7
POPSSaudi Arabia Wants Compensation if Global Warming Bill Passes Saudi Arabia, which sits atop the world's largest proven oil reserves, is seeing economic growth slide because of fallout from the global meltdown, but experts still expect the country, flush with cash from oil's earlier price spike last year, to be better able than other nations to cope with the current crisis. Al Sabban accused Western nations of pursuing an agenda against oil producers, under the guise of protecting the planet. “Despite the variability in the region, the current Arab position is mainly focused around protecting the oil trade rather than saving the planet form the adverse impacts of climate change,” said Wael Hmaidan, the executive director of IndyACT.
0
POPSU.S. gives green light to Enbridge pipeline - #tarsands #obama #mistakes #COP15 If the pipeline goes ahead, Canada will lose the sovereignty over its territory since it will be legally bound to keep on destroying hundreds of thousands of square miles of its wild and ancient boreal forests for years and years. By what right can governments kill their land forever? It is a betrayal of future generation of Canadians who will inherit a dead land in place of ancient wilderness teaming with life. Here is the 4 minute video version - http://www.youtube.com/watch?v=HgBGwsLILic
0
POPSWorld Oil Reserves Fell for First Time in 10 Years, BP Says The reserves may or may not be there. Everyone knows that the Saudi Arabia's and the other Gulf States figures are as opaque as they are suspect. And that hundreds of thousands of square miles of the Canadian boreal forest will be turned into a wasteland if these "reserves" are ever to be tapped. What people forget is that the price of oil can never be higher than people can afford to pay which means it is bound to come down as people have to reign in their spending, making exploration and ecocide "uneconomic".
6
POPSThe End of the American Economic Era?
Right now, the United States has responded to a lack of demand for its Treasuries through a questionable and disturbing method: we're buying our own debt. That allows the yields to remain low, but buying our own debt is somewhat akin to creating your own credit card. Eventually, you have to acknowledge that the money you create on the books never really existed, unless the United States plans to simply print money to pay off all the bonds. That would create a level of inflation not seen in the West since the Weimar Republic, and will effectively force the rest of the world to avoid U.S. currency and investments as unsound. It would, for the first time in decades, put the United States on the financial sideline. Who would take over as the leading economic power? What kind of world would global dominance by China, India, or Russia bring, assuming any of these could take that role? How about a coalition of oil producers like OPEC, who have the means to fund it? Scary.
5
POPSSaudi Arabian Oil Minister Naimi Says Oil To Reach $75 A Barrel The July contract increased 8.2 percent this past week. Oil is up 38 percent this year. Naimi said oil should keep at about $75 a barrel “because that is what is desired for the world economy.” Saudi Arabia produced less than its quota of 8 million barrels a day last month, according to a May 13 OPEC report. The Saudis produced 7.9 million barrels of OPEC’s 25.3 million- barrel daily output. Naimi said last month that helping to keep oil prices at $50 a barrel was his country’s contribution to the world economy, which is fighting the worst recession in six decades. Since he made those comments in Tokyo on April 25, crude prices have climbed more than 20 percent to above $60 a barrel. OPEC cut its 2009 forecast on May 13 and now estimates daily oil demand will fall by 1.57 million barrels, or 1.8 percent, to 84.03 million barrels of oil a day this year.
4
POPSAIPAC Bill to Cut-off Oil Products from Iran, Jeapordizes US Economy More
Iran imports 40% of its petroleum products, which AIPAC is leaning on Congress and Obama to cut-off under pretext of "nuclear threat" (hogwash, no evidence of that). See the video and details from the 2009 AIPAC Conference just concluded. Let's imagine the consequences of cutting of oil products from Iran: 1. Iran could reduce supply of crude petroleum to US and others, and get OPEC to agree. Iran controls a large percentage of world supply of crude. 2. Gas prices in the U.S. would skyrocket (again), in this economic war on Iran, in the midst of a severe recession and high unemployment (still growing)! 3. In consequence of #2, all consumer products (that require transportation and fuel) would also skyrocket , causing inflation of prices during recession and unemployment! AIPAC does not care about the U.S. , only the radical Zionist agenda of a "new middle east", and only them with nuclear weapons. Tell Congress NOT to support this legislation!
1
POPS Chairman Zero’s Gift to OPEC that would increase electricity costs by up to 400% and cost 4,000,000 jobs. (I guess fewer people working means fewer people “polluting.”) Environmental extremists have to be pleased with Chairman Zero’s actions. Hugo Chavez, Mahmoud Ahmadinejihad, and the bin Ladens must be thrilled. For the rest of us, who don’t get to use government provided cars, helicopters, and jets for transportation … and for the tens of thousands of workers who won’t be getting jobs in the oil fields… we should not be happy about this. Chairman Zero's environmental policy: Environmental groups are fellated while consumers take it in the rear.
