Peak oil hits the air waves

[krakknisse]

Peak oil is getting a lot of coverage now. Links below, just taken off of Google News. The quick summary of all of them is "speculation" vs. "peak oil". Nobody seems to connect the dots between credit boom crack-up that leads to "speculation" (protection in hard assets). Other ITulip threads here:
1. The Last Time We Had Peak Oil
2. Peak Oil - Has It Been Pushing Up Prices?

The most astonishing is perhaps that the Washington Post features James Howard Kunstler. Letting Kunstler in is pretty rare, though he has toned down his pitch for this audience. Howard Kunstler is an absolute over-the-top doom-and-gloomer. I find myself googling for seeds and generators after reading him. Even the Wall Street Journal gives significant coverage to the IEA pessimistic supply outlook, though it does not use the phrase "peak oil".

If the peak oil meme catches on, expect an ever faster rise in oil prices, sort of a self-fulfilling prophesy. I still think the actual peak, absent the current credit crisis, wouldn't be that dramatic - more drawn out. Expect more government meddling to worsen the situation. But my god, if we've actually hit peak and the market is going to price that in. You will twist your neck just looking at the geopolitical implications on a map.


Washington Post: Wake Up, America. We're Driving Toward Disaster
Wall Street Journal: Energy Watchdog Warns Of Oil-Production Crunch
The Guardian: $135 and rising ... has cheap oil gone for ever? Uses the phrase "peak oil"
The Telegraph: Cheap oil is history. But why? - "peak oil conspiracy theories are passing into the mainstream"
US News & World Report: Wall Street Succumbs to Peak Oil
Check out the results of their online poll. Peak oil completely dominates the answers:

Sydney Morning Herald: Peak oil hits new heights and the view is not pretty
Peak Oil on Google Trends:

[GRG55]

Re: Peak oil hits the air waves

Peak oil is getting a lot of coverage now. Links below, just taken off of Google News. The quick summary of all of them is "speculation" vs. "peak oil". Nobody seems to connect the dots between credit boom crack-up that leads to "speculation" (protection in hard assets). Other ITulip threads here:
1. The Last Time We Had Peak Oil
2. Peak Oil - Has It Been Pushing Up Prices?

The most astonishing is perhaps that the Washington Post features James Howard Kunstler. Letting Kunstler in is pretty rare, though he has toned down his pitch for this audience. Howard Kunstler is an absolute over-the-top doom-and-gloomer. I find myself googling for seeds and generators after reading him. Even the Wall Street Journal gives significant coverage to the IEA pessimistic supply outlook, though it does not use the phrase "peak oil".

If the peak oil meme catches on, expect an ever faster rise in oil prices, sort of a self-fulfilling prophesy. I still think the actual peak, absent the current credit crisis, wouldn't be that dramatic - more drawn out. Expect more government meddling to worsen the situation. But my god, if we've actually hit peak and the market is going to price that in. You will twist your neck just looking at the geopolitical implications on a map.


Washington Post: Wake Up, America. We're Driving Toward Disaster
Wall Street Journal: Energy Watchdog Warns Of Oil-Production Crunch
The Guardian: $135 and rising ... has cheap oil gone for ever? Uses the phrase "peak oil"
The Telegraph: Cheap oil is history. But why? - "peak oil conspiracy theories are passing into the mainstream"
US News & World Report: Wall Street Succumbs to Peak Oil
Check out the results of their online poll. Peak oil completely dominates the answers:

Sydney Morning Herald: Peak oil hits new heights and the view is not pretty
Peak Oil on Google Trends:

These days there's not a lot of original thought or original journalism out there in the Main Stream Media. Lazy journalists, which are, alas, in more plentiful supply than gallons of diesel fuel at present, just pick up what others have already been writing. That's why MSM is just an echo chamber.

All we need now is another pro athlete in court on rape charges (Kobe Bryant), an eccentric celebrity accused of child molestation (Michael Jackson), or another LaShaun Harris or Andrea Yates (God forbid), and Fox News followed by CNN and the others will stampede off to fill the airwaves with something new, pushing all that talk of peak oil and gasoline prices into the background once again. I give it no more than 10 days. Max.

