[OKC] Fw: [RunningOnEmpty2] More articles about continuing oil problems

[Bob Waldrop]

From: Bob Waldrop 
Sent: Sunday, February 12, 2012 6:17 AM
To: ROE2 
Subject: [RunningOnEmpty2] More articles about continuing oil problems

  
If you only read the mainstream press, you will conclude that the “peak oil scare” is past. Alas, if only it were true, but it is not. Below is an article from Our Finite World blog (another of my info sources), summarizing three major articles in the academic press that lay out the continuing problem. As is common with the academic press, the full articles are behind paywalls, but the summaries in the blog article are good.

Bob Waldrop, OKC

http://ourfiniteworld.com/2012/02/12/three-major-journals-publish-articles-on-limited-world-oil-supply/#more-15251

In the past month, three major peer-reviewed journals have published articles relating to limited world oil supply:

1.. In Science, Technology is Turning U. S. Oil Around But Not the World’s, by Richard A. Kerr; 
2.. In Nature, Climate Policy: Oil’s Tipping Point has Passed, by James Murray and David King; and 
3.. In Energy, Oil Supply Limits and the Continuing Financial Crisis, by Gail Tverberg.
The fact that these articles have been published is significant, because articles in the mainstream press, such as Bloomberg’s recent article, Peak Oil Scare Fades as Shale Deepwater Wells Gush Crude, seem to suggest that our oil problems are past. While the US oil supply situation may be a little better, the world supply situation is still very bad, and oil prices are still very high around the world.

Furthermore, high oil prices tend to have a recessionary effect, and can lead to debt defaults. These issues are described in both the second and third articles above. Thus, there is a substantial chance that high oil prices are contributing to the debt default problem in Europe, and to forecast low world economic growth.

In this post, I briefly describe these articles.

more at the link above

[Non-text portions of this message have been removed]



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Robert Waldrop, Oklahoma City
http://www.bobwaldrop.net see also http://sharonastyk.com/ 

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