Peak Oil and the Sands of Time

by BWK ~ February 25, 2008

“Ask me for anything,” said Napoleon to his staff. “Anything but time.”

And every day that passes, we are losing time in the quest for a strategic approach to energy transformation.

This from our buddy Tom Whipple, retired CIA analyst:

“Now many traders are saying that $100 oil is just a short-lived speculative binge. The fundamentals don’t justify it and oil will soon be back to its “proper price” of $85 a barrel. Note how the “proper price” keeps moving up. Few talk of $40, $50, or $60 oil anymore. Even OPEC says that if oil goes below $85 a barrel, production will be cut until prices go up again. It just shows how easy it is to get used to being richer and richer…

“Those in power justify themselves by saying they do not want to cause panics – widespread hording, market sell-offs, whatever. Let the panic, which will surely come, happen on somebody else’s watch. It is too much to deal with.

“The downside of this collective denial is the loss of time to effect change. So far the only decisive action in the US was to turn our corn into SUV fuel. Much more needs to be done. It is looking more and more as if we are going to go over a cliff, while buying nearly unaffordable food and waiting in lines at the gas pumps before meaningful action is taken.”

Peak Oil is here, what steps are we taking? More here…
http://www.energybulletin.net/40608.html

BWK