I have spoken of this before, but the truth is Peak Oil...that is, the finite amount of oil available to humanity is past its peak. This means that with half the oil in the world now gone, the second half will go even quicker because of increased demand. It won't take a 100 or so years to exhaust the second half. A lot of world experts see the world as exhausting the available oil supply within 50 years at the very most. Many think it will be 20 years or less. One thing, though, is certain, the cost of this oil will continue to astronomical heights due to demand and short supplies.

The Oil Effect

Published: August 20, 2005

'Just when it was starting to seem as if consumers were really shaking off high energy prices, Wal-Mart announced this week that its profits stumbled in the second quarter, rising at their slowest rate in four years. Forced to choose between their closets and their gasoline tanks, Americans unsurprisingly chose their tanks. Wal-Mart warned that future sales would be curtailed as well, and no wonder: gasoline is now averaging $2.60 a gallon nationwide, nearly a 39 percent increase from last year. At the same time, natural gas prices are up 60 percent to 90 percent around the country, presaging steep home-heating bills in the months ahead on top of high prices at the pump."

Wall Street giants see oil rising

Oil prices are being influenced by a number of factors

"Wall Street giants Goldman Sachs and Merrill Lynch have revised upwards their predictions for the price of oil.

Oil prices rose to a record of $67.10 a barrel last week on supply and refinery worries and there are fears that prices will not fall and may go even higher.

US light crude will cost an average of $67 per barrel this year, $13.50 higher than a previous forecast, Goldman said.

Merrill, meanwhile, expects to pay an average of $56 a barrel this year, up $6 from its earlier target."

IMF report to warn of oil price threat to global economy

Heather Long
Saturday August 20, 2005
The Guardian

The International Monetary Fund is to warn that record oil prices pose a significant risk to the global economy and could thwart growth next year, according to an apparent leak of its forthcoming World Economic Outlook.

Oil prices spiralled to over $67 a barrel earlier this week and many analysts have cautioned the economy could be headed for a recession if such high prices continue.

Is oil heading for $100 a barrel?

"Instability in the Middle East and bottlenecks in refining are driving prices higher

Larry Elliott, Heather Long and Samira Sohail
Wednesday August 17, 2005
The Guardian

Britain and the United States heard a faint echo from the 1970s yesterday as the escalating cost of a tank of petrol contributed to higher inflation. And with tension in the Middle East providing another reminder of life three decades ago, the message last night was that consumers can expect more of the same over the coming months."

This last bit is prediciting a rescession in Britain. But the US is not far behind. The world is, after all, now connected via programs like CAFTA and NAFTA, do what effects one will effect all.

But, while Europe is busy working on wind, solar, geothermal, and fuel cell alternatives to oil, what are the elected leaders of America doing?

They are giving themselves heaping slabs o' pork to fattern their wallets...

Alaska's Road to Nowhere

By HEATHER LENDE

Published: August 20, 2005

Haines, Alaska

"YOU have probably already heard about the pile of cash going to Alaska from the federal transportation bill. There's about a quarter of a billion dollars for a bridge to connect the airport on Gravina Island to Ketchikan (population 14,000). The bridge will rival the Golden Gate and Brooklyn Bridges in length and height.

Then there's $230 million or so for "Don Young's Way," a bridge between Anchorage and a swampy, undeveloped port, which is named for the man who got us the money, Alaska's lone congressman. (there is also)..the $15 million designated for a road between Juneau and Skagway"

And ya know what just makes this a real hoot? These "Conservative" Republicans have even given themselves $4 million extra just to make a film about these boondoggles! Now that is freaken balls!
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The good news, is that Cindy Sheehan may have been the unwitting catalyst to move the anti-war movement into action. At Last!

Candlelight vigils up anti-war tempo

Crawford, Texas, ap:

Thousands took part in the protests as Cindy Sheehan, whose son was killed in Iraq, spearheaded the anti-war movement outside Bush’s ranch.

Hundreds of candlelight vigils calling for an end to the war in Iraq lit up Wednesday night, as part of a national effort spurred by one mother’s anti-war demonstration near President Bush’s ranch.

Supporters of Cindy Sheehan hold a candlelight vigil in front of the White House on Aug. 17, 2005, in Washington.

After Cindy Sheehan
The antiwar movement was dominated by lefties and ineffective -- until a grieving mother from California became its symbol. With Middle America now asking the same angry questions she is, will the movement finally take off?

By Farhad Manjoo

More Words from Cindy Sheehan:

"Now I am being vilified and dragged through the mud by the righties and so-called "fair and balanced" main stream media who are afraid of the truth and can't face someone who tells it by telling any truth of their own. Now they have to twist, distort, lie, and scrutinize anything I have ever said when they never scrutinize anything that George Bush said or is saying. Instead of asking George or Scotty McClellan if he will meet with me, why aren't they asking the questions they should have been asking all along: "Why are our young people fighting, dying, and killing in Iraq? What is this noble cause you are sending our young people to Iraq for? What do you hope to accomplish there? Why did you tell us there were WMD's and ties to Al Qaeda when you knew there weren't? Why did you lie to us? Why did you lie to the American people? Why did you lie to the world? Why are our nation's children still in harm's way and dying everyday when we all know you lied? Why do you continually say we have to 'complete the mission' when you know damn well you have no idea what that mission is and you can change it at will like you change your cowboy shirts?".."

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and then there is this.....

Navy Officer Charlie Anderson: "We Don't Need Yellow Ribbons, We Need Help, We Need Jobs"

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"Navy Officer Charlie Anderson participated in the invasion of Iraq in March 2003. He is at Camp Crawford to ask questons about how the Bush administration managed the invasion and to challenge the post-invasion policies.

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Navy Officer Charlie Anderson wants to question Bush about his handling of the invasion of Iraq. He told Democracy Now!, “I want to know why I was sent into an unnecessary war without body armor, in an unarmored humvee...and how Mr. Bush can claim that he supports the troops while he continues to cut the V.A. Budget and to scale back services.”

We speak with Charlie Anderson about the education and health care needs of veterans and the lack of support from the Bush administration.

• Charlie Anderson, Petty Officer 2nd Class, U.S. Navy, assigned to the second marine division, second tank battalion 5th regimental combat team..."

George W. Bush is in the process of cutting enormous amounts of funding from the VA and is even questioning the help they have given by 'investigating' 72,000 settled claims for 100% PTSD. Can ya just beat that! The American serves his or her country in a war, suffers severe Post-Traumatic STress Disorder from this war, is diagnosed and given 100% disability by the VA, and then the VA wants to investigate them to see if they were lying.

This is the Bush Years. This is the Bush Philosophy. This is the Bush mentality. This is the Bush perspective. The rich get obscenely wealthy, the rest get platitudes and lies. If you support the Bushites, go to their war, follow their commands, they will turn on you like they have turned on everyone.

It is damned pathetic those deluded Americans who believe this President gives one shit about them or their country. George W. Bush is a second rate dictator with megalomania who has one goal and only one: Personal Power.