It's all related!! Oil,.subprime,

Free Thinker
In the first article I punched into the google search engine "Canada oil sands wages" and got an excellent article how the subprime crisis could be an economic reckoning that Bush and Bernanke will excerbate. They will because they support the top rich 1%.

In the first second article I learn big biz wants a national energy policy. A good policy might be to slow down oil sands development due to enviromental damage and huge future earnings. With the Canuck buck soaring with the price of oil, and weak political leadership, why speed development of the oil sands to appease Bush and disasterous policies coming out of the USA?

The future is coming very fast.
Can you cheat a little bit and paste some of the Globe and Mail article here? Its old now anyways, they won't shoot you for it...

I agree that "they don't care 'cuz it is the top1%" that matters to Bushies.

I heard Ron Paul [Presidential candidate Rep] say that "Empires all end because they go broke running the world" and that "America is going broke right now from all the military bases and this war on terror and CIA budgets" [and then he says: "elect ME and I won't let that happen"]. His remarks are on the PBS website

If you are wondering about oil sands wages, I was from Alberta and heard - but again, I don't know for sure - and I have a reputation for that - that if you have the qualifications to be a worker on the actual oil sands operations, you will get a salary about double anywhere else for the same work... or journeyman trades get about $40 to $50 an hour and bonuses and living quarters and life is good but you agree to work "all the time" or they don't hire you. Welders/pipefitters can get $200 a day.

Or, if you go to Fort MacMurray and work ANYWHERE you will get $20 or $30 bucks an hour... Open a sandwich stand [one lady from here in small town BC did] and rake in the dough!!

The problem is that you have to live in a tent or your car - there are litterally no places to rent/buy/shower in. Even the campgrounds are full, and winter is awfully cold up there.
Free Thinker
Now the Guardian on the web has an article about Peak Oil, the "theory" that ignored idea which says everything is not fine regarding energy.,,2196435,00.html

Steep decline in oil production brings risk of war and unrest, says new study

Output peaked in 2006 and will fall 7% a year
Decline in gas, coal and uranium also predicted

Ashley Seager
Monday October 22, 2007
The Guardian

World oil production has already peaked and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown.

The German-based Energy Watch Group will release its study in London today saying that global oil production peaked in 2006 - much earlier than most experts had expected. The report, which predicts that production will now fall by 7% a year, comes after oil prices set new records almost every day last week, on Friday hitting more than $90 (44) a barrel.
The world soon will not be able to produce all the oil it needs as demand is rising while supply is falling. This is a huge problem for the world economy," said Hans-Josef Fell, EWG's founder and the German MP behind the country's successful support system for renewable energy.

