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News from February 2011

China has 1.34 bn people

China has 1.34 bn people thumbnail

Wondering how many people does the world’s most populous country have? Well, China has a mind-boggling 1.34 billion people, latest official statistics show. Neighbour India stands second in the global population tally with an estimated figure of 1.2 billion. China’s National Bureau of Statistics (NBS) Monday said that preliminary data showed the country had 1.341 […]


Vermont has become a legal Cayman Islands for the insurance sector

Vermont has become a legal Cayman Islands for the insurance sector thumbnail

A number of commentators have raised the question of whether the low-interest rate policies of the Federal Reserve are stoking global inflation in commodities, food and energy. The answer to that question seems to be yes, but the inflationary pressure caused by the Fed’s purchases of US Treasury debt and zero short term interest rates […]


Peak Oil — New York Times’ Op-ed Gets it Right and Wrong

Peak Oil — New York Times’ Op-ed Gets it Right and Wrong thumbnail

On Friday, two weeks after I discussed the issue at length in the Huffington Post (“WikiLeaks Brings Misguided Joy to Preachers of Peak Oil“) the New York Times found the wherewithal to present us with Michael Lynch’s op-ed, “Drilling For an Oil Crisis.” TheTimes piece covers virtually the same territory, namely that the WikiLeaks revelation of […]


Oil prices are rising fast and it’s come at the worst possible time for the West

Oil prices are rising fast and it’s come at the worst possible time for the West thumbnail

In 2008, oil prices approached $150 per barrel. Shortly afterwards, the global economy collapsed. There were, of course, other problems at the time – an imploding US housing market, the beginnings of a securitisation crisis, the collapse of Lehman Brothers – but events three years ago nevertheless offer plenty of evidence that substantial changes in […]


Peak Oil Blues: Depression isn’t Sadness

Peak Oil Blues: Depression isn’t Sadness thumbnail

Clinical depression is one of those illnesses that, despite the increasing evidence of its absolutely devastating impact on the physiology of the brain, continues to be thought of as a failure of fortitude or spirit. Depression is “contagious,” and is not only hard on those who are depressed, but everyone who cares about them, as well.  […]


Vertical Farming : The Future Of Our Food

Vertical Farming : The Future Of Our Food thumbnail

As the human population continues to grow, the United Nations predicts that in 2012 the human population will approach seven billion, food will become less available. With overpopulation becoming an increasing threat, food sources are sure to grow scarce. www.verticalfarm.com One man has an idea that could help – Vertical Farming. Vertical Farming is the […]


Lower second tier oil producers – Norway, Brazil, Iraq and Algeria

Lower second tier oil producers – Norway, Brazil, Iraq and Algeria thumbnail

This current series of posts is aimed at an overview of the top oil producing nations, seeking to establish how the ranking of the countries is changing from the original table that EIA put out in 2008, After looking at the conditions governing the top six, this was followed last week when I looked at the condition […]


U.S: Environment Agency Moves to Regulate Carbon Dioxide

U.S: Environment Agency Moves to Regulate Carbon Dioxide thumbnail

The U.S. Environmental Protection Agency (EPA) has begun the initial stages of a process that may lead to the federal agency’s first regulations to limit emissions of carbon dioxide from power plants and oil refineries. The agency has held four of five “listening sessions”, including one attended by IPS in Atlanta, Georgia, on Feb. 15. […]


Michael Lynch: Just how vast are Saudi Aramco Reserves?

Michael Lynch: Just how vast are Saudi Aramco Reserves? thumbnail

WikiLeaks trove of diplomatic dispatches continue to trickle out. A recent release has excited the the “peak oil” theorists because it suggests that Saudi Aramco reserves are overstated by 40% and production may collapse. The Saudi official estimate of proved reserves is  267 barrels. Over  the decades, recovery factors have advanced from 10% to 35% […]


Max Keiser – Peak oil story

Max Keiser – Peak oil story thumbnail

The oil depletion will have severe results for everyone, back to the stoneage…but war first.


