World to Oil Producers — “We Don’t Want Your Fracking Crude”

“World oil prices routed to 49 dollars per barrel today amidst weak global demand. It’s a sea change in the oil and energy markets that is now in the process of rattling many previously well established oil ventures to their foundations. A shot across the bow that may well signal the beginning of the end of crude due to a combination of expensive production, competition by renewables and efficiencies, and a widespread recognition of ramping hazards from human-caused climate change.  Photo:  Fracking Pads stretch as far as the eye can see in North Dakota’s Bakken Formation (Image source: Greenpeace).

“Within 5-10 years the next price war on marginal oil may well be spear headed by renewables themselves. And that is a good thing, because in order to prevent the very worst impacts of human caused climate change that geological firewater needs to remain where it belongs — in the ground. In other words, there’s good reason not to want that fracking crude.”

Source: robertscribbler.wordpress.com

GR:  This is an excellent review of the current global oil market.  As Scribbler points out, there has been a huge sacrifice of nature for oil profits.  Scribbler also included the photo below in his article.

(Tar Sands’ hellish landscape of ruined Earth and toxic tailing ponds. Image source Occupy.)

(Tar Sands’ hellish landscape of ruined Earth and toxic tailing ponds. Image source Occupy.)

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