In regard to his last point: > > Over this brief period of time since the absolute > > peak, the losses of supply have been yielded in the world's poorest > > societies, who simply drop out of bidding for oil supplies. > >
Here: http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption ...is a chart of global per-capita consumption. #1 United States: 20,730,000 bbl/day [!!!] #2 China: 6,534,000 bbl/day #3 Japan: 5,578,000 bbl/day #4 Germany: 2,650,000 bbl/day #5 Russia: 2,500,000 bbl/day #6 India: 2,450,000 bbl/day #7 Canada: 2,294,000 bbl/day #8 Korea, South: 2,149,000 bbl/day #9 Brazil: 2,100,000 bbl/day #10 France: 1,970,000 bbl/day #11 Mexico: 1,970,000 bbl/day #12 Italy: 1,881,000 bbl/day #13 Saudi Arabia: 1,845,000 bbl/day #14 United Kingdom: 1,827,000 bbl/day #15 Spain: 1,573,000 bbl/day #16 Iran: 1,510,000 bbl/day #17 Indonesia: 1,168,000 bbl/day #18 Taiwan: 965,000 bbl/day #19 Netherlands: 946,700 bbl/day #20 Thailand: 900,000 bbl/day #21 Australia: 877,300 bbl/day #22 Singapore: 800,000 bbl/day #23 Turkey: 715,100 bbl/day #24 Belgium: 641,000 bbl/day #25 Egypt: 590,000 bbl/day #26 Venezuela: 560,000 bbl/day #27 Malaysia: 515,000 bbl/day #28 South Africa: 502,000 bbl/day #29 Argentina: 470,000 bbl/day #30 Poland: 445,700 bbl/day #31 Greece: 435,700 bbl/day #32 United Arab Emirates: 400,000 bbl/day #33 Iraq: 377,000 bbl/day #34 Sweden: 362,400 bbl/day #35 Philippines: 342,000 bbl/day #36 Kuwait: 335,000 bbl/day #37 Portugal: 332,000 bbl/day #38 Pakistan: 324,000 bbl/day #39 Nigeria: 290,000 bbl/day #40 Hong Kong: 285,000 bbl/day #41 Ukraine: 284,600 bbl/day #42 Austria: 282,000 bbl/day #43 Colombia: 269,000 bbl/day #44 Switzerland: 268,100 bbl/day #45 Israel: 249,500 bbl/day #46 Norway: 244,300 bbl/day #47 Chile: 238,000 bbl/day #48 Libya: 237,000 bbl/day #49 Puerto Rico: 234,000 bbl/day #50 Algeria: 233,000 bbl/day #51 Syria: 230,000 bbl/day #52 Vietnam: 230,000 bbl/day #53 Kazakhstan: 222,000 bbl/day #54 Finland: 220,400 bbl/day #55 Romania: 212,000 bbl/day #56 Cuba: 204,000 bbl/day #57 Czech Republic: 203,100 bbl/day #58 Ireland: 182,400 bbl/day #59 Denmark: 171,000 bbl/day #60 Morocco: 170,000 bbl/day #61 Belarus: 165,000 bbl/day #62 Peru: 156,000 bbl/day #63 New Zealand: 150,600 bbl/day #64 Uzbekistan: 148,000 bbl/day #65 Ecuador: 148,000 bbl/day #66 Hungary: 132,000 bbl/day #67 Bulgaria: 131,400 bbl/day #68 Dominican Republic: 127,000 bbl/day #69 Azerbaijan: 120,000 bbl/day #70 Virgin Islands: 115,000 bbl/day #71 Jordan: 107,000 bbl/day #72 Lebanon: 107,000 bbl/day #73 Turkmenistan: 95,000 bbl/day #74 Croatia: 93,000 bbl/day . . . I'll work on historical data tomorrow if I can find it. On 9/11/07, Michael Perelman <[EMAIL PROTECTED]> wrote: > This kind of material does not constitute a dialogue. I would like to know > more > about the subject. The information here is thin. > > > On Tue, Sep 11, 2007 at 01:06:38PM -0700, The Buffalo In Da' Midst wrote: > > "All this occurred against the background of what has come to be > > called Peak Oil, the turnaround point in global oil production, and > > indeed the all-time high-point of world oil consumption, ***which can > > be dated precisely now (in the rearview mirror) as having topped > > absolutely in July of 2006***... > > > > The Disinformation Society - James Kunstler > > Tuesday, 11 September 2007 > > > > One question that readers ask me often is why the mainstream media is > > doing such a poor job of reporting the nexus of the global energy > > emergency and the turmoil in global finance. I maintain my "allergy" > > to conspiracy theories. There isn't any clique of top-hatted Wall > > Street biggies with monocles joining with with gray-suited CIA-types > > to intimidate editors with tongs and electrodes. American culture has > > become self-dis-informing. > > > > As my friend Peter Golden (blogger at Boardside) puts it so well: > > > > "When people lie, they know they are doing something wrong. But when > > they just make things up, there's no consciousness of right or wrong > > at work. It seems morally okay to live in a fantasy world — and this > > is much more pernicious to the public discourse than lying." > > > > My friends, who are mostly ex-hippie, yuppie progressives, have been > > locked in prayer to exorcise the evil spirit of George W. Bush for six > > years, but they fail to recognize a more comprehensive failure of > > leadership in every sector of American life, and especially in the > > ones where a lot ex-hippies-now-yuppies