Wednesday, January 11, 2006

AlterNet: 2006: The Year of Oil Collapse?

Oh good, we just arranged to live in a house with oil and no gas.
Just as well we have a central wood burning stove.
Still the Russians are playing roulette or at least hard ball with the gas supply too.
OOPs no more Ukrainian Government.
Our nice Mr Blair has grabbed the oil from Iraq. What apity the Iraqis keep blowing it up for him.
Anyone for a home nuclear reactor. Mr Blair wants one, and lots more nuclear bombs too. I guess he wants to bomb the Iranians, or perhaps those irritating French and Germans.
That would be the Iranians.
What I want is a wind turbine on our hill or in our beech tree

AlterNet: 2006: The Year of Oil Collapse?: "I can't predict whether some maniac will drive a Zodiac boat into a tanker in the straits of Hormuz or fire a shoulder-launched missile at an Arabian refinery. If nothing like that happens, the first year of post-peak will express itself in turbulent oil markets. Fear of not getting enough will rule. Futures will be overbought and then dumped or shorted, and then overbought again. This will at least increase the violence of the ratcheting effect in the markets. Overall, I expect to see $100-a-barrel oil at some point this year. Last year I made a bet with a friend that oil would end 2005 at $75. I lost the bet. But it is a fact that the price of oil altogether ended the year 40 percent higher than 2004, so it is not as if the markets did not show extraordinary stress."

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