What Is Worse..A leaking oil well…Or one that leaks and catches fire

I do not normally post twice in one day but the contrast of this story with the cute little story is laugh out loud funny and sob in you beer sad..

http://blogs.ft.com/energy-source/2009/11/02/whats-worse-than-an-oil-rig-leaking-into-the-sea/

What’s worse than an oil rig leaking into the sea?

November 2, 2009 10:21am

by Kate Mackenzie

An endless fire on an oil rig, perhaps.  The West Atlas rig and the Montara wellhead platform operated Thailand’s PTT Exploration and Production burst into fire on Saturday, 10 weeks after it began spewing oil and gas into the sea. The fire can’t be extinguished as gas from the well is fuelling it, but PTTEP says it is preparing 4,000 barrels of heavy mud to pour down a relief well to try and kill the fire.

The leak is already looking like an environmental disaster – and the political fallout is also growing. Greens and the opposition are attacking the government, and controversy is building over the environmental reports carried out so far by the Australian government – with critics saying that surveys should have looked at the southern side of the rig instead of just focusing on the northern side, where the oil was thought to be billowing.

The West Australian government, meanwhile, is using the disaster to argue that the federal government should not take jurisdiction for offshore oil and gas.

As for the oil and gas industry, well, it doesn’t look good, analyst Peter Strachan told the ABC:

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For what he said and more please follow the link….but then you know what he said, “OH Shit”.

Oil Bubble – No way! There would have to be a Market in Oil for there to be a Bubble

There is no such thing as supply and demand in the liquid carbon fuel markets so it is tough to argue that there was a “Bubble” per se in the run up to 140 $$$ oil. For instance, oil spikes and gas hikes are being blamed on a “weak dollar” but in fact should be attributed to the fact that 2 major refineries in the US have been shut down and a 1000 workers laid off. In the case of the oil spike, speculators clearly ran up the price. Nearly 25% of the oil mysteriously “disappeared” from the market, only to reappear as the market fell. Those are the classic “finger prints” of a speculator driven rip off. But some people want to fog the headlights with argle bargle.

http://www.trinidadexpress.com/index.pl/article_opinion?id=161551563

An oil bubble

Following on last week’s topic, some have suggested that maybe, like the housing bubble in the US, the spike in oil prices and their subsequent collapse could have been an oil price bubble that also pulled up the prices of natural gas.

First, we should examine the phenomena that govern the life cycle of the economic bubble-its start, growth and eventual collapse. There is no consensus on what causes a bubble. Further, one view is that a bubble can only be identified after it has manifested itself in all of its stages. It is not clear-cut since even now after the collapse of oil prices there are still questions as to whether there was an oil economic bubble. (Did we have a housing bubble?).

One thesis is that high market liquidity is necessary, though not a sufficient condition for its start. This encourages people to invest in a particular asset both to preserve the value of their money in the face of inflation, but also to sometimes sell at a higher rate later to make, as it were, a killing.

What was of particular concern in the US housing bubble is that people were persuaded to enter into mortgages that they could not really afford while the prices of the assets were rising. High liquidity encourages mark-up inflation across the board and investing in a bubble suggests that such activities may also be seen as hedges against headline inflation.

At the peak of the bubble the price fetched by the asset is far greater than the real market value, even to produce it from scratch. When the bubble bursts, prices fall and many are left with an asset, say, houses, for which they hold inverted mortgages whose values are far in excess of what the asset is worth.

Also, the mortgagee may not be able to service these assets and we have heard stories of people returning the keys of houses to the banks and walking away in the aftermath of a bubble. Looking back at the investment frenzy of the bubble many commentators have remarked on the herd instinct of the investors -more like a stampede as the herd races towards a cliff.

Last week’s article demonstrated that because of the absolute elasticity of the supply of paper-oil on the futures market, this market on its own, without reference to the economic fundamentals of the physical-oil market, cannot support a bubble. Therefore, the evidence, if any exists, has to be sought in the physical market.

In order for speculators to influence the trend price of physical-oil, futures and index investors have to continue to buy large quantities of physical-oil and hold these quantities off-market. There is no evidence that this occurred and if it did it would have to be immense quantities to manipulate a worldwide physical market as large as the present crude oil market.

Yet because of Peak Oil a bubble in oil prices could be established. Oil inventories were not excessive and any increase that there was can be explained away by the fact that oil use, particularly in China and India, also increased, impacting positively on the associated inventories.

Another test for an oil bubble (Stuart Sandiford in the Oil Drum, “Is Oil in a Price Bubble”) is the rate at which the asset price increased and if this was faster than exponential growth a bubble is in the making.

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dot dot dot (as they say)

If one were to examine the depreciation of the US dollar (the currency in which oil/gas prices are quoted) then with the US dollar now pegged at 1.09 Euros, the lowest it has been for seven months, it is clear that oil price adjustment is in part related to producers trying to counteract the depreciating US dollar and (temporary) stockpiling.

As the US dollar depreciates the TT dollar (tied to it) also depreciates, compounding its local depreciation against the US dollar. Thus our foreign revenues will reflect this US dollar depreciation, stockpiling and the resulting price volatility.

maryking@tstt.net.tt

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Meditation On Living Off The Land – Then there are the log cabin and gardening crowd

I do not believe that living off the land has to be conceptualized as pastoral idealism. All I think it means is giving back to the Earth as much as we take. I am not sure that we have to give up on technology to accomplish Earth centered practices. What we have to stop is growth. Still there are many people who if given the chance would go “back” to a rural existance. Then there are those that really want to go native:

 http://www.ehow.com/how_136589_live-land.html

How to Live Off the Land

Instructions

  1. Step 1

    Clarify your objectives. Is your goal to experience a short-term wilderness retreat, live in harmony with nature for the long haul or just survive a reality-show stint in the South China Sea? What level of technology and tools will you employ: GPS device or compass and sextant? Zippo or flint and steel?

  2. Step 2

    Enroll in a wilderness preparedness course, such as those offered by Outward Bound (outwardbound.com) or the National Outdoor Leadership School (www.nols.edu). You will learn vital skills such as navigating with a map and compass, shelter construction and first aid.

  3. Step 3

    Choose an environment with significant opportunities for food, water and shelter. Solo adventures are really only feasible in warm or temperate climates. Abundant water is essential to survival. If you don’t have a reliable source of clean water, become expert at purifying water in large quantities.

