This is the most controversial post I have ever written in ten years of blogging.
Posted on November 21, by energyskeptic Preface. But the need for a new, cleaner fuel may cause the next economic crisis. What follows are excerpts from P. Here are a few summary paragraphs from this paper: There is, though, a market constraint to this option.
Volumes of low-sulfur crude oil are limited, and supplies are less certain because these crudes are produced primarily in Nigeria, a country that suffers frequent, politically induced market disruptions. Thus, when the inflexible refiners begin bidding for Nigerian oil, prices will rise, perhaps as much as three or four-fold.
IEA economists explained at the time that the oil price rise from to resulted in part from the frenzied bidding for limited quantities of low-sulfur crude oil, especially supplies from Nigeria.
Insuch refiners contentiously bid for low-sulfur crude, driving prices higher as they sought to avoid closure. This inability to process higher-sulfur crude oils created a peculiar situation. Ships loaded with such crudes were stranded on the high seas because the cargo owners could not find buyers.
At the same time, prices for light sweet crudes rose to record levels. The desperate need for low-sulfur crudes caused buyers to bid their prices higher and higher. This situation will reoccur in The global refining industry will not be able to produce the additional volumes of low-sulfur diesel and low-sulfur fuel oil required by the maritime industry.
In some cases, refiners will close because they cannot find buyers for the high-sulfur fuel they had sold as ship bunkers. In others, refiners will seek lighter, low-sulfur crude oils, bidding up prices as they did in This price increase may be double the rise, however, because the magnitude of the fuel shift is greater and the refining industry is less prepared.
The crude price rise will send all product prices higher. Diesel prices will lead, but gasoline and jet fuel will follow.
As Wikipedia explains, the aphorism warns of the importance of logistics, of having sufficient supplies of critical materials. The global economy likely faces an economic crash of horrible proportions innot for want of a nail but want of low-sulfur diesel fuel.
Economic activity will slow and, in some places, grind to a halt. Food costs will climb as farmers, unable to pay for fuel, reduce plantings. Deliveries of goods and materials to factories and stores will slow or stop.
Vehicle sales will plummet, especially those of gas-guzzling sport utility vehicles SUVs. One or more major US automakers will face bankruptcy, even closure. Housing foreclosures will surge in the United States, Europe, and other parts of the world.
Millions will join the ranks of the unemployed as they did in All for the want of low-sulfur diesel fuel or gasoil.initiativeblog.com Words Beginning With E / Words Starting with E Words whose second letter is E.
E The fifth letter of the English alphabet.. E E is the third tone of the model diatonic scale.E/ (E flat) is a tone which is intermediate between D and E.
Essay on Discrimination Exposed in I Want to Buy a Vowel by John Welter - What is the American dream. For everyone, it is different. The old lady walking across the street may dream of getting a new house.
The c-word, 'cunt', is perhaps the most offensive word in the English language, and consequently it has never been researched in depth. Hugh Rawson's Dictionary Of Invective contains the most detailed study of what he calls "The most heavily tabooed of all English words" (), though his article is only five pages long. Cunt: A Cultural History Of The C-Word is therefore intended as the. Discrimination in justice system is a topic of controversy in society today, but after conducting in depth research, and gathering subjective input it explains why minority males are being incarcerated more than white males. African American Discrimination in the United States Essay Words | 5 Pages. May 07, · A free online PBS documentary called "A Class Divided" takes a look at a two-day experiment conducted by a third-grade teacher, Jane Elliot, in Iowa. The day after Martin Luther King Jr. was shot, Jane Elliot knew that merely telling and preaching to Reviews:
The rich man with a big house might dream that he will find a true love. For the Chinese child at school, maybe it is just to fit in with. Welcome to WordPress. This is your first post. Edit or delete it, then start blogging! Causes of religious discrimination Discrimination is defined as a decision or an act that negatively treats or even proposing to treat a group based on a certain grounds of ideology which they belong to, but not on their attributes.
Causes Of Religious Discrimination (Essay Sample) October 5, by admin Essay Free essay sample . I.
I got Jordan Peterson’s Twelve Rules For Life for the same reason as the other , people: to make fun of the lobster thing. Or if not the lobster thing, then the neo-Marxism thing, or the transgender thing, or the thing where the neo-Marxist transgender lobsters want to steal your precious bodily fluids.
Antiquity. Ancient Rome; Ancient Greece; Asia; Babylonia; Medieval Europe; The Muslim World; Byzantine Empire; Ottoman Empire; Crimean Khanate; Topics and practices.