This does not compute

re-posted from my blog - oilshockhorrorprobe

The International Energy Agency has again warned that the high oil price could strangle hopes for a global economic recovery. It also says that 90% of future growth in oil production has to come from the Mid-East, mostly from Saudi Arabia. Without a $100 billion annual investment in that region, oil prices will exceed $150 a barrel. But Saudi Arabia has just announced it is halting its $100 billion oil expansion program? This does not compute. » Read more

High oil prices cause "large" effect on inflation - NZ Report

re-posted from my blog - oilshockhorrorprobe

A 2005 study by New Zealand Reserve Bank economist Felix Delbruck ("Oil prices and the New Zealand economy" - Reserve Bank of New Zealand: Bulletin, Vol. 68, No. 4) has found that the inflationary effects of higher oil prices were "quite large". Specifically that :- » Read more

2007-08 oil shock caused "substantial" decline in New Zealand's GDP say Reserve Bank economists

re-posted from my blog - oilshockhorrorprobe

In a recent report, two New Zealand Reserve Bank economists have estimated the real effects of oil price shocks on New Zealand’s GDP. The economists conclude -- » Read more

NZ Budget 2011 Ignores Oil Shock Impacts

re-posted from my blog - oilshockhorrorprobe

The Times [article behind a paywall] has just broken a story that the UK government has been undertaking research on the likely adverse effects on their economy of an oil price spike. The Times reports that » Read more

everth's picture

Beyond growth or beyond capitalism?

I found this interesting paper by Richard Smith.

Beyond growth or beyond capitalism?
Richard Smith » Read more

Anneleise Hall's picture

Growth is not possible

It was interesting to read today this article published by BBC News today.

A group of researchers in the UK have challenged the "growth is good" model, warning that business as usual will likely lead to catastrophic and irreversible environmental consequences.

The New Economics Foundation (Nef) said "unprecedented and probably impossible" carbon reductions would be needed to hold temperature rises below 2C (3.6F).  » Read more

everth's picture

Transition Towns Reloaded - a reminder of the importance of our work a year after it all began

Green Blog: “Transition Towns” Reloaded

An article written for the Coromandel Town Chronicle. September 09

A year ago, amidst the phenomenal rise of oil and gas prices, the “Transition Town” concept was introduced to Coromandel by the national co-ordinator of the movement, James Samuel from Waiheke, to a packed Hauraki House Theatre. With Oil then trading at just about US$150 per barrel and fuel prices breaching the pain level, the spectre of the world’s coming predicaments had left the realm of “maybe” and had become palpable to everyone. The world economy, until then still growing at exponential levels but fiscally leveraged to braking point, was soon after running head-long into a wall. Trillions in paper assets, mortgages, retirement funds and real estate values evaporated in giant fireworks throughout the world when it became clear that the future could be leveraged no further like a bottomless ATM machine to fund the largesse of the present. Many New Zealanders too lost some of their retirement savings when NZ’s most leveraged of the so called “Finance Companies” collapsed. » Read more

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