oil crisis

New Zealand's oil security. How dependent are we on oil imports?

re-posted from my blog oilshockhorrorprobe

New Zealand imports 97% of its oil. Oil is the lifeblood of our economy. So a vital question must be -- how vulnerable is New Zealand to oil supply shocks? -- Whether from short term disruption, or due to an on-going and perhaps permanent decline in world oil exports? » Read more

IMF Warns of Oil Scarcity and the End of Growth

Re-posted from my blog - oilshockhorrorprobe

What is going on? The International Monetary Fund -- a body that states its mission is to "foster global growth and economic stability" has produced a major report which concludes the world has entered an era of oil scarcity, and openly discusses a peak oil scenario in which global GDP doesn't grow, but declines steeply ! » Read more

Government's Energy Strategy - Grade F for Fail

The government has mistakenly released its Draft Energy Strategy, which is still to be signed off by Cabinet. Despite hundreds of public submissions it remains almost word for word identical with the version published in July 2010. » Read more

Oil Price Response Plan For New Zealand Ignored

Prime Minister John Key's only response to rapidly rising oil prices has been to say "the government is powerless - there is nothing we can do". Not so. » Read more

Do Saudis have spare capacity? And why your standard of living hinges on it.

The conventional response to a supply disruption like from Libya is -- no worries, the Saudis have heaps of oil and can immediately pump more to take up the slack. But do they? And what happens to oil prices if they can't?

Many astute oil experts have grave doubts about the Saudis much vaunted spare capacity. This is vital because Saudi Arabia is the world's largest producer, and up till now has been able to influence the world price by opening the oil taps. » Read more

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