  4. Step 4

    Become expert at starting a fire without matches. Your best bet is probably the bow-drill technique. For detailed instructions on this, go to www.wmuma.com/tracker/skills/fire/bowdrill/.

  5. Step 5

    Learn how to make a basic shelter. Review 474 Survive Being Lost for instruction. Choose a camping spot with easy and reliable water access. Without a mechanical system of delivery and storage, obtaining water may be your biggest daily task.

  6. Step 6

    Know how to use, repair and sharpen basic tools. Living off the land requires that you get very close to that land. Axes, knives, shovels, hoes and fishing gear will be essential to your survival.

  7. Step 7

    Study the flora and fauna of your intended destination. Be able to identify edible plants and practice locating, harvesting and preparing them long before you set out.

  8. Step 8

    Learn to see and feel changes in the weather and to take appropriate action.

  9. Step 9

    Practice whatever hunting method you choose until you are an expert. Hunting is difficult and unpredictable; fishing is more reliable and requires less physical effort.

  10. Step 10

    Learn how to process skins in order to make clothing. Practice harvesting reeds and grasses in order to make baskets and rope.

  11. Step 11

    Keep an apartment in Manhattan for those times when you need to get away from it all.

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I think it is amazing how much you have to know and how skillled you have to be to do “back to nature” well.

Then there are the people who want a house and an outhouse instead of a tent:

 http://www.organic-gardening-and-homesteading.com/self_reliance.html

Self Reliance – How to Live Off Your Homestead

Is self reliance your dream? More people are turning to homesteading, depending upon themselves for their food and making a living off their land. If you long to get off the office treadmill and onto your own land, here are some crucial steps you should take to pursue your life of freedom

Get Out of Debt

As any farmer will tell you, unless you own a corporation with hundreds, if not thousands of acres, you won’t make a fabulous income living off the land. Those farmers who do own hundreds of acres and thousands of dollars worth of equipment (along with the mortgages to prove it) are struggling to get by. The secret is to live simply and downsize.

Sell that newer car with those high car payments and buy a used model, preferably one with no payments. Avoid fast food and cook at home instead. Learn to live on a budget and cut back on unnecessary expenses. Then use that extra money to pay off your loans.

Get Some Land

You don’t need hundreds of acres, but if you want to live off your land, you will need at least five. You will want enough space for a good sized garden, along with some farm animals. Live in town? Consider selling or renting that house and buying a used manufactured home set on a small acreage instead. Many people do it and live quite comfortably – and debt free.

Learn to Grow Your Own Food

Homestead Garden

Put in a lot of raised beds and grow potatoes, carrots, tomatoes and other vegetables. Learn to preserve your food through canning, drying and freezing, so that you go to your pantry instead of the grocery store, cutting down on cost and time. Growing food is one of the most satisfying aspects of self reliance.

Get Your Goat

Goats will supply you with milk, meat and cheese. Control their diet – only hay and grains – and your goat’s milk will taste exactly like cow’s milk, only sweeter. Plus, many people are realizing the health benefits of raw goat’s milk, making it a marketable product. Get two or three female goats – or does – along with a billy goat, and you will have enough milk for your family and some extra to sell to cover your cost.

Raise Chickens

These wonderful birds will supply you with eggs, meat, and even income if you raise enough of them. Fresh chicken eggs are easy to sell. These eggs are delicious, and if they come from chickens who have eaten mostly grass and insects – chickens who live in chicken tractors, for example – they are also far healthier and more valuable than the store-bought brand.

Diversify What You Sell

Many people who try living off the land make the mistake of raising a single product in large supply and then selling it. But if the crop fails, then you are in trouble. Instead, raise a small supply of several items to sell. Sell chicken eggs and goat’s milk, honey and produce when it’s in season. That way if one item fails to produce, you have others to fall back on. Your pursuit of self reliance will be easier.

Nigerian Goats Eating

Avoid the Exotic

A few years ago, raising ostriches were all the rage. At least they were until those raising them realized not many people are willing to eat ostrich meat. For self reliance, it is far wiser to stick with the standard fare – chickens, pigs, and beef, for example. Raising something unusual and hoping to get rich off it – like many get rich quick schemes –usually leaves you with an empty pocketbook and an animal nobody wants and you have to feed.

Raise Only What You Want to Eat

This goes with the ostrich example above. If you don’t sell those hundreds of bushels of Japanese beets, then be prepared to eat them. If you don’t enjoy them that much, then don’t grow them.

Be Prepared to Learn a New Trade

My grandfather was a plumber, and even during the depression, he prospered. During hard times, people might not need an insurance adjuster, but they will need someone who can fix their leaky pipes. Consider learning carpentry, electrical work or mechanics. Learn to make practical, useful items that you can sell or barter with. There is no better way to prepare for a life of self reliance

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You get the general idea…

http://articles.moneycentral.msn.com/CollegeAndFamily/RaiseKids/live-off-the-land-in-the-city.aspx

Live off the land — in the city

Wild greens, mushrooms, fruit and even fish and game can be harvested in America’s urban jungles. Dandelion salad, anyone? Or some batter-fried squirrel?

[Related content: savings, save money, groceries, food prices, Donna Freedman]

By Donna Freedman

MSN Money

Feeling squeezed at the supermarket? Maybe you should be looking for food in the parking lot, or in your neighbor’s yard

We’re talking dandelions, feral mushrooms, gleaned fruit, local fish or even those wascally wabbits that overrun city greenbelts. Ingenuity plus a little sweat equity can put fresh, healthful food on the table and possibly provide other benefits as well: exercise, relaxation and a different way of looking at your neighborhood.

For example:

  • Chauncey Niziol fishes for bass and bluegills in downtown Chicago.
  • Steven Rinella traps squirrels and catches pigeons in Brooklyn, N.Y.
  • Jeff Yeager harvests shoots from bamboo that grows in his suburban Washington, D.C., yard.
  • Katy Kolker harvests tree fruit that otherwise would have rotted in Portland, Ore.
  • Radical ecologist” Nance Klehm plucks salads out of city sidewalks and leads urban foraging walks around her home city of Chicago. A few clients are survivalists, she says, or foodies who are looking for “unusual tastes.” But most are simply “curious about the world around them.” Foraging is “about a connection and an interaction with an environment,” she says.

