Alexander's Commentary
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Climate-Change – Change of Climate
Oil-Around 2013
Finally there: The Campbell’s Atlas of Oil & Gas Depletion
New time arising
Ein heisser Herbst? (A hot Autumn?)
Where is this going? – 3
Where is this going? -2
Where is this going?
Is it important?
A Moment of Truth at Passing
The Iran Hoax
The 2012 Adventure
Solstice Greetings
Taking on the future
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Twist and Turn
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Shale-gas: just a gas?
Little miracles, big wonders
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To Peak or not to Peak, is that the question?
Going on ...
Time for change
Economy; What Economy?
Media Noise Windfall Profit
The Winds of Change
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Reality and Hope
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What goes around, comes around
A throughout, integrated view
Signs of change?
P.P.P. versus Need
Working for climate-change?
Good signs
Contradicting signals
All over again? The difference between perception and reality.
The paradigm, the mind-set and reality
Two minds
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The long view
Leaping to the future
Contango
New signs of hope?
A message of hope?
Some good news anywhere?
A project gone awry?
Traces of light
Driving the markets II
Driving the markets
Meeting reality
Silence for the storm?
The times are changing
Refinery-runs
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Some Questions, no answers
Ocean carbon sinks and returns
The good news, the bad and the ugly
A President speaks the truth!
Green masks
Saving us with or from bio-fuels?
The good news
Driving the oil-price?
A new dilemma?
Kenya: a new oil-frontier?
Forecasting a trend?
Some early signs for 2008
2007; A year to remember
The good news
A bit of a shock II
Fraud alert - bogus job ads
A bit of a shock
A simple but far-reaching idea
Hype, Realism, Convergence
Energy-security?
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A different reality
PPP: Prices, poverty and politics
A whirling 2007
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One world, two systems?
Oil and development?
The year 2065?
Mixed signals II
Mixed signals
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Awakening
A War on hold?
No Comment
Changing balances
Truth or Deception?
A fresh overview
Bigger picture first
National Interests vs. Shareholders Value
Fear??
'The Dialogue'
Consumption
Do we actually need to worry?
 

A project gone awry?

2008-11-25

With oil-price now hovering in the $45-50 price-band, being back where it was less than 2 years ago, we can ask ourselves: what was this all about?
Starting with spring 2007 the price was talked up to unprecedented levels within a bit more than a year.
Some governments and many pundits were speaking about shortage, peak oil, possible conflicts and the like and setting projections for soon-to-be-reached $ 200 (or more) per barrel, making it possible for speculators, often from the same house, to rake in billions of dollars.
This triggered ever more speculators in entering the market, further driving up the price and allowing for further billions of dollar of profits.

It also allowed mega-profits for the producer countries, which on the one hand were able to improve their economies and on the other hand invested large amounts in projects that would cater for the supply of the future, as depletion and peak oil became more of a reality.

But then the oil price plummeted. And whilst short selling had been determined as one of the major factors (or causer?) of the rapidly expanding and worsening credit crisis, speculators were able, and allowed, to make billions, again. This time the effects for the producer countries were less benign.

We are now in the beginning of a global economic crisis, of which the scope still needs to be realised, but which may be much worse than what most of us will expect. In a growing chain-reaction we see almost all economies of the world now affected, multi-million people losing jobs, savings, pensions, homes and often that for which they worked for decades.

Many (oil-) projects have been halted, are in trouble or questioned, depending on how long the current low oil-price may be maintained, and thereby putting in jeopardy the security of supply of the future, as depletion has not stopped and demand is down but nevertheless still around the 85 mm bpd.

So what was it all about?

Was this the biggest robbery in the history of mankind, as some commentators have suggested?
Was it economic geo-strategic warfare, as others have suggested, re-organising the planet?
Was it just greed-gone-wild?
Or a combination of the three, in which some groupings that control “the markets” were combining with ideological factions to make sure that everyone still remembers “who is in charge”, and that with the raked in billions of dollars strategic economies and assets could be snapped up at bargain prices?

Whatever it may have been, and whatever still will come, it has done, and still will do, untold damage to the Rest of the World.

But the good thing is that we are in new times, in which hidden things seem to drift to the surface and become more open and recognised and hidden intentions can be seen more clearly.

The effects of the recent developments, next to economic hardship for billions of people, will also be the counter-balancing of what has caused the current situation, especially in cleaning up the financial sector, and reigning in its might.
It has also done much damage to the USA and to its position in the world, as most see the cause of the evil squarely deeply rooted there.

Could it be that the Project for a New American Century, of which we invite you to read the founding members-list, has gone a bit awry and has caused a Proposition for a Neocon American Catastrophy?

We may know in due time.

Alexander

Responses are welcome at Alexander@gas-oil-power.com

Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

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