I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Joined: Mar 06, 2005 Posts: 86 Location: Cyberspace
Posted: Mon Apr 04, 2005 8:09 pm Post subject: Chile
Energy-shortage winter
ahead in Southern Cone Chilean National Energy Commission reported
that the natural gas supply shortage during March
2005 was equivalent to May 2004, the worst month
of last year with an average drop of 30,4% equivalent
to 7,2 million cubic metres less of gas per day.
The report indicates that the worst cut in natural gas supply from
Argentina was last March 20 with a contraction of 9 million cubic
metres that is 39% of total supply. In 2004 the largest volume fall
occurred May 31 when Argentina failed to pump 10 million cubic
metres of natural gas, equivalent to 45% of total supply.
On average that month’s supply shortage was 30,7%, just three
tenths above the March 2004 figure.
The Chilean government and private sector are nervous about
supply prospects and its impact for residents and industry since
cuts are expected to increase in the coming months of May and
June.
Currently shortages are affecting 85% of industries in Santiago’s
metropolitan region.
Last week Metrogas the only natural gas distributor in Santiago
said it ceased receiving 68% of the normal contracted gas supply
from Argentina.
Argentina supplies almost 90% of Chile’s natural gas demand but
last winter President Kirchner’s administration decided to favour
domestic demand, forcing Chile to face a serious shortage which
also strained relations between neighbouring countries.
This year the situation could be even worse since the overall
Southern Cone is suffering from insufficient rainfall, and the south
of Brazil, Uruguay plus certain areas of Argentina which depend on
hydroelectricity are having significant production shortages and have
announced programs to save energy.
Original source: Mercosur, April 3, 2005
MarioPro
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