Chowing down on chickweed

According to her Spontaneous Vegetation Web site, Klehm grows or forages nearly everything she eats. The wild greens she harvests are what most people would think of as weeds: wood sorrel, mallow, chickweed, wild mustard and the like. Some can be eaten only at certain times of the year; dandelions, for example, are best when very young.Klehm recommends using wild plants in moderation at first, because their flavors can be strong. Besides, “if you don’t have a very flexible or curious palate, you might not find them tasty” in large quantities.

What’s most important, however, is knowing what you’re eating. The difference between the right plant and a look-alike is the difference between a nice salad and a trip to an emergency room. Where you find your food is important, too, because you could be sickened by food from polluted soils or waterways.

Klehm recommends buying a reputable field guide to local flora. It’s also smart to seek out community-college classes or local plant walks; if neither exists, get a group of like-minded folks together and pay a local botanist to educate you on what and where to pick. Keep that field guide handy whenever you go out on your own, though.

Mushrooms, bamboo and ferns, oh my

Books by the late naturalist Euell Gibbons introduced Yeager, aka “The Ultimate Cheapskate,” to wild edibles. Yeager, who grew up in Ohio and now lives about 20 miles south of Washington, doesn’t harvest as many wild things as he once did. But he still keeps his eyes peeled when walking or bicycling.For example, why pay for chicory when you can find it growing volunteer? “The wild stuff is much more potent,” says Yeager, whose mom and dad were pleased when he brought home this coffee enhancer. They were also fond of the wild onions that he dug up and pickled: “My parents liked those in their martinis.” (Yeager preferred the onions in a cream soup.)

Sometimes a “wild” plant is a cultivated variety that jumped a fence or was spread by birds or carelessly dumped garbage. Yeager has found asparagus, zucchini, black raspberries and even watermelons growing in fields and along roads. His own yard is “packed with bamboo” — an increasingly common landscape plant — so he cooks the young shoots in the spring.

While Chicago native Niziol focuses mostly on fishing and hunting in his weekly ESPN radio program, he’s not strictly carnivorous. Niziol swears by a good plate of fiddlehead ferns, fresh wild carrots (aka Queen Anne’s lace) or a mug of sassafras tea (“it tastes like root beer”).

And mushrooms? Don’t get him started. “I use them every which way I can. I put them in stews, I dry them, I make a killer mushroom soup,” says Niziol, a former outdoors columnist for the Chicago Tribune.

Mushrooms must be picked with care, he notes, because some fungi are poisonous. A good field guide is essential. What’s even better is to find a local mycological society and start taking walks with experts.

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Just so you don’t think I didn’t notice, oil is over 80 $$$ and the speculators are getting ready to bid it up so that oil will be over 100 $$$ by the end of the year, maybe. No matter what, gasoline will be over 3 $$ because the oil companies are shutting down refinery capacity at an increasing rate. Everyone will blame it on the “weakness” of the dollar, which of course, China controls.

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Can We Live Off The Land If We Have To – Bear in mind that doom is rarely sudden

Rome did not end in a day or a week or a year or even a decade. Still the past few day’s meditations have been CAN we live off the Earth peacefully? Today’s is better thought of as WILL we HAVE to life off the Earth peacefully?

http://www.marketwatch.com/story/story/print?guid=47729BA0-933E-4299-92CC-EB41EEE671D2

Paul B. Farrell

Paul B. Farrell

 

Oct. 20, 2009, 1:38 p.m. EDT

Death of ‘Soul of Capitalism:’ Bogle, Faber, Moore

20 reasons America has lost its soul and collapse is inevitable

By Paul B. Farrell, MarketWatch

ARROYO GRANDE, Calif. (MarketWatch) — Jack Bogle published “The Battle for the Soul of Capitalism” four years ago. The battle’s over. The sequel should be titled: “Capitalism Died a Lost Soul.” Worse, we’ve lost “America’s Soul.” And worldwide the consequences will be catastrophic.

That’s why a man like Hong Kong’s contrarian economist Marc Faber warns in his Doom, Boom & Gloom Report: “The future will be a total disaster, with a collapse of our capitalistic system as we know it today.”

No, not just another meltdown, another bear market recession like the one recently triggered by Wall Street’s “too-greedy-to-fail” banks. Faber is warning that the entire system of capitalism will collapse. Get it? The engine driving the great “American Economic Empire” for 233 years will collapse, a total disaster, a destiny we created.OK, deny it. But I’ll bet you have a nagging feeling maybe he’s right, the end may be near. I have for a long time: I wrote a column back in 1997: “Battling for the Soul of Wall Street.” My interest in “The Soul” — what Jung called the “collective unconscious” — dates back to my Ph.D. dissertation: “Modern Man in Search of His Soul,” a title borrowed from Jung’s 1933 book, “Modern Man in Search of a Soul.” This battle has been on my mind since my days at Morgan Stanley 30 years ago, witnessing the decline.

Has capitalism lost its soul? Guys like Bogle and Faber sense it. Read more about the soul in physicist Gary Zukav’s “The Seat of the Soul,” Thomas Moore’s “Care of the Soul” and sacred texts.

But for Wall Street and American capitalism, use your gut. You know something’s very wrong: A year ago “too-greedy-to-fail” banks were insolvent, in a near-death experience. Now, magically they’re back to business as usual, arrogant, pocketing outrageous bonuses while Main Street sacrifices, and unemployment and foreclosures continue rising as tight credit, inflation and skyrocketing Federal debt are killing taxpayers.

Yes, Wall Street has lost its moral compass. They created the mess, now, like vultures, they’re capitalizing on the carcass. They have lost all sense of fiduciary duty, ethical responsibility and public obligation.

Here are the Top 20 reasons American capitalism has lost its soul:

1. Collapse is now inevitable

Capitalism has been the engine driving America and the global economies for over two centuries. Faber predicts its collapse will trigger global “wars, massive government-debt defaults, and the impoverishment of large segments of Western society.” Faber knows that capitalism is not working, capitalism has peaked, and the collapse of capitalism is “inevitable.”

When? He hesitates: “But what I don’t know is whether this final collapse, which is inevitable, will occur tomorrow, or in five or 10 years, and whether it will occur with the Dow at 100,000 and gold at $50,000 per ounce or even confiscated, or with the Dow at 3,000 and gold at $1,000.” But the end is inevitable, a historical imperative.

