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George Kerevan - Don't blame speculators for high oil prices – to be crude, we're running out



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BETWEEN the lines
WHILE media interest has focused on the banking sector this week, the world's petroleum markets have gone into orbit. Yesterday the price of US crude surged past $118 a barrel for the first time. The global economy is now being squeezed remorselessly...



The full article contains 1099 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 23 April 2008 10:26 AM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: George Kerevan
 
1

The Strategist,

23/04/2008 08:22:53
All of which makes you wonder why the Govt would prefer to give £50bn to the banks and next to nothing for the development of alternative energy technologies.
2

glassbenmhor,

23/04/2008 09:37:01
Is that the smell of OIL,

or just,

the McCronish smell of the Scotsman????
3

glassbenmhor,

23/04/2008 09:39:29
I fear that a Scotsman journalist has neither a grasp of the Geological or the Geographical.

And for that matter,

neither the Political
4

Isonomia,

Lenzie 23/04/2008 09:52:24
Strategist is being very economical with the truth. The government are giving the wind industry some £10,000,000 of our money just to keep their bird killing manglers going, a figure that will increase year on year.

The government have loaned the banks £50,000,000 and expect to get it back with interest.

5

Isonomia,

Lenzie 23/04/2008 09:53:00
sorry I meant: £10,000,000,000 and £50,000,000,000
6

The Strategist,

23/04/2008 10:15:50
#4

There isn't a Scottish or UK wind industry. We don't make any of these things.

What you're referring to is the ROC system which I agree is essentially a form of subsidy to windfarm operators but it's paid by the consumer not the Govt.
7

Venachar,

23/04/2008 11:48:18
Makes Margaret Thatcher's decision to disband the British National Oil Corporation even more dreadfull.
Repeated Governments could have controlled oil extraction and sales and more importantly have built up a sovereign wealth fund to power development of other resources such as tidal and wind. What have we done given control away to the multinationals, used taxation to fund wars that have got nothing to do with us and pay for overpriced schools and hospitals under PFI.
I look forward to the May elections down in England where the Chief Stealth Taxer's party are going to get stuffed. Maybe he will get the picture then. He may be a son of the manse but all Brown is doing is taxing (robbing) hard working people. He has stolen out of the private pension funds and now with the change in the tax bands the tax relief goes down so you have to put more in for the same result.
8

Guthrie,

Edinburgh 23/04/2008 14:00:12
Kerevan is actually making some sense for once- the era of cheap oil is over, and yes, it looks like production is effectively peaking. I expect it to plateau for a decade or two though, with some ups and donws- we won't suddenly run out of oil.

 

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