OPEC Summit aside
Apparently an oil company consortium led by Brasilian company Petrobras has announced the conclusion of well tests that indicate the deep water Tupi field to be enormous. When the field comes online (it will require the cutting edge of oil drilling technology), it could place Brazil in league with the other major new world fuel producers (like Venezuela, Canada and the States) and potentially the world. In fact it stands to more than double Brasil’s proven reserves ranking it above Norway. read more »
Oil prices: unstable subsidizers
As OPEC looks set to request assurances that demand wont decrease (hah!) as especially the US and Europe pursue other sources of energy in return for investing significantly in expanding production capabilities, someone finally looks at what these prices mean to people other than the gas excreters and guzzlers swimming in dollars and debt, respectively. read more »
More on biofuels and hunger
George Monbiot argues that governments continue to avoid hard decisions by promoting converting crops for biofuel production - a process which often produces more carbon than petroleum and causes starvation by limiting already stretched food supplies.
The Age of Insufficiency
One thing i like about oil prices so close to $100 is the fact that it’s forcing a lot of people to stop and think about our dependence on petroleum. There is so much coming out these days that it’s difficult to keep track of. Micheal Klare has an interesting piece in the Nation that looks at prospects for the end of the Age of Petroleum. read more »
| |