2. Nobody’s planning for a ‘Black Swan’

While the timing may be uncertain, the trigger is certain. Societies collapse because they fail to plan ahead, cannot act fast enough when a catastrophic crisis hits. Think “Black Swan” and read evolutionary biologist Jared Diamond’s “Collapse: How Societies Choose to Fail or Succeed.”

A crisis hits. We act surprised. Shouldn’t. But it’s too late: “Civilizations share a sharp curve of decline. Indeed, a society’s demise may begin only a decade or two after it reaches its peak population, wealth and power.”

Warnings are everywhere. Why not prepare? Why sabotage our power, our future? Why set up an entire nation to fail? Diamond says: Unfortunately “one of the choices has depended on the courage to practice long-term thinking, and to make bold, courageous, anticipatory decisions at a time when problems have become perceptible but before they reach crisis proportions.”

Sound familiar? “This type of decision-making is the opposite of the short-term reactive decision-making that too often characterizes our elected politicians,” thus setting up the “inevitable” collapse. Remember, Greenspan, Bernanke, Bush, Paulson all missed the 2007-8 meltdown: It will happen again, in a bigger crisis.

3. Wall Street sacked Washington

Bogle warned of a growing three-part threat — a “happy conspiracy” — in “The Battle for the Soul of Capitalism:” “The business and ethical standards of corporate America, of investment America, and of mutual fund America have been gravely compromised.”

But since his book, “Wall Street America” went over to the dark side, got mega-greedy and took control of “Washington America.” Their spoils of war included bailouts, bankruptcies, stimulus, nationalizations and $23.7 trillion new debt off-loaded to the Treasury, Fed and American people.

Who’s in power? Irrelevant. The “happy conspiracy” controls both parties, writes the laws to suit its needs, with absolute control of America’s fiscal and monetary policies. Sorry Jack, but the “Battle for the Soul of Capitalism” really was lost.

4. When greed was legalized

Go see Michael Moore’s documentary, “Capitalism: A Love Story.” “Disaster Capitalism” author Naomi Klein recently interviewed Moore in The Nation magazine: “Capitalism is the legalization of this greed. Greed has been with human beings forever. We have a number of things in our species that you would call the dark side, and greed is one of them. If you don’t put certain structures in place or restrictions on those parts of our being that come from that dark place, then it gets out of control.”

Greed’s OK, within limits, like the 10 Commandments. Yes, the soul can thrive around greed, if there are structures and restrictions to keep it from going out of control. But Moore warns: “Capitalism does the opposite of that. It not only doesn’t really put any structure or restrictions on it. It encourages it, it rewards” greed, creating bigger, more frequent bubble/bust cycles.

It happens because capitalism is now in “the hands of people whose only concern is their fiduciary responsibility to their shareholders or to their own pockets.” Yes, greed was legalized in America, with Wall Street running Washington.

5. Triggering the end of our ‘life cycle’

Like Diamond, Faber also sees the historical imperative: “Every successful society” grows “out of some kind of challenge.” Today, the “life cycle” of capitalism is on the decline.

He asks himself: “How are you so sure about this final collapse?” The answer: “Of all the questions I have about the future, this is the easiest one to answer. Once a society becomes successful it becomes arrogant, righteous, overconfident, corrupt, and decadent … overspends … costly wars … wealth inequity and social tensions increase; and society enters a secular decline.” Success makes us our own worst enemy.

Quoting 18th century Scottish historian Alexander Fraser Tytler: “The average life span of the world’s greatest civilizations has been 200 years” progressing from “bondage to spiritual faith … to great courage … to liberty … to abundance … to selfishness … to complacency … to apathy … to dependence and … back into bondage!”

Where is America in the cycle? “It is most unlikely that Western societies, and especially the U.S., will be an exception to this typical ‘society cycle.’ … The U.S. is somewhere between the phase where it moves ‘from complacency to apathy’ and ‘from apathy to dependence.'”

In short, America is a grumpy old man with hardening of the arteries. Our capitalism is near the tipping point, unprepared for a catastrophe, set up for collapse and rapid decline.

15 more clues capitalism lost its soul … is a disaster waiting to happen

Much more evidence litters the battlefield:

  1. Wall Street wealth now calls the shots in Congress, the White House
  2. America’s top 1% own more than 90% of America’s wealth
  3. The average worker’s income has declined in three decades while CEO compensation exploded over ten times
  4. The Fed is now the ‘fourth branch of government’ operating autonomously, secretly printing money at will
  5. Since Goldman and Morgan became bank holding companies, all banks are back gambling with taxpayer bailout money plus retail customer deposits
  6. Bill Gross warns of a “new normal” with slow growth, low earnings and stock prices
  7. While the White House’s chief economist retorts with hype of a recovery unimpeded by the “new normal”
  8. Wall Street’s high-frequency junkies make billions trading zombie stocks like AIG, FNMA, FMAC that have no fundamental value beyond a Treasury guarantee
  9. 401(k)s have lost 26.7% of their value in the past decade
  10. Oil and energy costs will skyrocket
  11. Foreign nations and sovereign funds have started dumping dollars, signaling the end of the dollar as the world’s reserve currency
  12. In two years federal debt exploded from $11.2 to $23.7 trillion
  13. New financial reforms will do little to prevent the next meltdown
  14. The “forever war” between Western and Islamic fundamentalists will widen
  15. As will environmental threats and unfunded entitlements

“America Capitalism” is a “Lost Soul” … we’ve lost our moral compass … the coming collapse is the end of an “inevitable” historical cycle stalking all great empires to their graves. Downsize your lifestyle expectations, trust no one, not even media.

Faber is uncertain about timing, we are not. There is a high probability of a crisis and collapse by 2012. The “Great Depression 2” is dead ahead. Unfortunately, there’s absolutely nothing you can do to hide from this unfolding reality or prevent the rush of the historical imperative.

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I am just shaking in my boots.

Oh, and if you are interested in hiring a green consultant…I hear these guys are pretty good.

 http://www.greenappleconsult.com/

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Peak Oil To The Oil And Gas Crowd Is Like Turds In The Punch Bowl

Yup, they don’t like it much:

http://www.gjfreepress.com/article/20091014/OPINION/910139986/1021/NONE&parentprofile=1062

The fallacy of peak oil

The onset of this week in Denver has been witness to a conference hosted by the Association for the Study of Peak Oil, a collection of hand-wringers, theorists, and computer-modelers (co-founded, incidentally, by none other than Randy Udall, brother of U.S. Senator Mark Udall), who subscribe to the proposition that the world has reached, or will soon reach, the point of maximum oil production. This historic juncture, the theory asserts, will serve to signal the beginning of the end of the fossil-fueled society, as worldwide demand transcends supply, resulting in a steady, irreversible decline in oil production, terminating at the moment when the very last thimbleful of crude is cajoled out of the ground.