4
POPSEnergy Secretary Hasn’t Got a Clue What US Energy Policy Is But at least he paid his taxes! Mr. Chu said Thursday he feels “like I’ve been dumped into the deep end of the pool” in confronting questions about oil policy, such as whether the administration would consider delaying scheduled deliveries of oil this spring to the nation’s strategic petroleum reserves. Mr. Chu is still without a deputy, and the administration has yet to nominate people to fill other high-level Energy Department posts, reflecting a broader challenge the administration faces staffing up cabinet departments to handle an array of initiatives called for by President Barack Obama. Have you ever heard anything so absurd? This is the cabinet officer charged with implementing Obama’s energy policy and the man is totally clueless as to what that policy is. Wall Street Journal February 20, 2009
0
POPSSteven Chu Surprised to Learn He's in Charge of Oil Policy Yikes. As Obama focuses on things other than energy, notice gasoline prices inching higher. How long until they're back over $4? Better get building nuclear power plants and converting the federal vehicle fleet to use natural gas, Mr. President. Sure, you can talk about windmills and solar panels out on your speaking stops. But lets make sure that we're doing something serious about our energy needs, okay?
0
POPSChávez Reopens Oil Bids To West As Prices Plunge Top executives like Eulogio del Pino, the Stanford-educated vice president of exploration and production, spent much of 2008 negotiating unfinished deals like the takeover of a cement company. But all the while, Petróleos de Venezuela has faced its own difficulties. It claimed it produced about 3.3 million barrels a day throughout most of 2008. But other sources like OPEC, of which Venezuela is a member, place the figure closer to 2.3 million and show a fall of about 100,000 barrels a day from a year earlier. When Chávez rose to power a decade ago, Venezuela was producing about 3.4 million barrels a day. After weathering the turmoil of recent years, Western oil companies here are loath to speak publicly about their plans. "We don't elaborate on bidding processes beyond the fact that we evaluate every opportunity and our decisions will be based on economics and other factors," said Scott Walker, a spokesman for Chevron.
3
POPSGas Prices Shoot Up, Thanks to Another Israeli Middle East War Oil prices are still low yet gas has gone up 20-cents per gallon in the last 2 days. Middle east wars directly effect gas prices at the pump. You can thank Israel's new middle east war for the latest hike as this article mentions. New York Times: Oil prices are up about 25 percent in the last week alone, in part because of the escalating conflict between Israel and Hamas in Gaza Now gas prices fell despite OPEC's last cut, and demand has not changed much, so that leaves the market fears of the impact of another Israeli war (as with Lebanon couple years ago), and war-mongering talk, all supported by AIPAC-controlled U.S. Congress and both incoming and going U.S. Presidents. This is not what the U.S. economy needs, and is the fruits of another unjust war! Just when we were beginning to economically breathe on "main street" more wars come to change all of that. Demand Cha
0
POPSJoel Kotkin Advice Obama ~ North American Energy Agreement A continental strategy would halt this dangerous slide. Taken together, the resources of our three countries are both immense and extraordinarily diverse. Overall, North America ranks second only to the Middle East in proven oil reserves. Canada, for example, has the world’s second largest proven crude oil reserves, outpaced only by Saudi Arabia; the United States ranks 11th and Mexico 14th. The three North American states rank in the top fifteen in natural gas production, as well. This alliance can work both in the short run on fossil fuels and will, over time, blossom with the shift to renewables. Read the whole thing. Especially if you’re Barack Obama. Glenn Reynolds at 10:18 am
0
POPSNet-Zero Gas Tax Well-reasoned argument for raising gas tax by $1 while gas is cheap and reducing FICA taxes by $14 a week. Revenue neutral to Fed gov, saves the planet and we starve enemy oil producers of revenue.
2
POPSAre You Ready for $8-a-Gallon Gasoline? Better get ready for gas prices to go way back up, to the $4-per-gallon heights of last summer and even beyond. And it won’t be because of anything OPEC does, or the lunatics running either Iran or Venezuela. It will be because the U.S. government thinks you should pay much more for the gas you depend upon to get to work, go to the grocery store and pick up the kids at school. It’s all for your own good because, remember, the government is here to help us.
2
Pops
Newest Clips
Latest Comments
Most Pops
Print
Save
Turn on live update