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Sunday, July 24, 2005

Fuel Riots - coming soon to a town near you

Yemen has been the latest country to have to endure fuel riots. Also living through the sharp edge of the onset of peak oil are Nicaragua and Indonesia. If we combine that with the unrest in Bolivia over the sale of natural gas assets, throw in The Nigerian delta for good measure, and of course Iraq, we are up to 6 hotspots in the fire-front of oil depletion.

Out of interest, while finding the hyperlinks above I typed 'fuel riots' into Google. Many of the stories were about Yemen, but there were also stories about Iraq, Nigeria and others from the last 7 years. when do we expect to see Los Angeles, or London.

We have just had another rise in the price of fuel here in New Zealand. We are now combatting a falling exchange rate, which will mean that contracts that have been hedged will become much more expensive when renewed.

We are also dangerously close to power blackouts, as it seems are California, and England.

Also of note has been the story of bomb labs being uncovered in Saudi Arabia.

I get the feeling that peak oilers are sensing some kind of tipping point. I know that many of us in this community constantly feel like there is a tipping point just around the corner (and I readily admit that wide scale disruption in SauSaudi Arabia is my favourite hypothesis) but it also seems like the weight of evidence is slowly shifting.

What does everyone think?

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