This Juan Cole piece is a confused mush. Gene
On Nov 29, 2014, at 6:28 AM, Louis Proyect <[email protected]> wrote: > So how does this all relate to peak oil? It seems to me that if shale > oil can't turn a profit, it will increase the demand on conventionally > drilled oil and hence accelerate its exhaustion. I think the idea that > oil is about to disappear any time soon is simplistic but the tendency > for desperate violence over control of diminishing resources does > confirm in its way the peak oil hypothesis. In any event, I think that > "peak oil" is a much more serious problem. On Thanksgiving day, we had a > friend of my wife from Istanbul and her husband over for dinner (we ate > hindi, as the Turks call the bird.) Her dissertation was on competition > for water in the Middle East, the Euphrates specifically. Her comment: > declining water supplies in the region have more to do with the wars > than Shi'a/Sunni conflicts. > > ---- > > > It is clear that among the major losers in the fall in the price of > Brent crude petroleum from $115 a barrel last summer to about $75 a > barrel today are Russia, Iraq and Iran. Petroleum sales are 50% of > Russia’s income, and are also central for Iran and Iraq. > But the big loser will likely be shale oil producers and prospectors in > the US, who probably cannot make a profit if the price falls into the 60s. > > http://www.juancole.com/2014/11/targets-shale-russia.html > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
