Peak Oil Passnotes: The Race to the Bottom (of the Barrel)

It has been another week of crude oil records as the Nymex breached $103 per barrel and event Brent crude topped $100.

One of the reasons is that the Wal-Mart economy of the world, bargain basement U.S., has once again seen its currency rupture a little bit more. Stacking high and selling your countrymen cheap, either out on to the streets due to defaulted mortgages or on the fields of imperial war around the world is not really working as an economic plan for U.S. power.


The fall of the dollar was one of the factors – alongside Hugo Chavez and ExxonMobil