Ten years ago, April 20, 11 men on the Deepwater Horizon were incinerated when the BP/Transocean oil rig blew out and exploded. Just 17 months before the Deepwater Horizon destroyed 600 miles of Gulf Coast, BP covered up a
Palast conducted a five-continent investigation of Big Oil for British TV’s premier current affairs program
Who put out the hit on van Heerden? Ivor van Heerden is the professor at Louisiana State University’s Hurricane Center who
excerpted from, “Armed Madhouse” (Penguin 2006)
It has been a very good war for Big Oil — courtesy of OPEC price hikes. The five oil giants saw profits rise from $34 billion in 2002 to $81 billion in 2004, year two of Iraq’s “transition to democracy.”
But this tsunami of black ink was nothing compared to the wave of $113 billion in profits to come in 2005: $13.6 billion for Conoco, $14.1 billion for Chevron and the Mother of All Earnings, Exxon’s $36.1 billion.
Guerilla News Network – Excerpt from Armed Madhouse
Now that I’ve convinced you that the Peak Oil crowd is crackers, let me disagree with myself. We can’t understand the new class war unless we understand why oil, a certain kind at least, has in fact “peaked.”
We’ve long jumped over Hubbert’s predicted peak and, in 2006, rolled our SUVs right through the “culmination”- that is, used the last drops of the one-and-a-quarter-trillion barrels of liquid crude the good Earth can provide according to the Hubbert jeremiad. Furthermore, “The rise in the production of power from nuclear energy for the United States” ran out long before uranium’s five-thousand-year reign, despite Hubbert’s hope and prediction.