Price of fuel in Australia is escalating. The poor truckies are feeling it for diesel prices. Many are out of work because they can't afford to fill up.
There are over 5 million wild donkeys living in Australia. Time to round them up. http://en.wikipedia.org/wiki/Feral_Donkeys_in_Australia
The oil price is crazy....we are getting hit with a petrol price increase tonight we are paying over R10 a litre now!!!!
Funny thing is that even though the oil price is still rising, in my country they lowered the prices a little bit the last two weeks. Hope they'll drop even further
In my country, Oil Production and Distribution companies have been nationalized, and they are on the brink of bankruptcy. They have a loss-sharing agreement with the government, where the government subsidies fuel, massive subsidies I'd say, and the poor oil companies have to bear the losses. These companies don't haVe enough cash in hand to last a month. ANd we all know buying Oil is cash intensive. I hope all this mess if figured out soon, else of Oil distribution companies start going belly up, then its gonna be "CHAOS"
My datacenter prices nearly doubled as a result of electricity surcharge, a new item they introduced recently. Everything seemed a nightmare, money is not what it used to be. It buys less and less things.
Thats bad news Inflation is hitting us all. There is extreme Energy Deficiency. Will the days of Cheap Energy come back soon? Coz if the problems are not solved soon, we may lose our way of life.
Supplies are tight except for 1 million barrel per day field that will come on line next year in Saudi Arabia. Price could hit $170 by later next year.
Brazil's state oil company said (November 2007) that it has discovered between 5bn and 8bn barrels of recoverable light crude in an ultra-deep field off the coast of Rio de Janeiro, an amount that could help transform the country into a major world oil exporter. Then there's another smaller 700 million barrel oil field in Brazil that was found in 2005. It will be online by 2011. According to Wkikpedia, Ghawar Oil Field in Saudi Arabia has about 71 Billion barrels of Crude Oil remaining in reserves. It produces around 5 million barrels daily, i.e. 1800 million barrels a year. That makes it (1800/71000) x 100 = 2.5% of total reserves. If we assume similar production cap on these new oil fields, then for 8 billion barrels of oil, the production could be 2.5% of 8 billion = 200 million barrels a year, i.e. 5,50,000 barrels of new oil everyday by 2013.
Yeah...that's another problem...customers turn to cheaper truckies..those truckies run until they run out of money...it's a wicked cycle.
Yeap, it is bad for customers and bad for the truckies. I expect the situation to get worse before it gets better
If Peak has really been reached, then even a small decline in production would quadruple the price of oil, coz everyone needs it for the smooth functioning of the country. Its now a gamble. IF we can shift to alternatives quickly enough, the world moves on. If not, then the problem could cripple the planet.