Thursday, October 09, 2008

From The Oil Drum (Again)

The Drummers are up to speed on the past debates and the question of lifting the ban on OCS drilling. Professor Cleveland offers his POV.

Buddy can you spare $600 BILLION! That's what it will take over 30 years (thats 20B/yr) for Brazil to get the oil out, assuming they can get it out. Oil wealth is a wonderful thing, but be careful what you wish for.

Tom Whipple's article about the similarity in the coverage of the run-up to the current financial mess and Peak Oil should be required reading for the Presidential candidates.

Rigzone reports that some OPEC members are sweating the price drops. While a welcome relief for many, those price drops won't last in the long run.

In case you wondered, our Russian cousins are not immune to the current financial frenzy. But it may hurt them less than us. (PDF Warning - 2 pages only)

Richard Heinberg tells us that Peak Oil has come and gone, courtesy of the financial meltdown. I have read articles by others saying (in more detail) what Heinberg is saying. Nate Hagens at The Oil Drum will be posting a piece in a few days as to why he thinks Peak Oil has arrived. I'll link as soon as I see it.

The 20 States with the worst budget shortfalls. Take a look at how they are coping. Chiming in at Number 14 (if I counted correctly) - Illinois.

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