The net result: not only a slap for the US Dollar, but implicitly for all fiat intermediaries, as Iran and China are about to prove that when it comes to exchanging hard resources for critical Chinese goods and services, the world’s so called reserve currency is completely irrelevant. The implications of this are momentous, especially for US debt, whose indomitability is only predicated upon the continued acceptance of the currency it backs as a global reserve.

Öljyhiekkakampanja mediassa

Sokerina pohjalla, kaikkien aikojen graafi a la westexas. Termi “ANE” (Available Net Exports) kuvaa siis “markkinoilla muille kuin Kiinalle ja Intialle ostettavissa olevaa öljyä” (GNE on Global Net Exports, eli vientiöljy kaiken kaikkiaan, eli ANE on GNE miinus Kiinan ja Intian ostama öljy). ANE on selkeä “Hubbert’s peak”, jolle öljyn hinnan heilahtelu ei ole tehnyt mitään. Kiinan, Intian ja öljyntuottajamaiden kulutuksen kasvu on kääntänyt OECD-maille mynnissä olevan öljyn määrän jo melko jyrkkään laskuun, vaikka geologinen öljyhuippu on vielä loiva. Alkaa olla jo korkea aika miettiä uudestaan asiat kuten talouskasvu, velka, työllisyys ja niin edelleen. OECD-mailla ei ole mahdollisuutta merkittävään talouskasvuun, halusivat sitä tai eivät. Tilanne on ollut päällä jo vuosikausia.

Indeed, the fight over the tar sands pipelines has become a proxy battle between two diametrically opposed worldviews: Those who see the planet as heading toward irreversible environmental harm, driven largely by human CO2 emission from fossil fuels, and those who say that the U.S. needs oil at almost any environmental cost to keep its economy growing. The chief lobbyist for the pipeline company, Paul Elliot, was a deputy campaign manager for Secretary of State Hillary Clinton’s presidential run, and last year Clinton said she was “inclined” to approve the pipeline, long before the environmental studies were completed.

Uusiutuvat eivät siis korvaa fossiilista vaan vain kasvattavat kakkua. “The growth in fossil fuels was so strong that although non-fossil-fuel energy also had a record year, its share of the world total primary energy decreased a little.”

The Saudi regime is under siege. To the west, its heaviest regional ally, the Egyptian dictator Hosni Mubarak, has been ousted. To its north, Syria and Jordan are gripped by a wave of protests which shows no sign of receding. On its southern border, unrest in Yemen and Oman rages on. And troops have been dispatched to Bahrain to salvage its influence over the tiny kingdom exerted through the Khalifa clan, and prevent the contagion from spreading to Saudi Arabia’s turbulent eastern provinces, the repository of both its biggest oil reserves and largest Shia population.