Times Online on peak oil


	Times Online on peak oil

enbar

7-16-2007 11:22 AM

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via:energybulletin, energy, news, oil, latoc, peak_oil, bad_news, post:tumblr

enbar says:

Energy Bulletin's headline for today: "The Week Peak Oil Went Mainstream" (http://snipr.com/1ocy4).

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3d43cc20-9941-4e6b-b703-fc2bb2d5c0fb/D80A7DC8-4E71-46B4-A74B-DF0847990BCD/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece" href="http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece" style="font-size: 11px;">www.timesonline.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.timesonline.co.uk/img/8ABDF937-E53A-4CF1-91A0-CF64D243BF53" alt="Times Online" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece"><H1 class="heading">Are these the last days of the Oil Age?</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece"><P>
Oil ruled the 20th century; the shortage of oil will rule the 21st. There is
now no doubt about the rising trend in oil prices. In 2003 a barrel of Brent
crude sold for $29; in 2004 it rose to $38; in 2005 it rose to $54.50; in
2006 it rose to $65. Last Friday the price closed at $77.50. Some dealers
expect it to test the $80 level quite shortly.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece"><P>
The shortage of oil and natural gas, relative to demand, had already changed
the balance of world power. Historians may well conclude that the US
decision to invade Iraq was primarily motivated by the desire to gain
physical control of Iraq’s oil and to provide defence support to other
Middle Eastern oil powers. Political motivations are always mixed, but oil
is an essential national interest of the United States. If the US is now
deciding to withdraw from Iraq, the price will have to be paid in terms of
loss of access to oil.
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