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DantesPeak
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Joined: Oct 23, 2004
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Location: New Jersey
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 Posted: Sat Jul 05, 2008 4:11 pm Post subject: Asleep at the Spigot: NY Times Says We Were Warned |
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The NY Times says "this is one crisis we were warned about". But did anyone hear the warning? Did they just forget? Or is the NY Times and major media itself just waking up to misunderstanding energy trends over the last decade?
| Quote: | Asleep at the Spigot
By NELSON D. SCHWARTZ
Published: July 6, 2008
JUST three years ago, with oil trading at a seemingly frothy $66 a barrel, David J. O’Reilly made what many experts considered a risky bet. Outmaneuvering Chinese bidders and ignoring critics who said he overpaid, Mr. O’Reilly, the chief executive of Chevron, forked over $18 billion to buy Unocal, a giant whose riches date back to oil fields made famous in the film “There Will Be Blood.”
For Chevron, the deal proved to be a movie-worthy gusher, helping its profits to soar. And while he has warned about tightening energy supplies for years and looks prescient for buying Unocal, even Mr. O’Reilly says that he still can’t get his head around current oil prices, which closed above $145 a barrel on Thursday, a record.
“We can see how you can get to $100,” he says. “At $140, I just don’t know how to explain it. We’re surprised.”
Outside the thriving oil patch, it makes for a bleak economic picture. But it didn’t have to be this way.
Over the last 25 years, opportunities to head off the current crisis were ignored, missed or deliberately blocked, according to analysts, politicians and veterans of the oil and automobile industries. What’s more, for all the surprise at just how high oil prices have climbed, and fears for the future, this is one crisis we were warned about. Ever since the oil shortages of the 1970s, one report after another has cautioned against America’s oil addiction. |
New York Times
A four page report
Lee Raymond, former chief of Exxon Mobil, says of today’s oil prices: “There is no quick-fix on this. By the time you panic, it is way too late.”
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Ludi
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Joined: Dec 27, 2004
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Location: zombie horde wonderland
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| Posted: Sat Jul 05, 2008 4:16 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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"Why didn't anyone tell us!"
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threadbear
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Joined: Jan 22, 2005
Posts: 7212
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| Posted: Sat Jul 05, 2008 4:50 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| Looks like NYTimes has found another parade to march in front of. Goofballs. We were warned alright, by Jimmy Carter. If the New York Times, Washington Post hadn't destroyed the man, AND everything he stood for, with their organized smear campaign, we'd be better off. |
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pstarr
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Joined: Sep 27, 2004
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Location: Behind the Redwood Curtain
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| Posted: Sat Jul 05, 2008 5:57 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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For every article the NYT writes on overconsumption it finds a thousand exciting new ways to buy and see new shiny pretty things.
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IanC
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Location: Portland Oregon, USA
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| Posted: Sat Jul 05, 2008 7:28 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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Good point. They are very much an Establishment publication. Just look at their advertising. They promote an overconsumptive lifestyle, while occasionally wagging their fingers at us.
The NYT is definitely NOT the best place to get your news about PO, resource depletion, etc.
-IanC |
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roccman
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Joined: Apr 27, 2007
Posts: 4262
Location: The Great Sonoran Desert
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| Posted: Sat Jul 05, 2008 7:48 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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Raymond did his job and did it very well...made money for his investors.
End of story.
He's covered...was not in the job description to save the planet from PO.
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Cabrone
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Joined: Apr 21, 2006
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Location: London
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| Posted: Sun Jul 06, 2008 5:20 am Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| Quote: | | "Why didn't anyone tell us!" |
Was anyone asking? Does anyone care?
Until the US population holds their elected representatives to account then nothing will change.
Can you imagine the French putting up with the crap the US public does?
No, I can't either.
Maybe a bit of rioting and civil disobedience would rattle a few cages up on high (seems to work for the French). |
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wisconsin_cur
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| Posted: Sun Jul 06, 2008 5:32 am Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| Cabrone wrote: | | Quote: | | "Why didn't anyone tell us!" |
Was anyone asking? Does anyone care?
Until the US population holds their elected representatives to account then nothing will change.
Can you imagine the French putting up with the crap the US public does?
No, I can't either.
Maybe a bit of rioting and civil disobedience would rattle a few cages up on high (seems to work for the French). |
Can you imagine the American public putting up with a bunch of unemployed or underemployed hoodlums burning their cars?
France has its own problems, problems with those who love civil disobedience will not allow their government to address.