Like virtually all successful fallacies, this one incorporates a large measure of truth; as a finite commodity, the world oil supply will, eventually, be exhausted. Insofar as this is the case, the theory is valid — all other factors remaining fixed, there WILL come a point in time where demand outstrips supply, and production thereby enters a terminal decline phase. The question, of course, is WHEN this will occur.

The most strident peak-oilers postulate that the date is imminent; indeed, many say it has already come and gone. The problem with their reasoning is best illustrated through an example from economic history.

In 1803, Thomas Robert Malthus presented the second edition of his “Essay on the Principle of Population.” In it, he laid out his theory that the rate of population growth would outpace the rate of increase in the food supply. He predicted that famine would ravage the earth in short order.

What Malthus forgot to consider was the role of technological advances in the food production industry. The Agricultural revolution spurred by improved tools, seeds and techniques, enabled many more people to be fed by the labor of many fewer people (and on less acreage).

In a similar vein, the proponents of peak oil tend to overlook some key factors: advances in drilling, exploration, production, and conveyance of oil and natural gas have served to make available sources which as little as a decade ago were considered unrecoverable, and hence not included on peak prediction spreadsheets. Horizontal and directional drilling capabilities, breakthroughs in well logging and evaluation technologies, and advances in production techniques serve as a few examples of innovations which have increased accessibility to, and improved recovery of, hitherto unobtainable resources.

Also conveniently ignored in the petro-doomsday scenarios, are the roles played by unconventional sources, such as oil sand, oil shale, and tight gas formations. For instance, Canada’s oil sands, which at last count hold more than 170 billion barrels of recoverable oil located in northern Alberta, were thought, 40 years ago, to be too expensive and technologically prohibitive to produce on a widespread, commercial scale. Today, oil sands production, both through mining, and in situ (in place) production, using modern techniques such as Steam Assisted Gravity Drainage, accounts for nearly 10 percent of U.S. oil imports, or half of Canadian oil exports. And conservative estimates place the number of recoverable barrels in our own oil shale at between 500 billion and 1.1 trillion (with a ‘T’). To put that in perspective, consider that the lower number represents roughly triple the proven resources in the Middle East.

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I think you get the idea…but apologists for the renewable industry? Wow I never would have guessed that.

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Peak Oil, Peak Food, Peak People, Peak Water Or Peak Sex – Every finite resource runs out

I don’t run much about Peak Oil. Don’t get me wrong. I read their best web postings and sometimes I even publish some of the stuff they report on.

http://www.peakoil.com/

I rarely ever post stuff directly from the “Peak Oil” perspective for the same reasons that I do not post “end of days” stuff. They are BOTH true. That is OIL will run out and the Earth will come to an end but the predictiveness is problematic to say the least. For sure Peak Oil will come true before Peak Days, till either happens though…well the less said the better. They are having a conference in Denver and I thought I would post a couple of pieces so it doesn’t seem like I don’t like them.

Is there such a thing as Peak Sex? Well think about it (:)) there IS only so much that you can have.

http://www.energybulletin.net/node/50359

http://transitionculture.org/2009/10/09/whither-resilience-and-transition-why-peak-oil-has-yet-to-outlive-its-usefulness/

9 Oct 2009

Whither Resilience and Transition? Why ‘Peak Oil’ Has Yet to Outlive its Usefulness

stress_city

It’s been a fascinating few days.  Early in the week, Nate Hagens and Sharon Astyk were suggesting the perhaps the term ‘peak oil’ has outlived its usefulness, given that we have almost certainly peaked, and that the peak oil movement needs to shift its focus.  It echoed something I wrote a while ago, likening ASPO and the wider peak oil movement to a Loch Ness Monster Society, dedicated to establishing the existence of this fabled creature.  They organise conferences, scientific searches of the loch, write papers and journals, and then one day, an entire, intact Loch Ness Monster washes up on the shore.  Then what?  They have no reason to exist any longer, their whole raison d’etre vanishes overnight.

However, I don’t think it is that straightforward.  For me, what we are seeing, taking a step back and looking in the longer time context, is a series of pulses.  Peak oil won’t go away as an issue, it pulses in and out of the collective consciousness and hopefully will increasingly come to underpin Government policy-making.  In July 2008, peak oil was pulsing as the oil price hit record highs, and issues around economics were in the background.  Now, economics has been the key pulse for the last year or so, and peak oil has been pushed off the side of the stage until the last few days.  If Colin Campbell’s original analysis, elaborated by David Strahan in his talk at the 2009 Transition Network conference, is correct, what looks likely is that the two will pulse alternately, as any kind of economic recovery increases demand, which raises the oil prices, which dampens economic recovery, which reduces demand and lowers prices, which increases demand, and so on and so on.  Until the connection between the two becomes clear, they will continue to pulse alternately.

Over the last couple of days, the peak oil pulse has become most prominent, with two excellent reports which will hopefully give Ed Miliband a lot to think about, and dampen the complacency brought about by Malcolm Wicks’ dreadful and fairly pointless report on UK energy security.  The first report, by the UKERC, the UK’s premiere research establishment, sets out to answer the question “what evidence is there to support the proposition that the global supply of ‘conventional oil’ will be constrained by physical depletion before 2030?”, via. a review of 500 published papers on the subject. Its findings are striking (you can read David Strahan’s excellent analysis of it here).  It argues that there is a ’significant risk’ of conventional oil production peaking before 2020, and brands those who argue that it will come some time beyond 2030 as being ‘at best optimistic and at worst implausible’.

ellipse ellipse ellipse as they say in the citation business:

Then today, Ofgem, which regulates electricity and gas markets in the UK, publishes its Project Discovery: energy market scenarios report.  It generates 4 scenarios about where energy prices might go between now and 2020, concluding that its worst case scenario means a 60% increase in energy bills.  In order to be prepared for the decline in UK gas supplies, the shift to low carbon energy generation and the phasing out of nuclear plants, the UK needs to be prepared to invest £200 billion.  Under all of its scenarios, fuel bills will rise, and interestingly, they note that the slower the economic recovery, the less steep the rise in prices.  It is a shot across the bows of what it sees as Government’s keeping of the issue on the long finger, and failure to invest (although it does put nuclear centre stage as part of the solution).