run things. Our political > > leadership may be deplorable, but so is our leadership in business, > > education, the arts, and especially the media. > > > > The poster child for this is The New York Times. In their reporting on > > the world oil situation, they have consistently and uncritically > > swallowed the public relations handouts of Daniel Yergin's Cambridge > > Energy Research Group (CERA), a wholly-owned PR shop serving the oil > > industry. Laziness doesn't even explain this. It's bad editorial > > leadership. It's a failure to ask the important questions. > > > > On Friday, the oil futures markets closed a dollar-and-change away > > from the all-time record high price (the same day the Dow Jones > > Industrial Index fell 250 points.) Today's (Monday's) lead headline in > > the NY Times Business Section is "Disney to Test Character Toys for > > Lead Paint." Well, I hope we get that situation straightened out so > > that civilization can continue with a full supply of Disney action > > figures under the Christmas trees — and forget for a minute whether > > Grandma will be able to drive to the WalMart in December, or whether > > WalMart will be able to keep the diesel tanks filled for their > > "warehouse-on-wheels, or whether both Grandma and the Assistant > > Manager of her local WalMart are three months in arrears on their > > re-set mortgage payments, and maxed out on their Discover cards... > > > > To me, there seems to be an obvious correlation between the current > > failures in the financial markets — in particular the credit sector — > > and the gross failure of leadership across the board in American life. > > Ultimately, credit depends on legitimacy, and so does authority. They > > are tied together. For years, both have been immersed in fantasy > > rather than reality. > > > > How does one otherwise account for the remarkable disappearance of > > standards in lending among the human beings who lead banking > > institutions? All the banking executives didn't wake up one morning > > missing sixty IQ points. And yet neither can one say that they all > > woke up one morning with evil intentions to work wickedness in the > > world. They simply became subsumed in a fantasy that there was no > > material difference between borrowers with a proven ability to pay > > back loans and borrowers with no record of credit-worthiness. And they > > got rid of the problems that might have ensued by selling off > > wholesale bundles of good-and-bad loans to willing buyers (other > > banking executives) further down the line, who in turn sold > > certificates representing these bundles to willing executives in > > pension groups and money markets. It became normal. It was justified > > at the tip-top of American leadership by the Explainer-in-Chief saying > > that it was a good thing for as many Americans as possible to own > > their own house. > > > > Did the American media report on this chain of dangerous fantasy? Not > > in the least. They were simply mesmerized by the amazing, supernatural > > rise of nominal house prices, and the fantastic flow of paychecks from > > the production home-builder's payroll offices, and the fabulous > > cash-out re-fi's that sent streams of revenue to the Crate-and-Barrel > > furniture outlets, and the Williams-Sonoma catalog headquarters, and > > the plastic surgery parlors. > > > > All this occurred against the background of what has come to be called > > Peak Oil, the turnaround point in global oil production, and indeed > > the all-time high-point of world oil consumption, which can be dated > > precisely now (in the rearview mirror) as having topped absolutely in > > July of 2006 — the exact moment, incidentally, that a gigantic pin > > first pierced the outermost molecules of the soapy film that held the > > housing bubble together. > > > > Oil production (all liquids, including natural gas byproducts, tar > > sands, what-have-you) are down now by more than a million barrels a > > day. We've only experienced it so far in the juddering rise of oil > > futures prices. Over this brief period of time since the absolute > > peak, the losses of supply have been yielded in the world's poorest > > societies, who simply drop out of bidding for oil supplies. > > [...] > > > > In Full: http://www.atlanticfreepress.com/content/view/2373/81/ > > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail michael at ecst.csuchico.edu > michaelperelman.wordpress.com >