Americans love their cheap gas. The French love their "cheap" social net. Both are homo sapiens. Both are refusing to make some hard choices that need to be made.
France: on the streets again
French safety net frayed by unemployment
Sarkozy was elected to fix the problems. Perhaps it is his social life which proved the distraction but perhaps he is also practicing the art of the possible and knows that he cannot (yet?) overcome the entrenched political interests of the French welfare state.
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Cabrone
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Location: London
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| Posted: Sun Jul 06, 2008 6:20 am Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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I think Mr Maher says it all (apart from soccer  ).
http://www.youtube.com/watch?v=tcz_NHAFGS0
I hope you can all afford your heating bills this winter (not that the Neocons seem to give a crap).
Best of luck. |
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wisconsin_cur
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| Posted: Sun Jul 06, 2008 6:30 am Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| Cabrone wrote: | I think Mr Maher says it all (apart from soccer ).
http://www.youtube.com/watch?v=tcz_NHAFGS0
I hope you can all afford your heating bills this winter (not that the Neocons seem to give a crap).
Best of luck. |
I will not have a problem. We only use a petrol product for hot water.
I hope London does well also. This year shouldn't be too bad... the future, however, a little less so.
The Oil Drum
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"Against stupidity the gods themselves contend in vain."
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"Remember Krondstat"
-Smallpoxgirl |
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Cabrone
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Joined: Apr 21, 2006
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Location: London
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| Posted: Sun Jul 06, 2008 1:58 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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Oh I don't deny that we're in the crap too - both countries suffer from dysfunctional politicians who consider planning for next month to be long term thinking.
My heating bills will be OK, I'm prepared. Those around me will be squealing badly though. |
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GASMON
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Joined: Mar 29, 2008
Posts: 655
Location: England
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| Posted: Sun Jul 06, 2008 2:52 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| Cabrone wrote: |
Oh I don't deny that we're in the crap too - both countries suffer from dysfunctional politicians who consider planning for next month to be long term thinking.
My heating bills will be OK, I'm prepared. Those around me will be squealing badly though. |
Yes, crap really hits the fan this winter. BIG nat gas rises in time for the winter heating season. Coupled with increased taxes, food & ever spiralling fuel - God knows what will happen.
How will you be OK - have you a term fixed price contract ? - difficult to get now. Most wont have - self included -just run out - just have to freeze a bit, like we did when we were kids. Didn't kill us did it ?.
Back to the 50's / 60's lifestyles I think. IF were lucky.
BTW I'm in the gas industry, distribution mains renewal. LOTS of worry & concern at the top re continuity & availiability of UK gas supply, in the years to come.
Just a snapshot of UK Gas & Electricity problems (NO answers !!!!!!!!)
http://www.igem.org.uk/download/document/07_IGEM_RePowering_Britain%20.pdf
Gasmon
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vetusfirma
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| Posted: Sun Jul 06, 2008 4:19 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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Every body here is doing the same thing they accuse the government of getting ready to do.
LOOKING FOR THE SCAPEGOAT......
Its so funny to see.
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wisconsin_cur
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Joined: May 10, 2007
Posts: 2730
Location: The Entropisphere
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| Posted: Sun Jul 06, 2008 4:26 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| vetusfirma wrote: | Every body here is doing the same thing they accuse the government of getting ready to do.
LOOKING FOR THE SCAPEGOAT......
Its so funny to see. |
I am just trying to promulgate the idea that we are all in the same boat and that no place is immune. I try to be the anti-scapegoat.
The people around me will suffer as much as any other group. I think I am in an "OK" situation, which just means I may have the resources to ride this wave.
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"Against stupidity the gods themselves contend in vain."
-Friedrich von Schiller
"Remember Krondstat"
-Smallpoxgirl |
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hironegro
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Joined: Apr 08, 2008
Posts: 270
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| Posted: Sun Jul 06, 2008 6:33 pm Post subject: Re: Asleep at the Spigot: NY Times Says We Were Warned |
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| wisconsin_cur wrote: | | vetusfirma wrote: | Every body here is doing the same thing they accuse the government of getting ready to do.
LOOKING FOR THE SCAPEGOAT......
Its so funny to see. |
I am just trying to promulgate the idea that we are all in the same boat and that no place is immune. I try to be the anti-scapegoat.
The people around me will suffer as much as any other group. I think I am in an "OK" situation, which just means I may have the resources to ride this wave. |
Yeah by dissing France and Uk. You're classy! |
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