This morning on Radio 4’s Today Programme, shadow energy secretary Greg Clark and energy analyst David Hunter discussed the implications of the Ofgem report with presenter John Humphries.  It was a fascinating piece, mostly along the lines of “how has the Government let this slide for so long”, with Clark trying to make out that the Conservatives have been onto this for years, in spite of the lack of any evidence for this.  When asked what the Tories’ response would be, he replied ‘clean coal’, a technology which Humphries had to point out, doesn’t actually exist yet, a phenomena Clark had tried to sidestep by describing it as ‘pre-commercial’.  No talk, of course, of reducing demand, conservation, rethinking supply chains, of resilience.

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Righto, the Brits are so fascinating to read and watch. Kinda like watching Gold Finches feeding upside down.

While the Americans just call each other names…

http://www.thedenverdailynews.com/article.php?aID=6010

Will oil demand soon outgrow supply?

Peak oil believers think so, but oil, gas companies say that theory is bogus

Gene Davis, DDN Staff Writer

Tuesday, October 13, 2009


A “peak oil” conference wrapping up today in Denver is sounding the alarm that oil demand will soon outgrow supply, posing a potential economic threat to the country’s economic well being.

However, most oil and gas companies say the peak oil theory is bogus and that there are plenty of the natural resource to go around.

Mayor John Hickenlooper is among the peak oil believers. The former geologist told conference attendees yesterday that it’s not a question of if the world will reach peak oil ” meaning the time of maximum oil production ” but when it will happen.

“We cannot afford to ignore the issue,” he said in a statement. “By anticipating the expected rapid changes in both supply and demand, we can begin to frame the issue not only as a challenge but also as an economic opportunity.”

But The Colorado Oil and Gas Association, for one, doesn’t think Hickenlooper’s school of thought has much credibility. 

“For more than five decades, various individuals have claimed that the world had reached, or was nearing, peak oil,” said a statement from the group. “With more than 200 new oil discoveries in the last year alone, it’s safe to say that peak oil enthusiasts are every bit as wrong today as they have been for the past 50 years.”

The Association for the Study of Peak Oil and Gas has been hosting the International Peak Oil Conference at Denver’s Sheraton Hotel since Sunday. The event has featured more than 70 speakers who have talked about “energy, oil, and our future.”

David Bowden, ASPOG executive director, said that after maximum oil production is reached, the United States economy might have difficulties growing without the constant input of steady and inexpensive oil.

As a result, Bowden is urging for people to “conserve, conserve, conserve” and shy away from “our monolithic oil consumption habits.” Although the United States has around 5 percent of the world’s population, the country uses approximately 25 percent of the world’s oil supplies, largely because of automobile usage.

Bowden supports light rail projects like FasTracks instead of building more roads or expanding highways. FasTracks is a multi-billion dollar transit expansion plan to build 122 miles of new commuter rail and light rail.

“Even though FasTracks has its challenges and the system is a bit limited right now, as oil supplies tightens and the prices go up, it will be necessary,” he said.

Critics have continually slammed FasTracks for running behind schedule and over budget.  

“(FasTracks) was such a faulty fiscal plan, it’s inexcusable,” said Jon Caldera of the libertarian Independence Institute earlier this year.

The recession and falling prices at the pump have taken the oil and gas issue out of the headlines. “But when the country pulls out of the recession and starts consuming more oil and growing populations in countries like China and India do the same the issue will become intensified, especially if oil production drops”, Bowden said.

“Anyone who tries to predict the timing and price of oil is engaged in a fools errand,” he said. “But we see the long-term writing on the wall.”

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Oh that is so BIBLICAL:

http://en.wikipedia.org/wiki/The_writing_on_the_wall

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China Threatens Fragile Environment To Get At Frozen Gas Hydrates

China is such a mess. Yet they may also lead the world to a green economy. I guess we stand against the bad they do and applaud them when they do good.

In this case a big BOOOOOOOOOO:

http://chinatibet.people.com.cn/6773590.html

10:15, September 30, 2009

 


Photo shows the gas hydrates. China will likely make a breakthrough in developing gas hydrates, which have been recently discovered on the Qinghai-Tibet Plateau, according to an expert in geological prospecting. (China Daily Photo)
China will likely make a breakthrough in developing gas hydrates, which have been recently discovered on the Qinghai-Tibet Plateau, according to an expert in geological prospecting.The hydrate, which is also known as combustible ice, is a solid matter formed by water and natural gas under high-pressure and low-temperature conditions. It is considered the new energy with the largest deposit in the world.

Zhang Hongtao, chief engineer of China’s Ministry of Land and Resources, said that the discovery of gas hydrates is comparable to the discovery of the Daqing Oilfield 50 years ago.

With a combined permafrost area of 2.15 million sq km, China enjoys advantages in gas hydrates deposits.

Scientists estimate that the hydrates can provide the equivalent of 35 billion tons of crude oil in energy, enough for consumption for 90 years in China, whereas the deposits in Qinghai Province alone make up one quarter.

Wen Huaijun, chief engineer of the No.105 Qinghai Coal Geological Prospecting Team, said that the unique geographical and topographic features make Qinghai’s Muli Region China’s first place where gas hydrates have been found.

He said that thanks to the shallow burial of coal deposits and the thin layer of permafrost soil in the region, breakthroughs are likely to be made in developing the gas hydrates.

However, how to protect the fragile ecological environment on the Qinghai-Tibet Plateau remains a major challenge in tapping the gas hydrates.

It is estimated that the world’s deposits of gas hydrates are 50 times that of natural gas. The discovery of this new energy has brought hopes to the mankind suffering from energy crisis.

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Mormans, Nuclear Waste and the NBA – What do they all have in common?

Energy Solutions that’s what.

http://www.energysolutionsarena.com/

Construction of the EnergySolutions Arena began June 11, 1990 after several months of conceptual design meetings and negotiations with potential lenders. Sumitomo Trust and the Redevelopment Agency of Salt Lake City saw the vision of Larry H. Miller and agreed to fund this new multi-purpose home for the Utah Jazz.
While the “normal” construction period for a project of this type is usually 24 to 30 months, only 15 months and 24 days were available for the completion of the EnergySolutions Arena before the Utah Jazz 1991/92 season opener. This ambitious endeavor was achieved through the cooperation and teamwork of hundreds of individual subcontractors and suppliers and literally thousands of workers both on and off the job site.

