Futures Forum: "Exposing the futuristic fantasies deployed by the fossil-fuel companies"
Futures Forum: Climate change: 'stranded assets' and 'unburnable oil' ...... or the pressures to leave oil and gas in the ground
Futures Forum: Squaring the circle: low oil prices, high renewable prices ... ... and high carbon emissions
Futures Forum: Climate change: and lower oil prices
The libertarian website, the Foundation for Economic Education, has been celebrating the dramatic drop in oil prices:
All Hail the Tumbling Price of Gas : The Freeman : Foundation for Economic Education
However, this drop seems to have very little to do with the 'free market' and much more to do with international power politics:
Saudi Arabia in oil-price war with Iran, Russia
The Saudis are playing a clever game with oil supplies. Here's how to understand it » Spectator Blogs
US/Saudi Oil Play Is Economic Warfare
Did The Saudis And The US Collude In Dropping Oil Prices?
BBC News - Falling oil prices: Who are the winners and losers?
RESOURCE CRISIS: Unleashing the oil weapon against Russia: how to destroy a great empire
Oh what a tangled web we weave, When first we practise to deceive!"
Walter Scott, Marmion, Canto vi, Stanza 17
Oil price slum is equivalent to huge stimulus (around 150 billions) to the USA economy but it does have some significant side affects,
Oil is not a regular commodity. It is a strategic resource. So I think it is naïve to analyze it in supply-demand terms. It is about geopolitics and always was. Remember Iraq war with one million of Iraqis dead. Remember Libyan color revolution and Hillary reaction to the horrible death of poor colonel. And Syria war unleashed to achieve what ? It all about oil.
The key question here is cue bono in the current oil prices crash. As SA is a client state we can assume that SA actions got the USA blessing. And it was Saudi uncompromising position which played the role of catalyst. But it was of course the Wall Street which played the key role of amplifier in such a dramatic drop. Which is simply impossible without all those games in the futures market with unlimited dollars made available for the purpose. Conditions are now not equal to 2008. And population of Earth still grow.
But there is an interesting and probably not completely foreseen blowback for this mixture of overproduction crisis and intelligence operation with the goal to squeeze Russia (and as a side effect hurt Iran) -- double (or triple if we add Venezuela ) blow if you wish...
Peak Cheap Energy and Oil Price Slump
So, where are we with the notion of 'peak oil'?
Peak Oil News
The Transition Network has some answers - plus some canny comments which follow:
The Transition Agony Aunt on how to talk about peak oil
The Transition Agony Aunt on how to talk about peak oil | Transition Network