Tuesday October 11, 2005

Jim Kunstler : "An eerie hiatus"

kunstler.com :

For the moment, it's back to business-as-usual for Easy-motoring Nation. Yet 73% of oil from the Gulf of Mexico remains "shut in" or unavailable because of hurricane damage, and about 63% of natural gas production.

For the past month, the European Union has been sending two million barrels of crude a day to the US out of its own emergency reserves. The Federal government has loaned the oil companies crude from the Strategic Petroleum Reserve. These actions have beaten down the price of crude oil on the various futures markets.

[But] the commutes haven't magically gotten any shorter over the past month. The national fleet of SUVs has not been changed out either. What's happening, therefore is that we have entered an eerie hiatus. The truth is that our energy supplies are badly compromised and at the worst time of the year. So all we have here in America is a temporary appearance of normality ...

- Jim Kunstler calls it as it is, and explains it well. We're watching to see what happens next. Winter is coming.

See also :

1. Natural gas : "a national emergency"
2. Hurricane Rita causes record oil rig damage

(2005-10-11 18:00:36 SGT) [Energy] Permalink

Malaysia Airlines hikes fuel surcharge (again)

channelnewsasia.com :

Malaysia Airlines, which has been hard-hit by record oil prices, having one of its worst ever quarterly losses at 280.66 million ringgit (USD $74.4 million) in the 2nd quarter, said that it will raise its fuel surcharge by up to 12.3 percent, in its second hike in less than a month.

The national carrier said it will raise its fuel surcharge to 137 ringgit (USD $36) or 12.3 percent, from 122 ringgit for travel outside Asia. The fuel surcharge for travel between Malaysia and Asia would be increased to 68 ringgit, or 11.5 percent, from 61 ringgit.

See also :

1. SIA, BA raise fuel surcharge

(2005-10-11 13:31:40 SGT) [Energy] Permalink

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