Sahara Construction of Bountiful, Utah established a joint venture, O.C./Sahara, with Ohbayashi Corporation for the construction of the 743,000 square foot base building. Sahara also acted as General Contractor for the 7.6 acre pedestrian plaza and the interior tenant improvements within the building. Time constraints required that “fast-track design/build” construction techniques be employed. This method dictates that design is completed as construction is on-going. Responsibility for the structural, mechanical, electrical and civil engineering design was undertaken by the General Contractor. Mechanical and electrical systems were designed and constructed by CCI Mechanical and Western States Electric respectively.
FFKR Architecture/Planning/Interior Design of Salt Lake City worked closely with the construction team to provide design drawings and resolve design issues during the construction process. Based on FFKR’s conceptual design drawings, the General Contractor, with help from its major subcontractors, prepared a guaranteed maximum price contract for the Owner.

Excavation of the 170,000 cubic yards of soil began on an around-the-clock basis as design team members worked feverishly to complete the first design package for the footings and foundations. This process was typical throughout the course of the project as 61 separate bid packages were ultimately prepared.

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http://en.wikipedia.org/wiki/EnergySolutions

EnergySolutions

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EnergySolutions is one of the world’s largest processors of low level waste (LLW), and is the largest nuclear waste company in the United States. EnergySolutions is a publicly traded company NYSE: ES) based in Salt Lake City, Utah, although it has operations in 40 states. Steve Creamer is the founder and current CEO of the company, which formed from the merger of four waste disposal companies: Envirocare, Scientech D&D, BNG America, and Duratek. The company took over several Magnox atomic plants from British Nuclear Fuels plc in United Kingdom on June 7, 2007.[1]

EnergySolutions owns and operates a licensed landfill to dispose of radioactive waste in Tooele County, Utah and operates another in Barnwell County, South Carolina. The company also possesses technology to convert waste into environmentally safe forms, such as durable glass, and is contracted by the United States Department of Energy to assist in waste conversion efforts.

The company holds the naming rights to EnergySolutions Arena.

Creation of EnergySolutions

Envirocare of Utah purchased the Connecticut-based Scientech D&D division in October 2005.[2] On February 2, 2006, Envirocare announced the $90 million purchase of BNG America a subsidiary of British Nuclear Fuels (BNFL) based in Virginia.[3] The merged company would change its name to EnergySolutions, with corporate headquarters based in Salt Lake City, Utah. On February 7, 2006, EnergySolutions announced it would buy Maryland-based Duratek, a publicly-traded company, for $396 million in an all-cash deal.[4] The leveraged buyout was financed by banks led by Citigroup, effectively taking the company private.

After the acquisitions, EnergySolutions has 2,500 employees in 40 states with an annual revenue of $280 million.[5] Additionally, EnergySolutions owns two of the nation’s three commercial low-level nuclear-waste repositories, although its primary competitor, Waste Control Specialists, hopes to build a fourth repository in Texas.

Envirocare

Envirocare was founded by Iranian immigrant Khosrow Semnani in 1988. Semnani served as president of the company until May 1997, when Envirocare’s largest customer—the Department of Energy—requested that he step down in the wake of a bribery scandal.[6] Semnani allegedly bribed Utah’s Division of Radiation Control director, Larry B. Anderson, with $600,000 in cash, gifts, and gold coins over several years. Semnani alleged that he was extorted by Anderson, and the two sued each other in civil court. Semnani agreed to testify against Anderson in a plea bargain forcing him to pay a $100,000 fine for aiding in the preparation of a false tax return.[7] Anderson was convicted to serve 30 months in federal prison on tax charges.

In mid-December 2004, Semnani sold Envirocare for an undisclosed sum. Steve Creamer became the company’s new CEO. The deal was financed by private equity firms, led by Lindsay Goldberg & Bessemer of New York, Creamer Investments, and Peterson Partners both of Salt Lake City. Envirocare management promised to drop plans to bury hotter class B and C nuclear waste in Utah in deference to developing political opposition to the company, which was poised to ban the waste anyway.[8] Envirocare’s management and ownership was retained as it made the acquisitions to become EnergySolutions.

Duratek

Based in Columbia, Maryland, Duratek was founded in 1983. In 1990, the company merged with General Technical Services (GTS); the resulting company was known as GTS Duratek[9]. That year, the company formed a joint venture with another firm — Chem-Nuclear Systems, Inc. — to build a commercial vitrification system.

In 1997, GTS Duratek acquired the Scientific Ecology Group (SEG). In 2000, the company purchased the nuclear services business arm of Waste Management Inc.[10] One year later, the company announced that it was dropping GTS from its name, and was once again known as Duratek.

Duratek was purchased by EnergySolutions at 25.7% premium over the February 7, 2006 stock price when the merger was announced.[4]

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Aww they are soooo green. Watching the basketball team from New Orleans play in the desert got them to think about the environment. The one thing that the Morman’s believe that God will never allow men to harm.

http://www.energysolutions.com/

OUR COMPANY

EnergySolutions, headquartered in Salt Lake City, Utah, is an international nuclear services company with operations throughout the United States and around the world. With over 5,500 world-class professionals, EnergySolutions is a world leader in the safe recycling, processing and disposal of nuclear material. EnergySolutions provides integrated services and solutions to the nuclear industry, the United States Government, the Government of the United Kingdom, hospitals and research facilities.

With an unparalleled safety record, EnergySolutions has implemented a comprehensive “Safety First” approach that provides safety for our workers, the environment and the communities in which we operate.

EnergySolutions offers a full range of services for the decommissioning and remediation of nuclear sites and facilities, management of spent nuclear fuel, the transportation of nuclear material and the environmental cleanup of nuclear legacy sites such as the uranium mill tailings site in Moab, Utah. We own and operate several state-of-the-art facilities including a metal melt facility in Tennessee and a low-level waste disposal facility in Utah.

EnergySolutions is committed to reasserting America’s leadership in the global nuclear industry and to helping the United States achieve energy security, reduce carbon emissions and protect the environment. As a clean, safe and affordable source of energy, nuclear power plays a vital role in solving the world’s energy crisis and meeting the nation’s growing energy demand.