Gasoline Gangsters Episode 7: Did Cuba Survive Peak Oil?

Gasoline Gangsters Episode 7: Did Cuba Survive Peak Oil? thumbnail

Did Cuba really survive peak oil? Unfortunately Cuba is yet to hit it’s own peak oil production. This week I discuss how this small island nation has the potential to produce 20 billion barrels of oil from the North Cuba Basin. That’s more than the total proven oil reserves of America & double the size […]


NOAA: Climate change could hurt in 30 years

NOAA: Climate change could hurt in 30 years thumbnail

It’s time to take this climate change thing seriously, the National Oceanic and Atmospheric Administration says in so many words. The federal agency posted a story on its online site this past week saying that scientists have found that a heated Earth could result in a number of human afflictions – in 30 years. Among them: […]


Warren Buffett Shareholder Letter – It Appears Peak Oil Was Part Of The Burlington Northern Investment Thesis

Warren Buffett Shareholder Letter – It Appears Peak Oil Was Part Of The Burlington Northern Investment Thesis thumbnail

A great time of the year for Warren Buffett fans. This morning his annual letter to shareholders was released. And as usual it provides us with much to stimulate our investing brains. One thing that I have been hoping to learn is the thinking behind the huge investment Buffett made when he purchased Burlington Northern. Specifically […]


Oil Prices Skyrocket After Williams’ Latest Revelations

Oil Prices Skyrocket After Williams’ Latest Revelations thumbnail

On the day after pastor Lindsey Williams went on the Alex Jones Show and talked about the globalist plan to destroy the dollar and jack up oil prices through the stratosphere in an effort to wreck the economy, the price of oil went up to just short of $100 per barrel. Sources inside the oil […]


The Corn Ultimatum: How long can Americans keep burning one sixth the world’s corn supply in our cars?

The Corn Ultimatum: How long can Americans keep burning one sixth the world’s corn supply in our cars? thumbnail

Bill Clinton warns: Too much ethanol could lead to food riots I am not a fan of our corn ethanol policy as I made clear made clear during the last food crisis (see “The Fuel on the Hill” and “Can words describe how bad corn ethanol is?” and “Let them eat biofuels!“).  In a world […]


It’s The Inequality, Stupid

It’s The Inequality, Stupid thumbnail

A huge share of the nation’s economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244. Carolyn Baker


Iraq’s largest oil refinery shut by bombing

Iraq’s largest oil refinery shut by bombing thumbnail

Militants attacked Iraq’s largest oil refinery on Saturday, killing four workers and detonating bombs that touched off a raging fire and shut down the plant in northern Iraq, officials said. In the southern town of Samawa, a second refinery was shut down by fire but officials said initial reports indicated it was started by a […]


The Oil-Fired, Grain-Fed Global Food Crisis

The Oil-Fired, Grain-Fed Global Food Crisis thumbnail

In other articles I have made the claim that because of our industrial food system, oil, food and population are inextricably linked. I have also claimed that a contraction in the world oil supply would cause a similar contraction in the world food supply, threatening the human population. This article fleshes out those claims a […]


Full devastating effects of Gulf oil disaster could take a decade to emerge, says scientist

Full devastating effects of Gulf oil disaster could take a decade to emerge, says scientist thumbnail

The full extent of the damage caused by the BP oil disaster last April may not become apparent for at least another decade, says Samantha Joye, a professor in the Department of Marine Sciences at the University of Georgia. Contrary to claims made by BP’s compensation fund that the Gulf will fully recover by 2012, […]


Wiarton Jeff’s peakonomics

Wiarton Jeff’s peakonomics thumbnail

The surge in oil prices in the wake of Libyan turmoil has inevitably brought the Peak Oil groundhogs out of their burrows. Wiarton Jeff Rubin, former chief economist for CIBC, was on the CBC’s The Current on Wednesday, and in The Globe and Mail on Thursday, claiming that further sharp price increases could be on the immediate […]


