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Are Gas Shortages Coming to America?
Are Gas Shortages Coming to America?
Gas shortages could be coming to America…and quickly.
An unexpected fuel crisis has hit Canada. According to a Canadian blogger andauthor, not one, but two, fuel tankers were inexplicably delayed last week, and shortages ensued alarmingly quickly, with numerous gas stations running completely out of fuel within a matter of days. Marie Beausoleil wrote:
The delay was long enough that gas stations across Nova Scotia ran out of gas, even with a week of rationing. The gas stations knew the tankers were going to be late and starting rationing in advance.
By Thursday, storage tanks in the city of Dartmouth were empty.
The tankers arrived on Friday and started the process of unloading.
By Saturday the shortage had spread to the smaller communities, the less busy gas stations.
By Sunday evening, motorists across the province were stranded and “Out of gas” signs were everywhere. It would take, people were warned, at least a week to get all service stations filled across the province (and if you’re not familiar with it, Nova Scotia is a very small place!) (Check out the rest of the article HERE)
If you couple a potential fuel shortage with the dramatic instability of the US stock market, it sure doesn’t paint a sunny forecast for the American economy.
A major fuel shortage could send epic economic shockwaves across the country, since our economy is based on cheap oil.
It all boils down to this: the transportation system.
- If we can’t transport goods, businesses will have nothing to sell.
- If businesses have nothing to sell, they can’t keep their staff employed.
- If people have no work, they have no money.
- If a few items are available, they will be outrageously expensive and not many folks will be able to afford the goods.
- If you DO have money, you still have very little to buy.
Lots of people like to shake their heads and say, “Oh, this won’t hurt me at all.” That’s pretty shortsighted, because a fuel shortage will affect EVERYONE. CDL Life News recently published this alarming infographic.
…click on the above link to read the rest of the article…
5 signs of trouble for Saskatchewan’s economy in oil slump
Many said province could withstand economic blows from oil and gas, but there are troubling signs
When crude oil prices began to plummet, economists comforted Saskatchewan residents that their diversified economy would safeguard them during the oil and gas slump.
In fact, Saskatchewan’s economy isn’t that diverse.
The province relies heavily on natural resources: fuel, food and fertilizer.
The Canadian Association of Oil Drilling Contractors forecasts it will drill half as many wells in 2015 compared to 2014.
And while economists were banking on the agriculture and potash industries to offset energy losses, they’re no longer confident that will happen.
The potash industry remains strong in production, on par with its growth last year, but nitrogen prices have fallen about $60 US a tonne.
Most worrisome, it’s shaping up to be a disappointing crop year for many Saskatchewan farmers, thanks to an unwelcome mixture of spring frost, drought and poorly timed rains.
While cattle prices remain high, drought has jeopardized hay yields and could force some ranchers to sell off their herd.
The Bank of Montreal has already downgraded its growth projection for Saskatchewan this year from one per cent to half a per cent.
“It’s disappointing,” chief economist at the Bank of Montreal, Douglas Porter, said. “The likelihood of a pretty tough crop this year further dims the outlook for western Canada.”
The Royal Bank of Canada told CBC News it expects to downgrade its growth projection next month as well.
Premier Brad Wall says he’s still confident the province can overcome economic pressures, and points to his government’s four-year plan to spend $5.8 billion on infrastructure.
Still, there are already red flags for the economy. Here are five signs of trouble:
1. Housing sales
The honeymoon is over for Saskatchewan’s housing boom.
The Canadian Real Estate Association predicts house sales in Saskatchewan will decline by nearly 13 per cent this year.
…click on the above link to read the rest of the article…
Starved for Energy, Pakistan Braces for a Water Crisis
Starved for Energy, Pakistan Braces for a Water Crisis
Energy-starved Pakistanis, their economy battered by chronic fuel and electricity shortages, may soon have to contend with a new resource crisis: major water shortages, the Pakistani government warned this week.
A combination of global climate change and local waste and mismanagement have led to an alarmingly rapid depletion of Pakistan’s water supply, said the minister for water and energy, Khawaja Muhammad Asif.
