Saturday, January 26, 2008

The “Peak Oil” issue is now everyday, front page news

On January 22, 2008 Shell Oil CEO Jeroen van der Veer, Chief Executive issued a letter to all Shell employees about the coming of oil shortages in the near future and the challenges the company and the world faced by the constraints on energy supply and climate change.

Mr. van der Veer is not the first Oil Company CEO's to come clean, Chevron, Total, and the CEO of other companies have been willing to confront the issue, if not the immediacy, of Peak Oil.

The Wall Street Journal, which up until this past summer disparaged the theory (data) or ignored the issue has now had 4 front page articles in the last 90 days on Peak Oil. Today, January 26, 2008 the WSJ had another front page story on Peak Oil, this one covering a "Peak Oil Aware" family in Michigan and that family's efforts to prepare for the social, economic, and political fallout of an oil shortage - AND DID SO WITHOUT MOCKING THEM! Holy Molly!

Remember, the financial markets are "discounting mechanisms", that is they discount in the present the probability of future events. The U.S. energy situation is starting to sink in to the Main Stream Media and the Corporate Establishment. Significant reaction in the market place is not far behind.

I will leave you now withe the prophetic words of the
1960's singer/songwriter Bob Dylan:
(Or you can listen here)

“Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.

Come writers and critics
Who prophesize with your pen
And keep your eyes wide
The chance won't come again
And don't speak too soon
For the wheel's still in spin
And there's no tellin' who
That it's namin'.
For the loser now
Will be later to win
For the times they are a-changin'.

Come senators, congressmen
Please heed the call
Don't stand in the doorway
Don't block up the hall
For he that gets hurt
Will be he who has stalled
There's a battle outside
And it is ragin'.
It'll soon shake your windows
And rattle your walls
For the times they are a-changin'.

Come mothers and fathers
Throughout the land
And don't criticize
What you can't understand
Your sons and your daughters
Are beyond your command
Your old road is
Rapidly agin'.
Please get out of the new one
If you can't lend your hand
For the times they are a-changin'.

The line it is drawn
The curse it is cast
The slow one now
Will later be fast
As the present now
Will later be past
The order is
Rapidly fadin'.
And the first one now
Will later be last
For the times they are a-changin'.” Bob Dylan’s 1964 classic “The Times They are a Changing"


mentatt (at) yahoo (d0t) com

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