Oil Depletion Economics 101

Coal May Surpass Oil as Better Bet on Demand for Cheaper Fuel

A thirsty world is running dry: Australia could be the OPEC of uranium.

Scouring Scum and Tar from the Bottom of the Pit

Faced with the undeniable reality of “Hubbard’s Peak” in global conventional oil supplies, the world’s largest multinational energy corporations are now hell-bent on squeezing oil out of tar in northern Alberta, like junkies desperately conniving for one last giant fix in a futile attempt to quench America’s insatiable “addiction to oil” (described so eloquently by President George Bush II).

Nigeria cuts daily crude output by 26 percent

LAGOS, 07/31 - The crude production in Nigeria has been cut by 675,000 barrels per day (bpd), or 26 percent of the country `s normal daily output, local leading daily This Day reported on Monday.

"The cut is a result of recent militant attacks in the Niger Delta and a pipeline leak there last week, " the report said.

Royal Dutch Shell, which produces half of Nigeria`s oil, said last Tuesday a leak of an oil pipeline in south Nigeria had cut output there by 180,000 bpd. As a result of the leak whose reason remains unclear, the contracts of Shell might not be honored in July and August.

Sri Lanka: Energy crisis: Have we woken up from a long slumber?

Coal to fuel India's economic growth

A combination of triple scourges this winter: Along with Peak Oil, Peak Grain and Peak Water the world enters crisis overload

While Lebanon burns, the Saudis feign impotence

"For the Saudis, the Lebanese and Palestinians are ‘throw away’ people. All this nonsense about Arab solidarity is merely a circus act to shore up the legitimacy of the kleptocrats in the Gulf."

...Here we are at peak oil. Petro dollars are flowing by the tens of billions into Gulf coffers. And Saudi Arabia drops its last fig leaf and demonstrates to one and all that it has struck an alliance of convenience with Israel and given the IDF a green light to ravage Lebanon and Gaza.

On the face of it, it doesn’t make much sense. The one Arab country that has the leverage to shelter the region from American financed Israeli brutality decides to publicly turn on its own people. To make partial amends, King Abdallah has offered to compensate the Lebanese for some of the damage inflicted by the Israeli war machine. Unfortunately, for all their wealth, the Saudis have yet to perfect a way to bring back the dead or reattach missing Lebanese limbs.