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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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An old misconception
Enviromental Headlines; Climate ChangeThe preoccupations of an age are often given away by its choice of prophet. In the 90s, Karl Marx came back into vogue, not as the John the Baptist of the class struggle, but as a reliable guide to globalisation and its discontents. Old Whiskers was even the subject of a long New Yorker essay, which argued that Wall Street types had nothing to lose by reading him. Over the last couple of years, it has been Thomas Malthus's turn in the spotlight. The spectre of "Pop" Malthus, as students referred to his work on population growth, has hovered over the recent arguments about record food and fuel prices. His warnings about how growing populations would outstrip food supply are often echoed by greens and on blogs. And today the British Medical Journal weighs in, with an online opinion piece that is essentially Malthus-lite.
Posted by Leanan on Saturday, July 26 @ 18:34:45 PDT (16 reads)
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Would You Drive 55?
Public Policy; Political and Legal NewsLiberals say Iraq is another Vietnam; conservatives say Barack Obama is Jimmy Carter redux. ABBA's a mega-hit and Elton John's going to be performing at Madison Square Garden. Had enough of these '70s flashbacks? Brace yourself for another: the return of the national speed limit, courtesy of one of the country's most venerable politicians.

Senator John Warner (R-VA) — elected in 1978 — recently expressed interest in the idea of a national speed limit to conserve gasoline. Warner, who is not running for re-election this year, wrote to U.S. Secretary of Energy Sam Bodman, asking "at what speed is the typical vehicle traveling on America's highways today most fuel efficient?"

Posted by Leanan on Saturday, July 26 @ 18:32:22 PDT (22 reads)
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Venezuelan president wants oil to stabilize at 100 dollars per barrel
Consumption; Demand; Prices MADRID (AFP) - The price of oil should stabilise at around 100 dollars per barrel, Venezuelan President Hugo Chavez said Friday during a visit to Spain.

"The price of oil needs to stabilise. The price according to our interpretation should be lower and stabilize at around 100 dollars per barrel," the head of the OPEC member state told a joint news conference with Spanish Prime Minister Jose Luis Rodriguez Zapatero.

Posted by Leanan on Saturday, July 26 @ 18:28:03 PDT (15 reads)
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Now it's war at BP-TNK
Public Policy; Political and Legal NewsThe oil giant's dispute with its Russian partners has erupted into open hostilities with the stage set for a long battle in the international courts

Bob Dudley was at the end of his tether. The embattled chief executive of TNK-BP, BP’s Russian joint venture, could no longer do his job effectively. Suspicious that his office had been bugged and his landline tapped, the Mississippi-born oil man resorted to stepping out on the balcony to make phone calls. He began to have his office regularly swept for bugs.

Relations at the top of Russia’s third-largest oil-and-gas group had disintegrated into all-out civil war. The breakdown between its owners, BP and four Russian billionaires, was so severe that managing the day-to-day operations had become virtually impossible. So Dudley rang BP’s headquarters in London last Thursday to tell Tony Hayward, BP’s chief executive, that he was leaving Russia. Dudley said he could retain operational control of TNK-BP, but others are doubtful.

Posted by Leanan on Saturday, July 26 @ 18:25:41 PDT (17 reads)
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Canada: Food for thought
Consumption; Demand; PricesFarmers facing bitter harvest and consumers may have to pay the price

WILMOT — The head of a farm lobby group representing about 100 farmers across the province says Nova Scotians will have to pay more for food and may face food shortages if farmers are forced out of business by increased operating costs.

"Food prices are going to escalate. They need to," Lloyd Evans, an Annapolis Valley farmer and the president of Horticulture Nova Scotia, said in a recent interview on his nearly 200-hectare farm in Wilmot, near Middleton.

Posted by Leanan on Saturday, July 26 @ 18:20:06 PDT (21 reads)
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Peak Oil Media
Public Policy; Political and Legal Newsprofgoose writes: In James Howard Kunstler's view, public spaces should be inspired centers of civic life and the physical manifestation of the common good. Instead, he argues, what we have in America is a nation of places not worth caring about.
Posted by Leanan on Saturday, July 26 @ 18:11:36 PDT (32 reads)
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Senate Republicans block heating aid bill
Public Policy; Political and Legal Newsvox_mundi writes:

WASHINGTON - Republicans on Saturday blocked the Senate from considering a bill next week that would nearly double federal aid to help the poor pay heating and air-conditioning bills.

Although a dozen Senate Republicans support the measure, most voted with GOP leaders who would rather spend the time trumpeting their call to expand offshore oil drilling before Congress takes six weeks off for vacation and the presidential nominating conventions.

Posted by Leanan on Saturday, July 26 @ 12:10:52 PDT (131 reads)
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Analysis: Moscow and Riyadh grow closer
Public Policy; Political and Legal Newsvox_mundi writes:

U.S. consumers, battered by a year of record-high fuel prices, at least can take solace in the fact that Saudi Arabia, the world's largest oil producer, is firmly in the American camp.

Or maybe not. On July 14, during a meeting in Moscow little reported in the foreign press, Interfax reported that Saudi Arabian Secretary-General Prince Bandar bin Sultan bin Abdulaziz and Russia's VTS (Military-Technical Cooperation) agency head Mikhail Dmitriev, in the presence of Prime Minister Vladimir Putin, signed "an agreement about military-technical collaboration."