EnergySolutions, we’re part of the solution.

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Wonder if they have been hiring the MAFIA to bury their waste…oh I mean sink boats loaded with their waste at sea? hmmmm

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Overpopulation – We are drownding in ourselves much like flies in a bottle

This has always been the case but the major religions and the ruling elite don’t care because they imagine they live in a different world from the rest of us:

http://www.marketwatch.com/story/wwiii-population-wars-a-12-bomb-equation-2009-09-29

 

Paul B. Farrell

Paul B. Farrell

Sept. 29, 2009, 12:01 a.m. EDT · Recommend (13) ·

The coming Population Wars: a 12-bomb equation

Can Gates’ Billionaires Club stop these inevitable self-destruct triggers?

ARROYO GRANDE, Calif. (MarketWatch) — So what’s the biggest time-bomb for Obama, America, capitalism, the world? No, not global warming. Not poverty. Not even peak oil. What is the absolute biggest, one like the trigger mechanism on a nuclear bomb, one that’ll throw a wrench in global economic growth, ending capitalism, even destroying modern civilization?

The one that — if not solved soon — renders all efforts to solve all the other problems in the world, irrelevant, futile and virtually impossible?

News flash: the “Billionaires Club” knows: Bill Gates called billionaire philanthropists to a super-secret meeting in Manhattan last May. Included: Buffett, Rockefeller, Soros, Bloomberg, Turner, Oprah and others meeting at the “home of Sir Paul Nurse, a British Nobel prize biochemist and president of the private Rockefeller University, in Manhattan,” reports John Harlow in the London TimesOnline. During an afternoon session each was “given 15 minutes to present their favorite cause. Over dinner they discussed how they might settle on an ‘umbrella cause’ that could harness their interests.”

The world’s biggest time-bomb? Overpopulation, say the billionaires.

And yet, global governments with their $50 trillion GDP, aren’t even trying to solve the world’s overpopulation problem. G-20 leaders ignore it. So by 2050 the Earth’s population will explode by almost 50%, from 6.6 billion today to 9.3 billion says the United Nations.

And what about those billionaires and their billions? Can they stop the trend? Sadly no. Only a major crisis, a global catastrophe, a collapse beyond anything prior in world history will do it. Here’s why:

Civilizations collapse fast, crises trigger, leaders clueless

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Have a great day….

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Geoengineering – Love it or hate it, here are 2 views

Hate it:

http://www.alternet.org/environment/142784/james_lovelock%3A_schemes_to_%27reverse%27_global_warming_could_lead_to_disaster

James Lovelock: Schemes to ‘Reverse’ Global Warming Could Lead to Disaster

By James Lovelock, The Guardian. Posted September 21, 2009.

Better, perhaps, to let the earth look after itself than try to regulate its system through mirrors, clouds and artificial trees.

The idea of serious scientists and engineers gathering to discuss schemes for controlling the world’s climate would a mere 10 years ago have seemed bizarre, or something from science fiction. But now, well into the 21st century, we are slowly and reluctantly starting to realise that global heating is real. We may have cool, wet summers in the UK, but we are fortunate compared with the Inuit, who see their habitat melting, and Australians and Africans who suffer intensifying heat and drought. We should not be surprised that public policy is edging ever nearer to geoengineering, the therapy our scientists are considering for a fevered planet.

Our senior scientific society, the Royal Society, met at the start of the month to launch the report “Geoengineering the Climate” and to hear from its representative scientists. The meeting was hosted by the president, Lord Rees, and the chairman was Professor John Shepherd, who chaired the study group. The goal, as Prof Shepherd explained in the Guardian in April, was to investigate theories of “intervening directly to engineer the climate system, so as to moderate the rise of temperature” and to “separate the real science from the science fiction”.

Geoengineering is about deliberately changing the air, oceans or land surface of the world to offset global heating with the hope of restoring the cooler world we enjoyed in the last century. We are now fairly sure that the Earth has grown hotter by about one degree Celsius as a consequence of our own action in taking away as farmland the forests and other ecosystems that previously acted to keep the Earth cool. We also have increased by 6% the flow of CO2 into the air by burning coal, oil and natural gas. If we started global heating, can we reverse it by engineering?

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Or Love it:

http://www.alternet.org/environment/142687/geo-engineering_could_save_the_planet_%C3%A2€%C2%A6_and_in_the_process_sacrifice_the_world_/

Geo-Engineering Could Save the Planet … and in the Process Sacrifice the World

By Jason Mark, Earth Island Journal. Posted September 24, 2009.

Having unintentionally warmed the planet, we may have little choice but to intentionally cool it back down. But at what cost?

Earth is busted. Like a supercomputer whose elaborate code has developed a few bugs, the core operating systems of the planet are frayed: Ocean populations are collapsing, forests are disappearing, soils have become thin. Perhaps most worrisome, the globe’s atmosphere, the ecosystem on which all other ecosystems depend, is overheating. The machinery of life appears to have malfunctioned.

Since the scale of the climate crisis became clear, the strategy for fixing this glitch has focused on remediation. To maintain the atmosphere’s equilibrium, we need to reduce our emissions of greenhouse gases. Our chief goal should be to return the climate to something approximating the pre-industrial status quo.

But what if such a return isn’t possible? What if the planet has gone permanently haywire? As the effects of climate change become obvious and global leaders remain unable to halt emissions, a growing number of scientists say we need to begin researching what’s called “geo-engineering” — ways to artificially reduce global temperatures and/or manipulate plants or the oceans to absorb huge amounts of CO2. Having unintentionally warmed the planet, we may have little choice but to intentionally cool it back down.

Even those most interested in geo-engineering say that the idea of deliberately deforming the planet in order to save it from ourselves is, as Stanford University‘s Ken Caldeira told NPR this summer, “scary.” Yet if we shy away from manipulating the whole globe and continue on our present course, we could be left with a burnt Earth unlike anything ever seen. The scientists who are encouraging government-funded research into geo-engineering are driven by a powerful motive: fear. All too aware of the implications of unchecked CO2 emissions — and worried that political systems aren’t moving quickly enough to respond to changes in the planet’s physical systems — these scientists say we may have no other option than to tinker with the sky.

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As the atmospheric pressure mounts so will the clamor to DO SOMETHING.

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