“Under the present situation, in the next six to seven years, Pakistan can be a water-starved country,” Mr. Asif said in an interview, echoing a warning that he first issued at a news conference in Lahore this week.
The prospect of a major water crisis in Pakistan, even if several years distant, offers a stark reminder of a growing challenge in other poor and densely populated countries that are vulnerable to global climate change.
In Pakistan, it poses a further challenge to Prime Minister Nawaz Sharif, whose government has come under sharp criticism for failing to end the country’s electricity crisis. In some rural areas, heavy rationing has meant that as little as four hours of electricity a day is available.
…click on the above link to read the rest of the article…
New Report Urges Western Governments to Reconsider Reliance on Biofuels
New Report Urges Western Governments to Reconsider Reliance on Biofuels
Western governments have made a wrong turn in energy policy by supporting the large-scale conversion of plants into fuel and should reconsider that strategy, according to a new report from a prominent environmental think tank.
Turning plant matter into liquid fuel or electricity is so inefficient that the approach is unlikely ever to supply a substantial fraction of global energy demand, the report found. It added that continuing to pursue this strategy — which has already led to billions of dollars of investment — is likely to use up vast tracts of fertile land that could be devoted to helping feed the world’s growing population.
Some types of biofuels do make environmental sense, the report found, particularly those made from wastes like sawdust, tree trimmings and cornstalks. But their potential is limited, and these fuels should probably be used in airplanes, for which there is no alternative power source that could reduce emissions.
“I would say that many of the claims for biofuels have been dramatically exaggerated,” said Andrew Steer, president of the World Resources Institute, a global research organization based in Washington that is publishing the report. “There are other, more effective routes to get to a low-carbon world.”
…click on the above link to read the rest of the article…
Ukraine Cuts Power To Crimea Again, Halts Train Services | Zero Hedge
Ukraine Cuts Power To Crimea Again, Halts Train Services | Zero Hedge.
There was some expectation following the loud public response following Ukraine’s shut down of power to Crimea on Christmas Eve, that Kiev would treat the territory which it alleges is still part of Ukraine as, well, part of Ukraine. And sure enough, a few hours after the regionwide blackout was first reported, Ukraine restored power. Until today, when moments ago we learned that not only did Ukraine cut off electricity to Crimea earlier today, but also halted train services, moves which, according to the WSJ, could raise tensions with Russia, but which also will harden the local popluation’s pro-Russian determination even further.
Crimea’s Fuel and Energy Minister Sergei Egorov told Russia’s Interfax news agency that power was cut off at 1:50 p.m. Friday without warning. He said backup diesel generators and mobile turbine power plants were supplying critical infrastructure with electricity. More from WSJ:
The power cutoff is the second this week by Ukraine, which says it has electricity shortages of its own because rebels have halted shipments of coal to its power plants. The cutoff in railway services, however, could indicate Ukraine is stepping up its pressure of the peninsula.
Ukraine’s state rail company Ukrzaliznytsia on Friday said it would stop passenger and cargo train services to Crimea “in order to insure the safety of passengers.” The move will affect both Ukrainian and foreign trains traveling to the peninsula, the company said. It didn’t indicate when services would resume.
More from ABC:
Modi’s Gas Gambit Faces Hurdle of Coddled Indian Consumer – Bloomberg
Modi’s Gas Gambit Faces Hurdle of Coddled Indian Consumer – Bloomberg.
India’s first increase in natural gas prices since 2010 to reverse sliding production leaves a key weakness unresolved: consumers who don’t pay enough for power.
Prime Minister Narendra Modi raised the gas tariff by about a third on Oct. 18, part of his biggest energy policy changes since taking office in May. Indebted utilities face the higher charge even as they’re required to sell electricity below cost, raising the risk they’ll favor less expensive sources of power.
“In the end, you need to charge users for their consumption — that’s the bottom line,” said Rajiv Biswas, chief Asia economist at IHS Global Insight inSingapore. Still, the gas revision is a “good” start to boost output, he said.
