Damage by natural disasters due to global warming a hidden cost of fossil fuel

Vital Signs OnliNE: Surging Oil Production, Storms
World oil use increased by 1.3 percent in 2005, a significant slowdown after a record-breaking rise of 3.4 percent in 2004. The International Energy Agency estimates that oil demand reached 3.8 billion tons in 2005, or 83.3 million barrels a day.

Meanwhile, the carbon dioxide released during the combustion of all this oil is contributing to climate change, which many scientists worry is producing more extreme weather events. Economic damages from weather-related disasters hit an unprecedented $204 billion in 2005, nearly doubling the previous record of $112 billion set in 1998 and reflecting the high number of disasters affecting built-up areas. Three of the 10 strongest hurricanes ever recorded occurred in 2005. Worldwatch InstituTE: August 31, 2006

Purchase Vital Signs 2006-2007 in Hard Copy or PDF format, and visit Vital Signs Online for a wide selection of trends data and analysis, including theSE:
"Fossil Fuel Use Continues to Grow"
"Weather-related Disasters Affect Millions"

Chinese/Indian demand to tax crude oil production

DailyWealth Friday, July 07, 2006
ANOTHER HIGH IN A LONG BULL MARKET
Last week, we asked DailyWealth subscribers for their opinion on the future of crude oil prices. The majority responded in agreement with legendary investment analyst Marc Faber.

Here's what Marc recently said about oIL:

"China's yearly per-capita consumption of oil is 1.7 barrels. U.S. per capita consumption is 27 barrels. Korea's and Japan's are 17 barrels. The U.S. has 740 vehicles per 1,000 people. In China there are three, and in India there's one. Demand is going up, and prices will be much, much higher than they are today."

In other words, if China and India hope to reach even half of the U.S. level of wealth and car ownership, it's going to take an awful lot of oil and gasoline to get there.

The market agrees with Marc's bullish case right now. Oil just hit a new high. just the latest in a well-behaved bull market.



-Brian Hunt

OPEC expects Chinese will take up a slack in demand
Mood:  d'oh
Topic: Oil Production
THE DAILY STAR (Lebanon) 20 June '06:
"OPEC expects demand for oil to rise despite continuation of high prices" by
Michael Adler AFP
HEADING::"cartel predicts chinese sales will offset European slump"

QUOTES FROM TEXT:
"cartel projects chinese sales will offset European slump"

"OPEC said "world demand for oil in 2006 is forecast to grow ... 1.6
percent"

VIENNA: OPEC's estimate for demand for its oil in 2006 is up by 100,000 barrels per day (bpd), even if high prices are reducing growth in oil demand
in certain key regions, especially Europe, the powerful cartel said in a report Monday. "The estimated demand for OPEC crude in 2006 is expected to average 28.7 million bpd, representing an upward revision of 0.1 million bpd versus last month," the 11-nation Organization of Petroleum Exporting
Countries said in its monthly report for June.
OPEC said "world oil demand in 2006 is forecast to grow or 1.6 percent"
. . "US oil demand is expected to ... show an increase in the second quarter of 2006," OPEC said. . . .United States "oil demand in the second
quarter is keeping up with the high 3.4 percent economic growth" and in the Middle East "oil demand has been revised up ..." OPEC said. . . . "Chinese
oil demand is now expected to grow ...to average 7 million bpd in 2006," OPEC said.

The International Energy Agency(IEA) drew a broad picture in its monthly report of strongly growing demand for oil products in developing countries
in contrast to flat or declining demand in advanced industrialized countries
in the OECD.

Topic: Oil Price
Former Fed Chief Greenspan Warns of Energy Crisis
June 9, 2006

http://www.renewableenergyaccess.com/rea/news/story?id=45130

Washington, DC [Knight Ridder Newspapers] Rising energy prices are pushing up inflation and increasingly threatening the U.S. economy, former Federal Reserve Chairman Alan Greenspan testified Wednesday. He called for speedily developing alternative energy sources such as ethanol and liquefied natural gas. In his first appearance on Capitol Hill since he ended his nearly 19-year Fed tenure Jan. 31, Greenspan testified before the Senate Foreign Relations Committee that America had better reduce its dependence on foreign oil or suffer damaging economic

Rising oil price costing Israel more
Topic: Oil Price
Arutz Sheva News Service
  IsraelNationalNews.com
Sunday, Oct. 24, 2004 The rising price of oil is taking its toll on Israel as well.  The skyrocketing barrel prices are expected to cost Israel some 3 billion shekels this year, equivalent to half-a-percentage point of its Gross National Product.  Every jump of a dollar in oil prices costs Israel some $70 million in fuel costs per year, and will cost the average Israeli family an estimated 1,000 shekels (almost 15% of an average monthly salary, according to salary statistics released today).  The numbers were calculated in the framework of the "Senate" project, and were submitted to MKs and other public officials.

Should Arabs and Moslems control vital commodities?
Topic: Oil Production
Taken the track record of violence, terrorism (as in Sudan, Palestinians, Hesbollah, Al Queda, etc.), separatism (as in Bosnia, India, Philippines, etc.) and Baal paganism (as in Najaf, Iraq)** of Arabs and Moslems, the world should seriously consider whether they should have control over such a vital commodity as crude oil!!

**1 Kings 18:26 So they prepared one of the young bulls and placed it on the altar; and they called to Baal all morning, shouting, "O Baal, hear us!" But there was no reply of any kind. Then they began to dance around the altar. ...28 So they shouted louder and, as was their custom, cut themselves with knives and swords until the blood gushed out. 29 They raved all afternoon until the time of the evening sacrifice, but there was no reply, no voice, no answer. TLB

Arab's Dependence on Oil
Topic: Editorial
A Study commisioned by our Project Host, Holy Land Inc.

One often hears the question, "why do the Arabs in the Middle East have all the oil while Israel, the land promised to be overflowing with milk and honey, seems to have very little?" But one also needs to ask, "has Israel's neighbor's oil been all that much of a blessing to them on a longer term?"

The answer lies in determining WHAT ELSE DO THEY HAVE in terms of intellectual property and industries - apart from those set up by other countries - mostly to manufacture weapons of mass destruction that don't contribute to GDP. In other words, what other than oil contributes to the gross domestic product of Israel and oil producing countries respectively. (See Arabs just oil)

The reason for bringing oil into the picture from our Biblical Zionist point of view, is its importance to Israel's Islamic neighbors - who are also her enemies seeking her destruction. Oil is important due the power it gives oil producing nations over other nations. It, of course, provides funding for war and arms. This Discussion Blog will therefore deal with the ramifications of variables in the production, price, etc. crude oil on Israel and other nations.

Comments from readers and articles for possible inclusion will be welcomed.