[Peakoil] $70 a barrel

[Keith Thomas]

Interestingly, this is the highest Brent Crude has been.

You can track Brent Crude and West Texas Intermediate Crude on this BBC  
site:

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/ 
commodities/28696/twelve_month.stm

Note that you can call up graphs for the past month, three months and  
12 months.

If you think that's scary, look at where copper has gone over the past  
12 months:

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/ 
commodities/11701/twelve_month.stm

Think how important copper is in alternative energy generation,  
transmission and use. We so depend upon cheap oil to extract copper. In  
the ancient Bronze Age, copper ore was mined with 3% concentrations.  
Now it's down to one hundredth that - so we can't go back to the Bronze  
Age!

Then look at zinc:

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/ 
commodities/11648/twelve_month.stm

Same thing. Tin, gold, aluminium, too

For the best summary of the causes of these parallel rises and a look  
into possible futures, see William Catton's book "Overshoot".
--------------------------------------------
Keith Thomas
www.evfit.com
--------------------------------------------
On 17/04/2006, at 2:54 PM, Jenny Goldie wrote:

> Oil price hits $US70 a barrel
>  
> April 17, 2006 - 1:34PM
>  
> Oil prices hit $US70 a barrel in Asian trade today on concerns over  
> tight US gasoline stocks and continued fears the United States could  
> launch military strikes against Iran's nuclear facilities, dealers  
> said.
>
> At 10.35am (1235 AEST), New York's main contract light, light sweet  
> crude for May delivery, was up 66 cents at $US69.98 a barrel from its  
> close of $US69.32 in the United States Thursday.
>
> The contract earlier hit an intraday high of $US70 before easing  
> slightly.
>
> AFP
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