Jack wrote:
But with regard to global geopolitics, I strongly suspect that oil will go to the highest bidder. The problem with taking oil by force is that protecting the needed infrastructure is a big problem. An even worse problem is that a nuclear China might have a strong objection!
airstrip1 wrote:Jack wrote:
But with regard to global geopolitics, I strongly suspect that oil will go to the highest bidder. The problem with taking oil by force is that protecting the needed infrastructure is a big problem. An even worse problem is that a nuclear China might have a strong objection!
I wish I shared your confidence. Unfortunately, history tends to show that nations will wage wars over scarce resources even if it means risking destroying the prize that is being fought over. Just check out how often the word oil crops up in the standard Encarta entry on World War II
http://uk.encarta.msn.com/text_76156373 ... ar_II.html
Colorado-Valley wrote:Trucking companies will be hurt very badly -- even with diesel at only $2.14 a gallon where I live -- for independent truckers this is a killer.
wzx wrote:Lets say, the US Dollar crashes when Arabs refuse to invest in the USA or the Chinese in a suicide mood decide to take down the USA by refusing anymore loans, how will American be able to purchase oil then? With what currency/commodities ? Maybe peak would then be dealyed a couple of years when the greatest consumer does not have the ability to purchase as much ?
Am I understanding this right? The other big players could effectively shut down our economy w/o firing a shot. With the US out of the way, other countries could begin to switch important infrastructure to renewables and start a powerdown?? I understand that if the US dollar tanks, it will cause a world wide depression, yes. However, it the other big players know that PO is knocking at their door and a world wide depression is inevidable , would it not be prudent to get the US out of the picture, both monetarily and (as a result) militarily?
Effectively, they could hand the US a "go to jail, go directly to jail and do not get out of jail" card and then begin to get their houses in order?
For those smart brains in here, is that right?
TripleGemini wrote:Yes, and the bubble just got bigger. It's almost like Bush and the gang are pushing this thing along... but I digress!
Back to the other big players handing the US a "go to jail" card. From reading your posts Monti (which I appreciate greatly btw), I understand that when the bubble pops it will pop for everyone. That beings said however, that if they pop the bubble on purpose, while the US is suffering from a complete collapse in every sense of the word , would they not be able to better "structure" their collapse? The survival of the fittest?
Trip
airstrip1 wrote:Jack wrote:
But with regard to global geopolitics, I strongly suspect that oil will go to the highest bidder. The problem with taking oil by force is that protecting the needed infrastructure is a big problem. An even worse problem is that a nuclear China might have a strong objection!
I wish I shared your confidence. Unfortunately, history tends to show that nations will wage wars over scarce resources even if it means risking destroying the prize that is being fought over. Just check out how often the word oil crops up in the standard Encarta entry on World War II
http://uk.encarta.msn.com/text_76156373 ... ar_II.html
Yemen citizens suffer due to lifting oil subsidy
By: Faisal Darem / Yemen Observer / October 14, 2011
Economic experts confirmed prices increase on oil derivatives or lifting oil subsidy reflected prices increase on all foodstuffs and commodities, which added economic burdens on citizens.
Ahmed Saleh, a 35 old years public employee said “I spend the major of my salary to buy petrol.” He continued saying increasing prices from YR 1500 to 3500 for 20 letters [litres?] added economic burdens such as prices increase including all foodstuffs as well as transportations prices. Economic experts warned against lifting oil subsidy which led to catastrophic affects on people as well as on economy.
Taha al-Fusail an advisor of Ministry of Trade and Industry told YO that the lifting of subsidy oil increase prices of all foodstuffs due to prices increase in transport. He added that the increase of oil prices led to negative effects on investment projects in general as well as several factories closed due to the increase of oil prices. ...
... “Things will get much worse if the crisis continues,” he said. Al-Fusail, said that price increases would create many problems, such as local inflation that would exceed the rate of global inflation, which recorded 12% last year and to up to more 30% by the end of this year due to high prices increase. ...
Gas exports from Yemen's Belhaf terminal halted after assailants attack
Xinhua / October 15, 2011
ADEN/SANAA, Oct. 15 (Xinhua) -- Gas exports from Yemen's Belhaf terminal halted on Saturday after rocket attack by anonymous assailants on a pipeline, which transports gas from Marib province to an exporting port on the Arabian Sea of Belhaf, an engineer told Xinhua.
The local engineer of Yemen's LNG export company led by French oil major Total said on condition of anonymity that gas exports from Belahf terminal was halted after anonymous assailants bombed a key, underground pipeline that extends gas from Marib province to an exporting port on the Arabian Sea.
Early Saturday, a local security official told Xinhua that a pipeline carrying gas from Marib to liquefied natural gas (LNG) plant in Balhaf port was blown up in Shabwa province.
"The targeted gas pipeline located in Rodhoum area, a few miles away from the location of the French giant TOTAL-led Yemeni LNG Company in Balhaf port in southeast province of Shabwa," the official told Xinhua by phone. ...
Yemen LNG Plant Production Halted After Gas Pipeline Attack
By Ayesha Daya and Mohammed Hatem / Bloomberg / October 15, 2011
Yemen LNG, the Arab country’s liquefied natural gas exporter, said production was halted after an attack on a gas pipeline as fighting in the country’s capital, Sana’a, left 16 people dead. ...
... Attacks against the country’s pipeline network have disrupted exports and caused nationwide shortages since protests against President Ali Abdullah Saleh started this year. The Al Shabwan tribe in March blew up part of the pipeline carrying oil from the central province of Marib to Ras Eisa, Yemen’s main outlet for crude exports. The government said it had to raise refined product prices until the line was repaired in July.
... Yemen has the eighth-largest crude reserves in the Middle East and relies on oil sales for 90 percent of its hard currency earnings, according to the U.S. Energy Information Oil Administration. The Arab Peninsula country pumped 260,000 barrels a day of crude last year, down from an estimated 286,000 barrels in 2009 and a 2001 peak of 440,000 barrels, according to the EIA. ...
babystrangeloop wrote:We have reached the point where the system is crashing down faster and harder because of the effects of the system crashing: The Snowball Effect.
dsula wrote:I've been promised a cleansing by Christmas 2008. How long do I have to wait?
papa moose wrote:PS. Chinese Plastic Pumpkins as far as the eye can see, still.
City PMI slides further to 45.9
By Joy Li / China Daily / October 6, 2011
... According to the latest reading of HSBC's PMI released on Thursday, Hong Kong's prevailing business conditions deteriorated further, dipping to 45.9 in September from 47.8 in August, the lowest since May 2009.
A reading above 50 indicates expansion, while that below 50 signals contraction. ...
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