News update

Oil Price Slide – No Good Way Out
Gail Tverberg
The world is in a dangerous place now. A large share of oil sellers need the revenue from oil sales. They have to continue producing, regardless of how low oil prices go unless they are stopped by bankruptcy, revolution, or something else that gives them a very clear signal to stop.

Oil Price Fall Threatens US Oil Production
Steve Austin,
A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the oil price falls too far, however, the USA’s recent fracking boom will come to an end. Forces are at play to end the USA’s projected energy independence and return the country to dependence on the Middle East for its fuel supplies. The USA’s long-term key supplier, Saudi Arabia, doesn’t want to lose grip on its best customer.

Peak oil vs mean reversion: why trees don’t grow to the skies  
Rajeev Thakkar, Livemint
There are differing views on the significance of peak oil theory, when peak oil will be reached and the production quantity then. Also, the impact on the global economy is not certain. I am no geologist or scientist. But I am a firm believer in the application of mean reversion and the effect of balancing factors in any economic system. Hence, when oil or commodity prices shoot up relentlessly in one direction, a balancing decline becomes a possibility.

29 Bullets That Tell All about Climate Challenge
Mark Fischetti, Scientific American
The United Nations Intergovernmental Panel on Climate Change released it final report crystallizing 13 months of work by more than 800 scientists. The “synthesis report” gives a no-nonsense assessment of how the climate is changing, what is causing the change, the impacts the changes will have on us and the planet, and the “mitigation” steps we should take to prevent the impacts from getting worse.

The End of the Market Economy
John Michael Greer
One of the factors that makes it difficult to think through the economic consequences of the end of the industrial age is that we’ve all grown up in a world where every form of economic activity has been channeled through certain familiar forms for so long that very few people remember that things could be any other way. Another of the factors that make the same effort of thinking difficult is that the conventional economic thought of our time has invested immense effort and oceans of verbiage into obscuring the fact that things could be any other way.

Stop Growing or Meet the Four Horsemen?
Mary Odum
Americans are now receiving unsubtle messages from the universe that perhaps we have reached our limits, and it is time to stop trying to grow the economy. The four horsemen of pestilence, famine, war, and death are emerging on a global basis, as energy inputs wane and the global economic system begins to turn down. Yet feedback from the system is still telling our system to grow expand, when perhaps it would be wiser to expend more energy on resilient contraction.

Climate depression is for real. Just ask a scientist
Madeleine Thomas,
From depression to substance abuse to suicide and post-traumatic stress disorder, growing bodies of research in the relatively new field of psychology of global warming suggest that climate change will take a pretty heavy toll on the human psyche as storms become more destructive and droughts more prolonged. For your everyday environmentalist, the emotional stress suffered by a rapidly changing Earth can result in some pretty substantial anxieties.

Posted by Peak Oil India in Climate Change, Economics, News, Peak Oil and tagged Climate Change, climate depression, Gail Tverberg, Intergovernmental Panel on Climate Change, John Michael Greer, market economy, oil prices, peak oil