[Starving Steve]

Re: Peak oil hits the air waves

Some addition:

Add the Sierra Club and Greenpeace with all of the other anti-nuclear power eco-frauds together onto

no new nuclear power plants built in the US in decades ( and many closed )

plus the Islamo-fascists with a hidden agenda of starving the Western democracies by withholding oil

plus Islamo-fascist power from all of the US dollars they hold

plus a possible war with Iran coming in future

plus Hummers, SUVs, pick-ups, and the Detroit mentality in the US

plus solar power solutions (a real sick joke)

plus ethanol made from corn (another sick joke)

plus windmills (another sick joke)

plus no drilling for oil off the East Coast of the US, nor the West Coast of the US nor in Anwar, nor any oil taken from stripper wells because of the EPA demanding that stripper wells be cemented-up and closed

plus no drilling for oil in Southern California

plus no development of synthetic oil made from coal

plus peak oil reached around 1970

plus no new dams in the US or Canada in decades

plus high cost real estate forcing workers to commute longer distances

plus no planning for the future whatsoever

plus an arrogant (devil may care) attitude in the US, especially by drivers

plus the Federal Reserve devaluing the dollar

plus savers moving their savings OUT of the US dollar and into oil and commodities because the Federal Reserve has set interest rates far too low for far too long

plus Bernankee's attitude of screwing the savers in every way possible (with negative real interest rates, currency devaluation, taxation of interest, with mis-leading government statistics on inflation, with a hidden pro-inflation agenda, etc.)

plus booming economies nearly everywhere in the world EXCEPT in the USA

EQUALS $131 per barrel oil priced in US dollars.

And to think, these could be "the good old days"; just wait..... With the idiots now running the US in Washington, you could see much higher energy prices ahead. And we have the eco-frauds on the West Coast and up in British Columbia... Just wait.... This could be just the beginning of ....

[GRG55]

Re: Peak oil hits the air waves

Some addition:

Add the Sierra Club and Greenpeace with all of the other anti-nuclear power eco-frauds together onto

no new nuclear power plants built in the US in decades ( and many closed )

plus the Islamo-fascists with a hidden agenda of starving the Western democracies by withholding oil

plus Islamo-fascist power from all of the US dollars they hold

plus a possible war with Iran coming in future

plus Hummers, SUVs, pick-ups, and the Detroit mentality in the US

plus solar power solutions (a real sick joke)

plus ethanol made from corn (another sick joke)

plus windmills (another sick joke)

plus no drilling for oil off the East Coast of the US, nor the West Coast of the US nor in Anwar, nor any oil taken from stripper wells because of the EPA demanding that stripper wells be cemented-up and closed

plus no drilling for oil in Southern California

plus no development of synthetic oil made from coal

plus peak oil reached around 1970

plus high cost real estate forcing workers to commute longer distances

plus no planning for the future whatsoever

plus an arrogant (devil may care) attitude in the US, especially by drivers

plus the Federal Reserve devaluing the dollar

plus savers moving their savings OUT of the US dollar and into oil and commodities because the Federal Reserve has interest rates set far too low for far too long

plus Bernankee's attitude of screwing the savers in every way possible (with negative real interest rates, currency devaluation, taxation of interest, with mis-leading government statistics on inflation, with a hidden pro-inflation agenda, etc.)

EQUALS $131 per barrel oil priced in US dollars. Enjoy. :rolleyes:

Lukester tried to warn you...

[Mega]

Re: Peak oil hits the air waves

Where is Luke?
Mega

[Starving Steve]

Re: Peak oil hits the air waves

I was just reading a bit of Charley Maxwell's comment which Luke posted, and my God, Charley Maxwell is absolutely right.

Remember, it will take ten or twenty years to build the nukes.

And it will take ten years to replace the US auto fleet.

It will take 10 years to build the dams, at least.

