Peak Oil News: 04/01/2004 - 05/01/2004

Friday, April 23, 2004

Oil oinkers, beware. When the spigot sputters, so will our economy
Welcome to Peak Oil - The Daily Camera: Editorials

One thing is certain: We will reach a peak, and then life will change.
America is remarkably unfazed by this. Though the United States has only about 5 percent of the world's population, it consumes 26 percent of the oil. Neither the populace nor the Congress has shown much interest in conserving.

OIL (II) - Paula Devlin
One aspect of price increases was overlooked: dollar devaluation. The US has become a debtor nation."

Welcome to Peak Oil - The Cincinnati Post:
Welcome to Peak Oil -- the point in time when a nation or the entire world passes the point of maximum oil production. This happened in the United States in the early 1970s, and today the U.S. produces about one-third of the oil it did then. Peak Oil has come and gone in Venezuela, Libya and Indonesia. But still, there is plenty of oil in the Middle East, right? You would think so, but even the Saudis are hedging, according to a recent New York Times article.
Some energy analysts believe we are witnessing the global peak right now. The most optimistic ones think it might still be 20 or 30 years away, and then production will begin a slow decline lasting the rest of this century until all the recoverable oil is pretty much gone. Some are confident that higher fuel prices will finance the new technology needed to coax difficult-to-extract supplies from the earth. But then we will have, well -- higher fuel prices."

Thursday, April 15, 2004

Lights Out! The End of the Oil Age
On a cold, wet night there's nothing better than coming home to a warm house, making a hot bowl of soup and then, after dinner, curling up under a reading lamp with a good book. But what if there was no gas to make the soup or run the furnace? What if there wasn't any oil to transport the dinner ingredients to you? No sweat, you may be thinking, I'm pretty hardy. If you really believe that, then I challenge you to sit in the dark for 15 minutes. It's no fun.

Tuesday, April 13, 2004

Despite high gas prices, Americans keep on driving |
"Fuel will have to top at least $2, if not $3, for drivers to change their behavior."
(That is simply amazing!)

Sunday, April 04, 2004

Imagining a $7-a-Gallon Future
No price in America is more visible, indeed inescapable, than that of gasoline. And Americans don't like the numbers they're seeing today, and their anger has turned high prices at the pump into highly flammable political fodder. OPEC's decision last week to cut production has further fueled the fire.

But what are those prices telling us? That driving this summer will be expensive? Or that $3 a gallon, which spouted last week at a California station, is our future? Or more worrying, that after many years of false alarms, the world is truly beginning to run out of oil?

Thursday, April 01, 2004 Running On Empty
"OK. We've heard this scare story before. But it hasn't panned out. We still drive SUVs, use massive amounts of air conditioning and travel in airplanes all over the world. It's unlikely the public will pay rapt attention to Goodstein"s thesis unless the turmoil in the Middle East results in a shortage of crude oil and gasoline or another boycott of the U.S. for supporting Israel.

But suppose there's more than a nugget of truth in Goodstein's prediction. It won't affect your life, but it will affect your children or certainly your grandchildren. If even a smidgeon of what Goodstein predicts should come to pass, it will impact our economy, our standard of living and the value of investors' portfolios. "