Re: SC45

http://energybulletin.net/31831.html

Peak Oil Review - July 9, 2007

................. A world energy crisis

In recent weeks, there have been an increasing number of reports concerning serious electricity and gasoline shortages in no less than 24 countries around the world. In many cases, the leaders of these countries have announced that the situation is critical while at the same time offering assurances that they have plans to improve the situation shortly.

In about half the countries, the problem is simply not enough electricity capacity to meet growing demand sparked in part by rising world temperatures. In many cases, urban population is increasing so fast that investment in new infrastructure is not keeping up. In those countries which depend on hydro dams for a significant portion of their electricity, droughts have lowered water levels to the point where generators are being shut down. Countries that use oil for thermal or diesel power generation are finding their customers simply can’t afford electricity from $70 oil. Finally, in a few places such as Iraq and Nigeria, insurgents keep blowing up fuel lines to the generating stations. Rolling blackouts ranging from a few hours to most of the day are becoming far more common around the world than most of us realize.

Incidences of oil and gasoline shortages are becoming more common too. Nepal is completely out of retail gasoline and diesel as they can’t afford to pay India for their imports. A few weeks ago, Gambia nearly shut off all electricity production as the country could no longer afford the fuel. This list of woes goes on and on.

For most, there is little prospect that the situation will improve in the foreseeable future. Blackouts will grow longer and more widespread. Gasoline shortages will increase and supplies increasingly will be sold at black market prices............

Quote of the Week
“If you want to buy petrol illegally from the black market you have to pay seven times the price. “ — Iranian motorist........