Cheney on Larry King Live Tuesday 9 E.T.
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With the arrival of Peak Oil, the curtain has closed on Act 1 of the drama Petroleum Man. What will happen in Act 2? Chekhov said, "If there's a gun on the wall at the beginning of the play, by the end it must go off." In the world's nuclear arsenal are many guns on the wall. If life copies art, will there be an Act 3 in which the players, having learned their lesson the hard way, live sustainably? To explore these and other questions... FTW's Act 2 Blog. Read, comment, take heart! Orkin
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8 comments:
Big Oil spends more, pumps fewer barrels
LONDON (Reuters) - The world's three largest fully publicly traded oil firms are investing billions of dollars more this year and the extra spending has yet to result in higher production.
Yes, profit margins are beginning to fall because it costs more and more to developed an oil field.
And now GM is desperate for people to buy its trucks.
"GM to offer 0% financing on some full-size trucks"
http://www.freep.com/apps/pbcs.dll/article?AID=/20070730/BUSINESS01/70730055/1118/rss
What if Larry King gave Cheney an interview and nobody asked any questions?
Peak Oil: What's Ahead?
http://www.theoildrum.com/node/2820
From the article:
Strange as it may seem, some of the biggest and most immediate impacts of oil shortages are likely to affect financial markets:
• Declining credit availability. Debt is provided with the expectation that an individual's or organization's income will grow, or at least stay level in the years ahead. If this assumption no longer holds, a shift from the very loose credit standards seen in recent years to extremely tight credit seems likely. A recession or depression is likely to ensue.
• Declining stock prices. The value of stocks reflects the expected future earnings of the company. If these earnings are expected to stop growing, and perhaps shrink, the value of the stock can be expected to decline.
Another Tillman Update: Retired General Censured in Tillman Case
What does Israel have to gain? Oil!
"U.S. checking possibility of pumping oil from northern Iraq to Haifa, via Jordan"
http://www.haaretz.com/hasen/pages/ShArt.jhtml?itemNo=332835&contrassID=2&subContrassID=1&sbSubContrassID=0&listScr=Y
It's useful to remember that Israel imports almost all its oil.
I have always said that "airport security" is actually for demand destruction, and here's evidence that it is having that effect.
http://www.populistamerica.com/why_i_don_t_fly_anymore
There goes the neighborhood.
Dow Jones Agrees to Be Bought by Murdoch
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