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Ostrich-like Denial Continues

Submitted by Denis Tegg on 16 February 2011 - 10:25am | updated 16 Feb 2011 | Blog entry

In August 2009 I wrote an opinion piece published in the New Zealand Herald - "Country Oblivious to Next Oil Shock". I opined that “the spike in oil prices to US$147 a barrel in 2008 helped trigger the global recession. And soon after a global economic recovery, the inevitable return to triple-digit oil prices will lead the world right back into recession.” Back then the oil price was around US$70 a barrel – today Brent Crude is indeed over US $100 – in triple digit territory. » Read more

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Peak Oil For Saudi Arabia confirmed by WikiLeaks

Submitted by Denis Tegg on 9 February 2011 - 10:00pm | updated 09 Feb 2011 | Blog entry

Projections by peak oil people that Saudi Arabia oil reserves have been grossly overstated (by 40%) and that the country can no longer prevent world oil prices rising have been confirmed in confidential cables from the US Consulate, released by WikiLeaks » Read more

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