Acknowledging Peak Oil, featuring Sadad al-Husseini

Acknowledging Peak Oil, featuring Sadad al-Husseini thumbnail

Five leading petroleum industry experts discuss the major production challenges posed by oil depletion. While new fields are being discovered, the steady pace of depletion, a growing world population, and diminished investment in new exploration and production point to a constrained world oil supply in the next few years. This video features Sadad al-Husseini, Jeremy […]


World Oil Supplies as Reported in EIA’s most recent International Energy Statistics

World Oil Supplies as Reported in EIA’s most recent International Energy Statistics thumbnail

My post is mainly an update to Global Oil Supplies as Reported by EIA’s International Petroleum Monthly (IPM) for November 2010, based on data which the EIA reported in the past few weeks in their final edition of IPM and in their International Energy Statistics. I will also briefly present updated information regarding OECD and Non […]


MICHAEL LYNCH: Drilling for an Oil Crisis

MICHAEL LYNCH: Drilling for an Oil Crisis thumbnail

AS WikiLeaks’s trove of diplomatic dispatches continues to trickle out, one recent release has caused quite a stir: a cable from an American diplomat who said he was told by a Saudi oil executive that both official estimates of Saudi oil reserves and their ability to meet global demand in the long run have been vastly […]


Book Review: Crude World The Violent Twilight of Oil

Book Review: Crude World The Violent Twilight of Oil thumbnail

One thing that quickly becomes clear from reading Crude World: The Violent Twilight of Oil, is that its subtitle is misleading. Violent twilight? A reader might expect to be heading into the territory of writer James Kunstler, who argues that a coming global shortage of oil is going to turn our petroleum-powered lives upside down, and […]


Iraqi PM to country: Stay away from Friday protest

Iraqi PM to country: Stay away from Friday protest thumbnail

Iraq’s prime minister warned his people to boycott a planned anti-government protest scheduled for Friday, saying it was being organized by supporters of Saddam Hussein and al-Qaida. Prime Minister Nouri al-Maliki gave no proof for his assertion in a nationally televised speech Thursday, which echoed similar blanket statements he’s made blaming terrorists and Saddam loyalists […]


Tom Friedman: $1-a-gallon gasoline tax

Tom Friedman: $1-a-gallon gasoline tax thumbnail

“America, you have built your house at the foot of a volcano. That volcano is now spewing lava from different cracks and is rumbling like it’s going to blow. Move your house!” In this case, “move your house” means “end your addiction to oil.” No one is rooting harder for the democracy movements in the […]


Saudi Arabia in talks to boost oil output

Saudi Arabia in talks to boost oil output thumbnail

Saudi Arabia is in “active talks” with European oil companies to meet the production shortfall left by Libya, the clearest indication to date that the leader of the Opec oil cartel is about to boost supplies to stop further rises in the oil price, which surged to near $120 a barrel on Thursday. Riyadh is […]


Libyan Oil Grinding to a Halt

Libyan Oil Grinding to a Halt thumbnail

Here’s the latest: At least 300kbd-400kbd of oil production are shut-in already, and likely more, but the situation is still confusing. As much as a quarter of Libyan oil output has been shut down, Reuters calculations showed on Wednesday, as unrest prompted oil companies to warn of production cuts in Africa’s third-largest producer. Austria’s OMV said […]


Greg Palast: We’re Not Running Out of Oil, Just Cheap Oil

Greg Palast: We’re Not Running Out of Oil, Just Cheap Oil thumbnail

In this eighth video in the series “Peak Oil and a Changing Climate” from The Nation and On The Earth Productions, investigative journalist and author Greg Palast says the era of cheap fuel is over. Now energy companies are scouring the globe for oil, often extracting resources in more expensive and more environmentally sensitive conditions. […]


Thousands protest against high food prices in India

Thousands protest against high food prices in India thumbnail

Thousands of people have gathered in the Indian capital, Delhi, to take part in a rally to protest against rising food prices and unemployment. A steady stream of protesters, carrying red flags, has been marching through the streets of central Delhi since early morning. The rally has led to massive traffic jams in the city. […]


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