Sunday May 20th, 2012

I've said several times on this blog that our leaders are aware of Peak Oil and it's implications, and that they dare not acknowledge it for the effect it would have on the general public. I came to this conclusion based on on several reasons. 1.) The embracing of austerity seems to be a tacit acknowledgement that future growth ( Read more... )

A few days ago, I described how oil prices dropped and stocks went up on news of bin Ladin's death. I also said that it wouldn't last, a view shared by Kunstler.
This morning, Bloomberg is putting out a story that the price of West Texas Intermediate crude oil dropped - from $113 to 112 - because Bin Laden was tossed into the sea. How long will ( Read more... )

Kyodo News
Woes deepen over radioactive water at nuke plant, sea contamination

TOKYO, March 28, Kyodo

Japan on Sunday faced an increasing challenge of removing highly radioactive water found inside buildings near some troubled nuclear reactors at the Fukushima Daiichi plant, with the radiation level of the surface of the pool in the basement of ( Read more... )

Given that the US economy is still not yet on firm footing, some now say that the price oil must reach this time around in order to trigger a new recession could be as low as around $120.

CNBC
$120 Oil: The Breaking Point for Consumers?

Some OPEC members may see oil prices [CLCV1  105.40 
( Read more... )

By now, everyone has heard about what is happening seemingly all at once in Wisconsin, Michigan and Ohio. Republican governors are trying to ram "emergency" legislation through their senates and houses that would strip the most robust union demographic, public employees, of their collective bargaining rights ( Read more... )

Bloomberg

Roubini Sees Double Dip for Advanced States If Oil Hits $140


Nouriel Roubini, the economist who predicted the global financial crisis, said an increase in oil prices to $140 a barrel will cause some advanced economies to slide back into recession.

Underlying how fragile the global economic recovery is, Roubini said the European Central Bank ( Read more... )

Business Spectator
A US recession would be fatal

Fears that the global economy could be on the precipice of a sharp slow-down spread overnight, as the oil price pushed perilously close to the level considered to be the recessionary trigger-point.

The price of Brent crude broke through $US119 a barrel, as traders worried that escalating tensions in ( Read more... )

( Read more... )

Straight Talk with James Howard Kunstler: "The World is Going to Get Rounder and Bigger Again"
This week's Straight Talk contributor is James Howard Kunstler, author and social critic. His better-known works include The Long Emergency, in which he argues that declining oil production will result in the decline of modern industrialized society and ( Read more... )

The most important decision Californian voters might ever make: Yes or no on the state's global warming law

By Andrew Leonard


( Read more... )