Recent world developments are supporting the findings and projections  discussed in Peak energy, Climate Change, and the Collapse of Global Civilization - i.e., soaring oil and food prices, economic collapse, and social upheaval in the Middle East and the rest of the world.

Signs for global economic collapse are very clear...

The following is a select, but not complete, list of  news articles published this January 2011:


Oil and Energy


Peak Oil is Past Tense: Exxon, Shell, and Aramco Admit the Peak is Real


IEA: Oil Output Needs to Increase


Commodities daily: Say hello to $100 crude



Oil May Reach $117 by Year-End, Auerbach Grayson Says: Technical Analysis


Growth hopes push oil within reach of $100


How sustainable is growth with triple-digit oil?



EIA: Global oil markets to tighten in next 2 years


Goldman Sees Oil ‘Bull Market’ on OPEC Capacity Drop


The EIA warns that average gasoline prices could soar over $4 next summer


Saudi: 2011 oil demand to grow 1.8M barrels a day


Today's Trends: China Oil Demand Hits Record, to Keep Climbing in 2011


China Turns Net Diesel Importer on Domestic Shortage


China’s energy use could fox the bears


British lawmakers propose energy rationing


World will be forced to depend on OPEC oil, believes BP

But OPEC doesn't have enough oil to share... ~TM


Opec's grip on oil market to return to 1970s levels


Container Ship Rates Rally as Fuel Prices Rise: Freight Markets


China May Face Diesel Shortage This Year, CNPC Says


Korea scrambles to cut electricity use


Vietnam to face power shortfalls in dry season, EVN says


Chile evacuates tourists stranded by violent protests (over rising energy prices)


Europe Gasoline-Rallies further to 28-mth highs


Petrol prices to hit £6 a gallon


Eurozone inflation pushed up by soaring energy prices




Food Security


Era of low-cost food is over, study warns


Global Price Fears Mount


World moves closer to food price shock


Global food system must be transformed 'on industrial revolution scale'


Goverments stockpile food staples


Bet the farm: Cropland prices soar 20%


The world is only one poor harvest away from chaos


Sarkozy urges financial reform to avoid unrest


Buy Food, China Is Hungry: Analysts


Asia expects hard fight against rising food, fuel prices


Food prices to rise sharply as more struggle to put meals on their tables (Africa)


African Food Riots Spread To Persian Gulf As Oman Is Next; Adverse Implications For Oil Prices?


Record Food Prices Causing Africa Riots Stoking U.S.


India may opt for ban on wheat product exports


Hundreds protest over high prices in south Jordan


Sri Lanka fears food crisis after flooding


McDonald's likely to raise prices in 2011




United States


U.S. Treasury Secretary Admits U.S. Default Is Imminent


Secretary Geithner Sends Debt Limit Letter to Congress


Plans being drawn up to let states declare bankruptcy


State bankruptcy bill imminent, Gingrich says


California governor declares fiscal emergency


Vallejo Bankruptcy Plan Offers Unsecured Creditors 5-20%; JPMorgan CEO Forecasts More Municipal Bankruptcies; Bernanke Will Not Rescue Cities




Europe


Sarkozy urges financial reform to avoid unrest


Spain to rescue its banks


Eurozone inflation pushed up by soaring energy prices




China


China Turns Net Diesel Importer on Domestic Shortage




Middle East


Arab leaders warned of 'revolution'

Arab League chief warns regional leaders that recent political upheaval is linked to deteriorating economic conditions.


Latest Inflation Riot Tally: Algeria, Tunisia, Morocco, Yemen And Jordan


Tunisian President Dissolves Government


Reports: Tunisian President Ben Ali has fled the country


Protests in Egypt and unrest in Middle East


Cairo protesters in violent clashes with police


Egypt: President's son and family 'have fled to the UK'


Hundreds protest over high prices in south Jordan


Arab rulers use handouts to ward off unrest


Arab world needs 40m new jobs in next 20 years

 


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    Oil Prices


    In mid-2004, oil prices increased from the range of $20 - $40 per barrel to $60 - $80+ per barrel. The current global economic crisis was triggered in part by the oil price shock starting in 2007 and culminating in the summer of 2008. When prices increased from around $80 per barrel to $141 per barrel by the summer of 2008. The global economy crashed within months in the autumn of 2008. This economic crisis will likely accelerate and become more volatile once oil prices exceed around $85 per barrel for an extended time. Demand destruction for oil may be somewhere above $80 per barrel and below $141 per barrel. Economic recovery (i.e., business as usual) will likely exacerbate the global recession by driving up oil prices.

    Author

    Tariel Mórrígan earned his B.A. in Physics from the University of California at Santa Barbara. He received his Master in Environmental Science and Management (MESM) from the Donald Bren School of Environmental Science and Management at UC Santa Barbara, where he specialized in climate change, conservation, and political economics. Mórrígan is currently the principal research associate of Global Climate Change, Human Security & Democracy (GCCHSD) and a member of its Global Academic Board. His most recent publication is Peak Energy, Climate Change, and the Collapse of Global Civilization: The Current Peak Oil Crisis.

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