The Coming Oil Bubble

The following interview was published by Venster, a Shell Oil Co. Dutch-language magazine produced for circulation internally with in the company. The interview is with Shell Oil Company's CEO, Jeroen van der Veer, and was translated into English by Rembrandt Koppelaar, president of ASPO-NL and contributing Editor to the Oil Drum: Europe. I acquired the interview from a Blog post to the European Tribune that had added commentary by Jerome a Paris. For this Blog I am not using Paris' commentary but have removed his and added my own. I have rewritten some of the translation to correct some of the improperly written English. I made sure that none of my changes had any affect on the meaning of the translation.

The purpose of this post is to point out a very disturbing trend in oil pricing. There has been much speculation in the media and in the blog sphere that the price of oil today reflects a shortening of supply directly attributed to peak-oil having been reached. The interview with Jeroen van der Veer indicates something radically different is going on. My speculation is that he is right and that the consequences could be dire if unheeded.

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Laissez Faire

Monopolies
The belief that uniform benefit could be had by pure unregulated capitalistic economies died more than a century ago when people realized that pure market economies failed to produce a benefit to society as a whole. This wasn't a change in thinking from capitalism to socialism as it is often debated now days, but rather a realization that unbridled capitalism exacerbated the conditions that brought about Communism. The great majority of the nation, liberal and conservative, businessman and laborer, came to the same conclusion, that to be in a truly fully capitalist society government played an important role. That role was and is primarily to keep the playing field fair and even so that basic economic principles that benefit mankind can take hold. What had occurred during this time period was that forces gaming the system, chiefly monopolists, took over the open capitalist markets and closed them to the detriment of a great majority of the citizenry.

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The Best Way to Cheat - Continued

On August 13, I posted the "The Best Way to Cheat"
[http://www.mydd.com/hotlist/add/2007/8/1 3/133817/215/section//_all_].  Within days, I found two items that seem to me to further support my points.

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Please Help My Eco-Friendly Business

I do not like to beg, and I know not everyone on here considers me a friend.  But I will beg because I know not what else to do.  This is damaging to my pride but I need help.  My wife and I run a company called Weather Warners. http://weatherwarners.com/ We send Tornado Alerts to your phone and publish a global warming e-zine.  In fact, I started this business because we care about people.

Well the banks don't.  Our credit is still good, but the Small Business Administration considers our business "speculative".  In other words, no loan.  Actually, one banker said I was crazy to think he would invest in "liberal propaganda".  Bank of America and the like control this country.  They pick and choose who succeeds, not you.  Unless you help.

I have posted a link to a Paypal terminal where you can donate to help us fund our business.  Here it is: http://www.paypal.com/cgi-bin/webscr?cmd =_flow&SESSION=cbCyVLyjED12m7jGvnvbS Br373AScB6IwVUNP7GjFOVBGZJQvI5oyX1QgOnfj fZ8hPUesW&dispatch=5885d80a13c0db1f9 41d8253416939c6057d1d6643efcf2af0c35fa53 e9f308f Click "Send Money" and type in val1276@yahoo.com in the send money field along with your e-mail address in the "from" section.  I want to let you know that everyone who donates will get the service and magazine for free, regardless of the amount you donate.  I know I should not beg but I don't know what to do.  You can go to our site and see that our business is legitimate and worthy.  I am trying very hard to save our business but hopes are fading.

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Road to One America: the Youngstown Business Incubator and Hill House in Pittsburgh

This is my third and final diary about the stops on John Edwards's Road to One America Tour that I visited on July 17, 2007. Previously, I've written about the Mount Pleasant neighborhood in Cleveland, Ohio, where residents are plagued by predatory lenders and home foreclosures, and also Beatitude House in Youngstown, Ohio, a transitional shelter for homeless women working to get back on their feet. Today's diary focuses on the last two stops on the tour that day: the Youngstown Business Incubator in Youngstown, Ohio and Hill House in Pittsburgh, Pennsylvania.

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Diaries

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