Fat fingers and the price of oil
Can the wild swings in the price of oil over the last few weeks have anything to do with supply and demand?
Can the wild swings in the price of oil over the last few weeks have anything to do with supply and demand?
…Kunstler has a new work of social criticism titled Too Much Magic, his first nonfiction book since The Long Emergency came out in 2005. The book is an inquiry into a skewed, delusional perception of reality that Kunstler thinks has become “baseline normal for the American public lately.” Americans, he says, have been led astray by the incredible technological advancements of recent times. We’ve come to believe that any problem we face is solvable—as if by magic—with the application of some new technology.
“Everybody’s got a plan until they get punched in the mouth.” — Mike Tyson
“That’s a pithy way of saying where our country, perhaps the developed world, is at right now,” notes author James Howard Kunstler. We’ve blown past the mileposts for global peak oil, says Kunstler in his new book, Too Much Magic: Wishful Thinking, Technology and the Fate of the Nation, and we expect technology to save us.
-The energy-water nexus, 2012 edition
-Treading water
-The U.S. Drought and Electricity Generation
-US and EU must change biofuel targets to avert food crisis, says Nestlé chief
-Every Household in India to Have Electricity in 5 Years: Indian PM
-India’s other power failure (and its opportunity)
-Smart Grid Solutions in India [White Paper]
-Asia’s real power struggle
The U.S. Nuclear Regulatory Commission (NRC) stunned the nuclear industry last week by putting power plant licensing decisions on hold while it reconsiders rules on nuclear waste storage struck down by a federal appeals court in June.
The issue is part of the much larger and troubling question about the legacy costs–economic, social and environmental–of toxic industrial pollution that are mounting with each day. We’d like to think that we can simply take our industrial wastes and throw them away somewhere. But increasingly, in what economist Herman Daly calls our “full world,” there is no “away.”
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Middle East
-India’s power grid
-Kurdistan
-Quote of the week
-Briefs
Proponents of this nuclear technology argue that it can eliminate large stockpiles of nuclear waste and generate huge amounts of low-carbon electricity. But as the battle over a major fast-breeder reactor in the UK intensifies, skeptics warn that fast-breeders are neither safe nor cost-effective.
-Saudis, Emirates push nuclear power plans
-No easy substitutes for fossil fuels
-BP Statistical Review 2012 Part 2 Australia proved oil reserves overreported by a factor of 2
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Middle East
-The Eurozone
-Quote of the week
-Briefs
-James Howard Kunstler on Why Technology Won’t Save Us
-Power by the People
-Nuclear power vs. people power
-Breakthrough Material for Carbon Capture Developed
-Effect of Global Warming on U.S. Energy Consumption
-The missing link to a $7 billion market
Summary: A common concern in the comments expresses fear of resource exhaustion, perhaps even leading to collapse of civilization. Here we examine the theory, evaluate the risks, and point to sources of more information.