The deep-water oil drilling in the Gulf of Mexico will take ten years. The drilling off the California coast will also take 10 years. East Coast oil drilling will take 10 to 20 years because the oil has not even been located---- if there is any oil there to be found.

Unless the US goes to war with Iran, this looks like a real deep, painful, and long recession.

Assuming no war in future with Iran, the top in oil looks more like $300, not $150 because it might take $300 oil to start drilling the Gulf of Mexico and pumping oil from the deepest waters there. Then once the oil starts to come in, the price may fall back to $150. (That is what I was reading---- a truly scary scenario indeed.)

Electric cars would mitigate the need for all of this oil, but we don't have the electric cars yet. We don't have the nuclear power yet........ Oh this is ugly!:eek:

[GRG55]

Re: Peak oil hits the air waves

Where is Luke?
Mega

He's in a pistol duel over in Finster's section. In fine form too, which is good to see.

[jtabeb]

Re: Peak oil hits the air waves

Unless the US goes to war with Iran, this looks like a real deep, painful, and long recession.

I'm sorry, but you are absolutely ******* RETARDED if you think that war with Iran will do anything but send the oil price to the God-Dammed moon.

(and I know what of I speak, unfortunately, this seems to be the course of the way things are headed, this coming war could also be being priced in the oil market right now)

I will say this for any stupid freaking idiot that thinks war with Iran is a good idea, it is not and people "in the Know" know it's not.

That's about as specific as I can get, sorry.

Google me and you'll see why I can't say more that this.

Maj. jamal tabeb USAF, take my word for it, okay?

( FYI I'm speaking as a us citizen, my views should not be taken in anyway to represent the position of the USAF or the DOD)

[Shakespear]

Re: Peak oil hits the air waves

I completely agree. Very stupid to even suggest or put the words down anywhere that war with Iran would bring anything positive.

Want some alternate geopolitical analysis than read here

http://www.atimes.com/

No one in their sane mind (except Hagee supporters) would contemplate war. With US capabilities there is no way that Iran could "surprise" with a first strike. Iranians are no dummies and know that there would be shower of nukes on them if it happened.

Israel might want this war just to keep the balance of power in their favor so that it can do what ever it wishes, lawfully or not.

[Slimprofits]

Re: Peak oil hits the air waves

Unless the US goes to war with Iran, this looks like a real deep, painful, and long recession.

How does a war with Iran stop the recession?

[Starving Steve]

Re: Peak oil hits the air waves

How does a war with Iran stop the recession?

Maybe the U.S. should present the Iranians an itemized bill for creating terrorism around the world, including a bill for 9/11?

Listen, I hate American jingoism more than anyone here, but the Islamo-fascists are very dangerous. And they mean what they say: They will destroy Isreal and the West. They will get a nuclear weapon, and they will use it immediately.

Certain terrorists are not so dangerous, and you can negotiate with them. But other terrorists are deadly serious, and they mean what they say.

For example, the British could negotiate with the IRA to secure a peace in Northern Ireland, but the British could not negotiate with the Nazis. No-one could. History showed this conclusively with the failure of the Chamberlin trip in 1938.

If the Islamo-fascists can not pay their bill, they should be dealt with accordingly. Their oil fields should be ceased.

In a perfect world, the World Court would be the place to present the bill initially, but I have no confidence in the UN and its World Court now. So, the U.S. might have to present the bill directly to the Iranians. That is a bad precedent to set, but appeasing those terrorists is a worse precedent to set.

Thinking about the Islamo-fascists in Tehran, the U.S. government has been appeasing them since the illegal ceasure of the US embasy back in 1979. The entire world can see what that appeasement by Jimmy Carter has brought to the world--- in Lebanon, in Iraq, in Gaza, in Iran, in Sudan, in the Bali bombing, in the Madrid bombing, in the 9/11 attacks, etc.

Unlike the neo-cons, I do NOT believe in militarism nor endless military spending, but I do believe in "peace through strength".... Margaret Thatcher had the right idea in the way she handled the Falklands Crisis.

