[Peakoil] News items from Canberra Times Fri, 28 Jul 2006

[Antony Barry]

"Australian minister holds out hope for resurrecting world trade  
talks" p.2

Comment: The Doha trade talks have been suspended as Europe and the  
US won't drop their agricultural subsidies. What has this got to do  
with peak oil? The EU and US agricultural sectors are based on oil  
supported industrial agriculture. I've see figures that suggest the  
amount of energy produced in the food is only one fifth of the energy  
going input from oil.

Industrial agriculture is a process of converting oil to fuel very  
inefficiently. It will collapse when the oil goes. The world's  
trading system, globalisation, is based on transport being cheap. If  
cheap fuel goes so will much of world trade.
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"PM asks Reserve to avoid rate rise" by Shane Wright and Maria  
Hawthorne. p3

Reports Costello saying that high oil prices would only be a factor  
if they had a flow on to the costs of other products"

http://www.abc.net.au/7.30/content/2006/s1699014.htm

Comment: One wonders how he could think they won't! On oil prices "we  
ain't seen nothing yet" as peak oil kicks in.
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"Doha collapse big blow to Australia" Editorial p.12

Comment: similar to the above.
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"Another motor sport white elephant the pits for Canberra" Letter  
from Terry George" p.12

The V8 race was a financial disaster the dragway will be.

Comment: And with peak oil coming it's fiddling while Rome burns.

Tony

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