Posted by Leanan on Saturday, July 26 @ 11:57:08 PDT (158 reads)
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Outside View: Russian-Venezuelan oil pacts
Production; Extraction; Explorationvox_mundi writes:

Many analysts expected Venezuelan President Hugo Chavez, who visited Moscow on July 22, to sign new agreements in military-technical cooperation, but this did not happen.

Instead, a number of Russian oil giants signed promising contracts with Venezuela. They would replace their American counterparts, previously ousted by Hugo Chavez.

Posted by Leanan on Saturday, July 26 @ 11:55:12 PDT (109 reads)
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The NRC says the reactor revival is NOT ready for prime time
Hydrocarbon Alternativesvox_mundi writes:

A devastating blow to the much-hyped revival of atomic power has been delivered by an unlikely source---the Nuclear Regulatory Commission. The NRC says the "standardized" designs on which the entire premise of returning nuclear power to center stage is based have massive holes in them, and may not be ready for approval for years to come.

Posted by Leanan on Saturday, July 26 @ 11:54:19 PDT (110 reads)
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War With Iran? State Department Realists vs. Cheney's Ultras
Public Policy; Political and Legal Newsvox_mundi writes:

Commentators whom I respect are saying, with conviction, that there's no way the U.S. is going to attack Iran. Alexander Cockburn, Jim Lobe and Tom Engelhardt, for example, say no. Others whom I equally respect predict the opposite. Gordon Prather, Ray McGovern, Scott Ritter and Justin Raimondo say yes, it's going to happen. Those proffering the comforting message that further insanity is not on the immediate horizon argue that the U.S. is overextended in Afghanistan and Iraq, that the military brass opposes an attack, and that the Condoleezza Rice faction of "realists" in the State Department is heading off Vice President Cheney and the neocons. They point to the presence of Undersecretary of State R. Nicholas Burns at the recent six-nations talks with Iran, and talk of opening a U.S. interests section in Iran. They note the furious denunciations of Rice in the Weekly Standard, presumed to articulate Cheney's views, and suggest that the rage results from a sense of political defeat.

Posted by Leanan on Saturday, July 26 @ 11:53:11 PDT (161 reads)
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Power crisis hits Indian states
Consumption; Demand; Pricesvox_mundi writes:

Authorities in the western Indian state of Maharashtra have announced tough measures to deal with a power crisis.

The state's 250,000 industries will now get power only five days a week and malls and government offices have been told to reduce energy consumption.

Posted by Leanan on Saturday, July 26 @ 11:48:56 PDT (81 reads)
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United States has bigger problems than the war on terror
Public Policy; Political and Legal Newsvox_mundi writes:

Climate change, peak oil, scarce water, diminishing food production, a predatory health-care system, huge national debt and world recession are bigger problems than America's fear-mongering, soul-destroying "war on terror."

Our only means of creating real wealth -- the machinery, knowledge and expertise to manufacture goods -- was shipped overseas after Americans facilitated their own fleecing by electing politicians who hated government "regulation" of business. Corporate outsourcing and looting of America began under Ronald Reagan as a deliberate, organized process financed by wealthy business interests, cloaked in "family values" and legitimized by right-wing "think tanks."

Posted by Leanan on Saturday, July 26 @ 11:46:46 PDT (218 reads)
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Chrysler to stop leasing; GM offers employee prices
Business News; Market ResearchSAN FRANCISCO (MarketWatch) -- Two Detroit automotive powerhouses made moves in attempt to stanch their bleeding Friday as gas-guzzling trucks and SUVs continue to sit idly on U.S. car lots.

Chrysler LLC's financial arm, Chrysler Financial, will stop offering vehicle lease options in the U.S. in order to focus more on financing vehicle purchases, according to multiple media reports Friday. Leases will no longer be an option Aug. 1. The automaker is expected to brief dealers in a conference call late Friday.

Posted by Leanan on Saturday, July 26 @ 09:19:15 PDT (158 reads)
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'Peak oil' Facebook site fuels global discussion
Public Policy; Political and Legal NewsEDMONTON - Jordan Schroder lives in a province with one of the richest supplies of oil in the world, but the Edmontonian is the driving force behind a Facebook group to raise awareness about the resource's scarcity.

Schroder had been following the peak oil theory -- that production of oil will peak, then decline -- for several years before starting the common-interests Facebook group this January.

Posted by Leanan on Saturday, July 26 @ 09:13:41 PDT (203 reads)
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Old Articles
Saturday, July 26
· Oil Shock: Why This Run-Up Is Different
· China: Panda or Dragon?
· Massive Economic Disaster Seems Possible - Will Survivalists Get the Last Laugh?
· Iran says oil could reach $500 on dollar, politics
· Indonesia: Last-Frontier Forest Is at Risk From Boom
· France: 'It feels like a sci-fi film' - accidents tarnish nuclear dream
· World Preps for a Nuclear Renaissance: Huge Boost in Uranium Exploration
· UK: Customers braced for further energy price rises
· CFTC Preliminary Report Subscribes to the Peak Oil Theory
· Australia: Rio Tinto shows muscle in coal industry debate
· Mexican crop has environmental advantages
· Food and energy security: Cassava to the rescue
· Rising demands threaten wetlands
· IRL: Minister abandons biofuel target as doubts grow about benefits
Friday, July 25
· Current Oil Price `Not Expensive,' Gabrielli Says
· Schools eye four-day week to cut fuel costs
· Fuel cost now driving up electric bills
· Nothing to Eat - Book Review: 'End of Food' by Paul Roberts
· A View from the Peak of the Global Economy
· Big Oil has more cash than it can use

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