Hubbert's Peak Revisited  

Posted by Big Gav

321 Energy has an editorial called Hubbert's Peak Revisited that examines the entrails of the energy market looking for signs of Hubbert's Peak (via How To Save The World).

Few have taken “Hubbert’s Peak” seriously even though it has dire and far-reaching implications, both economic and geopolitical. But with the price of oil continually hitting new highs, surpassing $44 per barrel in the last week, it is rapidly becoming apparent that an energy crisis may be in the making. This is also evident in the escalating prices of other energy commodities. Though the price of oil is up 36% so far this year (and making all the news), the price of coal is up 55% and uranium 28% (64% in the last 12 months). In fact, since global monetary easing began, the price of coal has doubled and the price of uranium has soared by 150%. Energy is on fire – and is one of the few sectors that we are adamant about investing in at this time, especially given the recent and troubling broader stock market weakness.

Elsewhere, following BHP's (presumably successful) acquisition of WMC, the Herald asks "How safe is nuclear? BHP needs to decide". The question here is are they willing to admit that they bought WMC for its uranium reserves, and how they sell nuclear fuel as "solution" to global warming while still protecting their coal business.

Meanwhile ex-BHP CEO Paul Anderson has suggested that the GST be scrapped and replaced with a carbon tax - sounds good to me.

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