The report's author, Joerg Schindler, said its most alarming finding was the steep decline in oil production after its peak, which he says is now behind us.
The results are in contrast to projections from the International Energy Agency, which says there is little reason to worry about oil supplies at the moment.
However, the EWG study relies more on actual oil production data which, it says, are more reliable than estimates of reserves still in the ground. The group says official industry estimates put global reserves at about 1.255 gigabarrels - equivalent to 42 years' supply at current consumption rates. But it thinks the figure is only about two thirds of that.
Global oil production is currently about 81m barrels a day - EWG expects that to fall to 39m by 2030. It also predicts significant falls in gas, coal and uranium production as those energy sources are used up.
Britain's oil production peaked in 1999 and has already dropped by half to about 1.6 million barrels a day.
The report presents a bleak view of the future unless a radically different approach is adopted. It quotes the British energy economist David Fleming as saying: "Anticipated supply shortages could lead easily to disturbing scenes of mass unrest as witnessed in Burma this month. For government, industry and the wider public, just muddling through is not an option any more as this situation could spin out of control and turn into a complete meltdown of society."
Mr Schindler comes to a similar conclusion. "The world is at the beginning of a structural change of its economic system. This change will be triggered by declining fossil fuel supplies and will influence almost all aspects of our daily life."
Jeremy Leggett, one of Britain's leading environmentalists and the author of Half Gone, a book about "peak oil" - defined as the moment when maximum production is reached, said that both the UK government and the energy industry were in "institutionalised denial" and that action should have been taken sooner.
"When I was an adviser to government, I proposed that we set up a taskforce to look at how fast the UK could mobilise alternative energy technologies in extremis, come the peak," he said. "Other industry advisers supported that. But the government prefers to sleep on without even doing a contingency study. For those of us who know that premature peak oil is a clear and present danger, it is impossible to understand such complacency."
Mr Fell said that the world had to move quickly towards the massive deployment of renewable energy and to a dramatic increase in energy efficiency, both as a way to combat climate change and to ensure that the lights stayed on. "If we did all this we may not have an energy crisis."
He accused the British government of hypocrisy. "Tony Blair and Gordon Brown have talked a lot about climate change but have not brought in proper policies to drive up the use of renewables," he said. "This is why they are left talking about nuclear and carbon capture and storage. "
Yesterday, a spokesman for the Department of Business and Enterprise said: "Over the next few years global oil production and refining capacity is expected to increase faster than demand. The world's oil resources are sufficient to sustain economic growth for the foreseeable future. The challenge will be to bring these resources to market in a way that ensures sustainable, timely, reliable and affordable supplies of energy." The German policy, which guarantees above-market payments to producers of renewable power, is being adopted in many countries - but not Britain, where renewables generate about 4% of the country's electricity and 2% of its overall energy needs.

Gee, maybe it is time to panic a little here to get some action.

Then Bloomberg has an article on the "theory".

Global Oil Output Has Already Peaked, Pickens Says (Update1)

By Jim Kennett

Oct. 19 (Bloomberg) -- World oil output has already peaked, and prices that have surged to record highs above $90 a barrel are a sign of things to come, said investor Boone Pickens, chairman of Dallas-based BP Capital LLC.
Global production has peaked at 85 million barrels a day, Pickens, 79, said in an interview today at a Houston conference sponsored by the Association for the Study of Peak Oil & Gas, a non-profit think tank. Oil will rise to $100 a barrel before falling to $80 again, he said. Earlier this week, he said crude would reach $100 by year's end.
``As this unfolds, you're going to have to find alternatives that are going to do the job that oil is doing,'' Pickens said. ``Everyone is going to have to come to grips with this in the next two or three years. People are going to have to figure it out.''
Peak oil is the theory that world production has reached or is about to reach its zenith, after which it will begin an unstoppable decline. Critics say it's impossible to know when petroleum output has peaked, given uncertainties estimating global reserves. Previous efforts to peg a date for peak output have been wrong, they say.
Investors such as Pickens and analysts like Matthew Simmons of Houston investment bank Simmons & Co. International support the peak oil theory. Executives from companies such as Exxon Mobil Corp. have downplayed the possibility.
``They talked like $50 was going to be difficult, and $60 and $70. We went through those like a knife through hot butter,'' Pickens said.
Last month, Pickens predicted that oil would reach $100 a barrel after falling to $78. Futures in New York dropped as low as $78.35 on Oct. 8, and touched a record high of $90.07 today.
Dividends, Buybacks
Pickens said the major oil companies should be doubling dividends and cutting buybacks.
``I think the repurchase of stock in the market is telling something,'' he said. ``It's telling the market that we can't grow.''
The companies will be manufacturing operations eventually, he said. ``The reserves will be gone and they're going to be refiners and processors,'' Pickens said.
He also said natural-gas prices may drop to $6.50 per million British thermal units in the spring of 2008 and that with a warm winter, prices could be low next year. They could go back up in 2009, he said.
To contact the reporter on this story: Jim Kennett in Houston at .
Last Updated: October 19, 2007 18:51 EDT


The G&M article now has to be paid for now.

Similar Threads