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Wolf !

Yes it really is a wolf. It is relatively difficult to find a toy wolf.

It does, however, illustrate the key conclusion of the story about the boy that called 'wolf'. At the end there was a wolf.

It has been clear for some time that the supply of fossil fuels will peak. The real question is why the UK government does not provide its calculations. The UK relies on the IEA which relies on the USGS. The USGS has produced figures which are produced with all the possible optimistic methodologies. The USGS estimates 1,000 bn barrells of oil greater than most other people.

Still it is quite a nice wolf.

We also have the issue of the government changing their real strategy to one which is based upon the UK national debt being relatively low so we might as well pile on the pounds.


shaz said…
I wonder if the disaster in New Orleans is likely to further affect Oil prices? It has already created some volatility
john said…
It is a question as to when the Mexican Gulf comes back onstream.
shaz said…
Foreign oil reserves are being made available to ease some of the pressure, but that can raise prices elsewhere.

I think most people are begining to realise the implications of oil production and possible conflicts around the world to secure a slice.

Saudi Arabia, being a source of cheap oil for the US for many decades is now under real strain, politically and economically and seems frighteningly vulnerable to attack. This will only exasperate the situation which will ripple out of control. The wider problem is not whether we will be able to afford to fill-up our cars, but we'll be able sustain our lifestyles.

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