August 2007

Monthly Archive

Sat 11 Aug 2007

Canada uses military might in Arctic scramble

Posted by Darragh Field under Peakist , Peak Oil , Energy , Environment , Resource , Russia , New Hegemony
[2] Comments 

Building programme is response to Russian move
UN to decide on seabed claims to huge oil deposits

Ewen MacAskill in Washington
Saturday August 11, 2007
The Guardian

Lancaster Sound, Nunavut, Canada
Lancaster Sound, Nunavut, Canada. Global warming has made the Arctic’s oil and gas reserves more accessible Photograph: Louise Murray/Science Photo Library
  An international scramble for the Arctic’s oil and gas resources accelerated yesterday when Canada responded to Russia’s recent sovereignty claims with a plan to build two military bases in the region. (more…)

Fri 10 Aug 2007

Energy watchdog warns on oil supplies

Posted by diderot under Peakist , Peak Oil , Energy
No Comments 

By Javier Blas in London

Published: August 10 2007 12:27 | Last updated: August 10 2007 12:27

Opec needs to increase its production in the short term as world oil supply is lagging demand, the industrialised countries’ energy watchdog warned on Friday. (more…)

Sun 5 Aug 2007

Energy search goes underground

Posted by diderot under Peakist , Energy
No Comments 

By ELIANE ENGELER and ALEXANDER G. HIGGINS, Associated Press Writers
Sat Aug 4, 12:30 PM ET
 
BASEL, Switzerland - When tremors started cracking walls and bathroom tiles in this Swiss city on the Rhine, the engineers knew they had a problem

“The glass vases on the shelf rattled, and there was a loud bang,” Catherine Wueest, a teashop owner, recalls. “I thought a truck had crashed into the building.” (more…)

Fri 3 Aug 2007

The crash that could come

Posted by diderot under Peakist , Economics
[2] Comments 

By Robert Kuttner  |  July 30, 2007
Boston Globe

HISTORICALLY, October has been the month for big financial busts. But this year, October could come early.

Investors and ordinary citizens have good reason to worry about a perfect economic storm: a deepening loss of confidence in the dollar leading to higher interest rates; the higher rates bringing a crashing end to a hedge-fund, private equity, and merger binge that has depended heavily on cheap borrowed money; the boom in bait-and-switch mortgages ending in a morning-after of rising defaults and sinking housing values; inflationary pressures in food, oil, and other commodities leading to still higher interest rates — all unsettling stock and credit markets and putting a new squeeze on consumers borrowed to the hilt. (more…)

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