Ippoippo

… top man. I like what he has to say in this video (regarding a different Palin)

Made me laugh anyway, despite the doom and gloom.

I’m a bit sick of that whole holding-his-head-in-despair schtick, to be honest. It’s about time they tried something more spectacular. Surely it’s time for a revival of that great cliche of the 1930s, the ruined City whizzkid hurling himself out of the window? The credit crunch high dive. Extra points if you manage to pull a backflip on the way down, or crack your jaw on a window cleaner’s cradle somewhere around floor 35. The ultimate high score goes to the first one who manages to successfully update his Facebook status using an iPhone seconds before slamming into the pavement. “Danny is plummeting to his doom.” Click here to tag him in a photo.

Was it wrong of me to find that funny

Now, the thing I find interesting in all this is… just how much was/is Peak Oil to blame?
Well, we can’t be sure we are at Peak Oil yet… but either way, was the record high prices of oil (when it was in the $140’s and $120’s a few months ago) the trigger to start the whole house of cards to collapse? Or did the very nature of the modern money system by itself the only cause.
Who knows.

What will be interesting to see though is if the oil price follows the predicitions of Colin Campbell when he made them back in 1994. Basically, a Saw Shape…. currently it’s going down due to the economy tanking. Now, as soon as the economy hits the next bottom, and maybe picks up again (a bit), that will push demand again. That will be the real test. Will oil cost go up a little due to the demand increase, or will it go up by loads because supply will not meet demand. If that were to occur, then I think we could safely say Peak Oil had arrived and gone by.

10 Types of Republicans…

Have to admit, the choice of Palin as Vice-Presidential candidate seems somewhat mad… but if it means McCain not becoming president, then it get’s a thumbs up from me.

There was a report in the FT today, with more ‘bad news’ being slowly leaked out by the IEA.

“Structural demand growth in developing countries and ongoing supply constraints continue to paint a tight market picture over the medium-term,” the IEA said in its Medium-Term Oil Market Report, released on Tuesday in Madrid.

“Poor supply-side performance since 2004, in the face of strong demand pressures from developing countries, has forced oil prices up sharply to curb demand,” the watchdog added.

Crude oil prices surged on Wednesday more than $2.50 to $142.73 a barrel, but still below Monday’s record high of $143.67 a barrel. The report also said that current oil prices were “justified by fundamentals.”

You can also read what The Energy Bulletin say about that report in the FT.