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Today's News Linkage and Wrap-up

Posted by Prof. Goose on April 8, 2005 - 1:20pm

Here's today's news clippings.

Today, I want you to notice how LITTLE the American MSM is paying attention to the peak oil issue and the policy decisions that are being based on what's coming. (Note also all of the links to New Zealand, Australia, and the like! (that's why I left the addresses exposed...). Sure there have been some mentions lately, but actually relating peak oil to policy like these piece do...? Nope.

Corporate fucking poser-whores! Hey MSM, get off your asses and do something. Maybe even learn about something new...

(sorry, had to let that out, it's been festering all morning...)

To begin with, Bayard Randel has a couple of nice catches...

http://nocturne.net.nz/weblog/archives/2005/04/chevrontexacos.php

http://nocturne.net.nz/weblog/archives/2005/04/iea_report_savi.php

Then here's some more:

http://www.nzherald.co.nz/index.cfm?c_id=3&ObjectID=10119220

http://www.gnn.tv/headlines/1984/Peak_Oil_Effects_Rippling_Through_US_Economy

http://www.theaustralian.news.com.au/common/story_page/0,5744,12786288%255E2703,00.html

and then FINALLY, Thomas Friedman tries to make some sense of it all:

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Today's News Linkage and Wrap-up

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2 comments

SqueakyRat (not verified) on April 8, 2005 - 2:11pm Permalink | Comments top

Fitzpatrick said that while a "major top" on crude prices may be in place, there's still not a "wholesale shift" in the market's thinking.

For that reason, he predicts a continued struggle between those who think "the era of cheap energy is over" and "those who think the economic toll resulting from rising energy prices will ultimately kill demand."

Fitzpatrick is an oil analyst, quoted in today's MarketWatch story.

I think it's interesting that there's a "cheap oil is over" faction and a "recession will reduce demand" faction, but no "high prices will elicit vast new production" faction. The optimists in the market are now those who think that the "economic toll" will bring prices down.

It seems obvious that peak-oil thinking has basically swept the floor among the traders.

The Oil Drum (profgoose) (not verified) on April 9, 2005 - 9:20pm Permalink | Comments top

SR: it's true in some ways, but in others, peak oil really isn't priced into the market.

for instance, oil stocks are priced right now on the assumption that oil will average around $40/bbl this year. With all of the folks saying that demand isn't curtailed by these higher prices and that oil will not go back below $50 ever again, seems to me that there's sadly some money to be made...

but I am a professor, and therefore, I have no money. *laugh*

Today's News Linkage and Wrap-up

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2 comments