[GRG55]

Re: Peak oil hits the air waves

[quote=Starving Steve;36691]Maybe the U.S. should present the Iranians an itemized bill for creating terrorism around the world, including a bill for 9/11?

[quote]





Steve:

1. The Iranians have no affiliation with Al Qaeda. The Iranians are firstly not Arab, and secondly not Sunni (they are Persian Shi'ites). Al Qaeda and the Iranians regard each other as apostates. I cannot emphasize that enough. They detest each other.
2. To my recollection there were no Iranians in any of the airplanes on September 11, 2001. But there were 15 Saudis, two from the UAE and one each from Egypt and Lebanon.

[Starving Steve]

Re: Peak oil hits the air waves

I think your point is well taken: The flyers who flew perpetrated 9/11 were from Saudi Arabia, not Iran.

However, the Iranians have been aiding the Islamo-fascists in Iraq, Syria, Lebanon, and Gaza. They fund Hesobollah and Hamas. And they might be funding Al Qaide, as well.

Trying to pin-down who is responsible for what is problematic in the Middle East, so I think you have made your point: Who do we give the bill for terrorism to, and for exactly what deeds?

If we might give a bill for 9/11 to the Saudis, they would answer that the 9/11 terrorists were criminals and not acting on behalf of the Saudi Arabian government.

So, here we are now, summer 2008, and no further ahead in solving the crime of 9/11 than on the day it happened. And for this lack of progress, one can blame the ineptness of the Bush Administration.

But this is the nature of the game with the terrorists in the Middle East: They all work more or less together, but as guerillas and in independent groups; they act covertly; they lie about everything; they are brutal; they take responsiblility for nothing; and they can act independent of a host nation's armed forces, often without even the knowledge of a host nation. And the terrorists move from state to state, committing crimes in one nation and then fleeing to another nation as a refuge.

This is how the terrorists fight..... Bush should have known this from the start and before he committed troops to Iraq.

Thank you for your post.

[Jim Nickerson]

Re: Peak oil hits the air waves

I think your point is well taken: The flyers who flew perpetrated 9/11 were from Saudi Arabia, not Iran.

However, the Iranians have been aiding the Islamo-fascists in Iraq, Syria, Lebanon, and Gaza. They fund Hesobollah and Hamas. And they might be funding Al Qaide, as well.

Trying to pin-down who is responsible for what is problematic in the Middle East, so I think you have made your point: Who do we give the bill for terrorism to, and for exactly what deeds?

If we might give a bill for 9/11 to the Saudis, they would answer that the 9/11 terrorists were criminals and not acting on behalf of the Saudi Arabian government.

So, here we are now, summer 2008, and no further ahead in solving the crime of 9/11 than on the day it happened. And for this lack of progress, one can blame the ineptness of the Bush Administration.

But this is the nature of the game with the terrorists in the Middle East: They all work more or less together, but as guerillas and in independent groups; they act covertly; they lie about everything; they are brutal; they take responsiblility for nothing; and they can act independent of a host nation's armed forces, often without even the knowledge of a host nation. And the terrorists move from state to state, committing crimes in one nation and then fleeing to another nation as a refuge.

This is how the terrorists fight..... Bush should have known this from the start and before he committed troops to Iraq.

Thank you for your post.

I got confused, I thought you were writing about our elected officials.

[Shakespear]

Re: Peak oil hits the air waves

For example, the British could negotiate with the IRA to secure a peace in Northern Ireland,

Well I would carfully look at the actual history of this conflict. It was not so pretty and clear cut as your statement suggests.

What facts do you have to suggests that Iran is so suicidal as to go nuclear the moment they get their hands on it? Has Iran unilaterally attacked any of its neighbors in recent history? Iraq did, but it had help. Guess whose?

Again, US and lots of other nations in that neighborhood have enough nucks to fry Iran many times over. They have a vested interest to make sure that this does not happen as the fallout from a nuclear exchange knows no boundaries. It will all be in the hands of nature (wind) or as some may prefer GOD.

I strongly doubt that Iran is that crazy. Just an opinion of a guy off the street :-)