I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.
Joined: Jul 02, 2008 Posts: 550 Location: Canterbury, UK
Posted: Wed Jul 16, 2008 8:36 am Post subject: Politicians Gone Wild (PGW)
It's Nuke time!
Yesterday, the Governor of Banco de Portugal (the national bank of Portugal) presented the half-year report on the national economy. As expected, it wasn't nice: GDP growth forecast dropped from 3% to 1,2%, mainly because of the volatility in financial markets, subprime woes and oil pricing.
So far, so realistic.
Problem is, at the end of the speech, the Governor of the Bank, a top-tier economist, goes and tells reporters it's time to restart the discussion of Nuclear Power.
How would you feel if Ben Bernanke or Jean-Claude Trichet said something like this? I mean, the Governor surely is a very accomplished economist, so he shouldn't go for the uni-dimensional solution for a multidimensional problem, right?
I mean, people on the street are scared because they can't understand what's going on. I expected our leader at least knew what was going on, and were hiding info in order to keep society calm and quiet. If this is the leadership available, I'm dropping from the game right now and start acting all survivalist.
Posted: Thu Jul 17, 2008 12:31 am Post subject: Re: Politicians Gone Wild (PGW)
Yesterday Alistair Darling < UK Chancellor> postpned the extra 2p duty to be added to fuel and the tories went further to say they would lower duty if necessarry to regulate fuel price.
i understand the need for some lind of regulation but would think that current conditions need oil prices to act as an incentive to cut back on usage. One of the main reasons I feel so negative about the situation is that being an ex politician i dont believe that any political leader can be strong enough to make the correct decisions. If they did, the would become unelectable anyway!
on the nuclear issue. Is there anyone out there who feels guilty.for being anti- nuclear in the past?
CarlosFerreira wrote:
It's Nuke time!
Yesterday, the Governor of Banco de Portugal (the national bank of Portugal) presented the half-year report on the national economy. As expected, it wasn't nice: GDP growth forecast dropped from 3% to 1,2%, mainly because of the volatility in financial markets, subprime woes and oil pricing.
So far, so realistic.
Problem is, at the end of the speech, the Governor of the Bank, a top-tier economist, goes and tells reporters it's time to restart the discussion of Nuclear Power.
How would you feel if Ben Bernanke or Jean-Claude Trichet said something like this? I mean, the Governor surely is a very accomplished economist, so he shouldn't go for the uni-dimensional solution for a multidimensional problem, right?
I mean, people on the street are scared because they can't understand what's going on. I expected our leader at least knew what was going on, and were hiding info in order to keep society calm and quiet. If this is the leadership available, I'm dropping from the game right now and start acting all survivalist.
Note the reference to nuke, as the middle (3rd) of 5 points. I understand to Brits, nuke power is a matter of fact, but it still shocks me. Great speech, though. First world leader to acknowledge Peak Oil and the need for alternatives?
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