Today was the last day to wake to classical music on the Bose radio. WOSU FM will be broadcasting NPR news programs from 5AM to 9AM and from 4PM to 7PM. I will try to be thankful for the classical music the rest of time. Just another cost cutting move, I fear. American Express told investment analysts today that their profits will be lower in all of 2008 because their customers can't pay their credit card bills. Methinks the fit must be hitting the shan if the high end folks can't pay their bills. My goal is to start paying cash for everything this year. Odds are the credit card companies will start charging customers who pay their bills on time, thus robbing the company of any interest payments. And finally, I just read an oil production analysis that identifies 2005 as the peak year for crude oil production. If true (and I believe it is) , $150 a barrel oil is right around the corner. It took three years to identify the US production peak in 1971.
And to round out this light-hearted post, two more dead coyotes were left that the Wilson Road parking lot for the Roberts Pass bike trail.
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2 comments:
What is the source of your peak oil contention? I'd like to check it out.
m.
This source was an investment letter that didn't give a citation. However in most of 2007 the world was using roughly a million barrels a day more than it was producing. The real problem is what does use mean? The US is filling it's strategic reserve as fast as it can and that counts as use. The reason it takes years to define the peak is that numbers bounce around instead of being smooth. We won't really know for another year. I think it has because ALL the major fields are in decline, especially Gawar in Saudi Arabia, which is the mother of all oil fields. And more will be revealed later as Uncle Terry would say.
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