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| That is a shame |
Walter Russell Mead
gets to the larger meaning:
The global oil market is no longer dominated by a psychology of scarcity, but rather one of abundance. A sizable glut led to the price collapse we’ve witnessed these past 23 months, and it persists even with prices hovering (and perhaps finding a new equilibrium) near $45 per barrel, $70 cheaper than where they were in June of 2014. In this new world, the threat of OPEC dialing back its prodigious share of the world’s total crude supplies no longer seems as serious.
I'd also add the "no blood for oil" argument doesn't have as much, ahem, currency either. Will it mean that the world, particularly the Middle East, becomes less of a concern? I doubt it, but I do wonder if anyone remembers
this feature, from about ten years ago?
TV news series on peak oil
by Don Shelby
WCCO-TV in Minnesota began broadcasting the first US news series that explicitly covers peak oil. The first segment has interviews with Peak Oil figures like Rep. Roscoe Bartlett, Kenneth Deffeyes and Matt Simmons.
One energy story per night will appear during the second half of the 10 p.m. news program April 10-14. Each segment will be 7 minutes long.
The spots will be combined into a one-hour documentary that will be aired separately and remain up on the website. WCCO-TV plans for a roll-out of 30 stories during April and May and additional stories to appear throughout the balance of the year.
We're not talking much about peak oil any more. Wonder why that is?
1 comment:
It does feel good, but I remember thinking around 1992 that the Soviet Union was dead. Now I'm not so sure--these things sure have some zombie powers. Waiting for the other shoe to drop.
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