public-aid office. His take: $3.20, no tip.
Oil, water, weather crises will hit cities
Municipalities are facing a "perfect storm" once the era of cheap oil, cheap water and altered weather patterns hits with full force, says Ontario's environmental commissioner. In a chilling speech to municipal leaders yesterday, Gord Miller said municipalities are not ready for the massive effect on communities. "We are entering a period of consequences," said Miller. "Our present public policy is inadequate to deal with these immense problems that are upon us right now."
Robert Rapier talks about Vinod Khosla, Proposition 87, peak oil, and the need for transportation electrification
On Sunday, August 13, 2006, Mr. Rapier posted a blog entry entitled "California's Proposition 87", in which he talks about the $4 billion oil extraction, depletion, severance, wellhead 'tax which can't be passed through to consumers', "Clean Alternative Energy" initiative on the November 7, 2006, ballot. This piece is, in a sense, a follow-up to his July 24, 2006, posted entitled "Vinod Khosla Debunked," Mr. Khosla being the legendary venture capitalist, co-founder of Sun Microsystems, and the guiding spirit behind Proposition 87 (in essence, its lead V.C.).
American dependence on oil
This week the Seattle Times is running a series on American dependence on oil, and peak oil in four parts. The series speaks to the growing awareness of the major economic shocks when you run short on pumpable oil supply. It doesn't have to be a worst-case scenario - the world's economy is already performing like a drunk stumbling along a cliff. In that context, it's hard to see what good a $5 billion tunnel would do, except make it easier to leave Seattle during the recession.
Rough ride after oil production peak
While a growing chorus of voices has been trying to get the public's attention about our "oil problem," little in-depth analysis has appeared in the national media. An essay for this page Monday described an "oil shock wave" as the problem. The real problem is much more serious. A "wave" is a disturbance which moves on with the medium returning to its previous level. With regard to oil, this is what we experienced in 1973 and 1979. In those cases, oil was embargoed temporarily with price and supply shocks. Today, we have a looming crisis which will not be temporary.
Economist reports Saudi oil production can continue unabated
In its August 10 edition, The Economist magazine asserts that Saudi Arabia can continue producing oil at its current production levels for 70 years, without having to look for another drop. Further, the magazine claims that the nation could find "plenty more if they look", calling for privitisation of national oil companies to help increase oil production. The language is provocative - the world has plenty of oil, and only requires sufficient investment and exploration to find it. This is a line that The Economist has held for some time, certainly since before its now infamous March 1999 issue proclaiming that we were "drowning in oil" and featuring a prediction of US$5 per barrel. That issue was followed by an embarrassing retraction in December of that year, as oil started its steady climb. It now sits above US$70 per barrel.
Kicking Butt by Kicking the Oil Habit
Last week’s terrorism news hides an elephant in the room: Everyone applauds the arrest of the two dozen terror suspects who plotted to blow British airplanes out of the sky ... and they cheer as banks freeze their private accounts ... but they ignore the fact that much of al Qaeda’s money comes from Saudi Arabia. Although the Saudi government is very active in fighting terrorism, Saudi money also supports the spread of the radical version of Islam espoused by Osama bin Laden. Heck, some Saudis directly finance terrorists. Earlier this month, for example, the Treasury Department said it would freeze assets belonging to Abd Al Hamid Sulaiman Al Mujil, a Saudi national, because he provided financial support to the al Qaeda terror network.