New York Times, 28 March 2012
Airplane cockpits are meant to be the last line of defense from outside aggressors. But what if the threat comes from the cockpit itself? On Tuesday, a JetBlue pilot who was behaving erratically was physically restrained by passengers after his co-pilot locked him out of the cockpit. With chaos in the cabin, the plane, flying from New York to Las Vegas, was forced to make an emergency landing in Amarillo, Tex.
Energy Bulletin, 26 March 2012
This article was inspired by the disjuncture between a UK government document which reveals the stunning decline in UK oil production, as opposed to British media inattention to this worrisome development. The website of Department of Energy and Climate Change (DECC) states, “Total indigenous UK production of crude oil and NGLs in the third quarter of 2011 was 22.7 per cent lower than a year…. For the first time since quarterly records began, imports of crude oil exceeded indigenous production” (p. 20). For any modern nation, a 22% decline in oil production would be significant over the course of a decade. A 22% drop over a mere 12 months ought to be front-page news, yet this radical decline has passed relatively unnoticed.
Energy Bulletin, 25 March 2012
If you have the power and the desire to bring down oil prices, the best way to proceed is to start bringing them down. The easiest and fastest method would be to make more supplies available to the world market and keep adding until you reach your target price. The less you say about what you are doing, the better. When market participants are filled with uncertainty about your intentions, they have only the direction of prices to guide them. That means the speculative players can help you achieve your goals more quickly as they panic out of their positions. This was not, of course, the path chosen by the United States, Great Britain and Saudi Arabia recently when they announced that they were contemplating intervention in the oil markets–in the form of releases from strategic petroleum reserves in the case of the United States and Britain and in the form of increased production by Saudi Arabia.
CNBC, 28 March 2012
What looked to be a fairly robust economic recovery has turned lackluster thanks
to rising gas prices and uncertainty over demand, according to author and former
General Electric CEO Jack Welch.
Reuters, 28 March 2012
Gas guzzlers may wait in vain for a return to cheap oil. Big producing
nations like Saudi Arabia, which handed out cash to restive citizens during last
year’s Arab Spring, need higher oil prices to balance their books. Meanwhile, a
three-fold increase in the costs associated with extracting crude over the past
decade has made expensive oil more a necessity than a luxury for energy firms,
according to a Morningstar study. Put the two trends together and it looks like
dear oil is here to stay.
The Telegraph, 29 March 2012
Downing Street said that those who rely on cars to get to work should have “contingency plans” for possible disruption of the fuel supply network. Ministers are considering a range of options for keeping fuel flowing, including deploying Service personnel to drive tankers. No 10 has not ruled out trying to employ foreign drivers to stand in for British staff.
AoL, 29 March 2012
The papers are full of claims this morning that the government has called on
drivers to rush out and fill our petrol tanks with fuel as soon as possible –
just in case there is disruption to the fuel supply network. But is that
really such a great idea?
7238. Mr J.C. Kobelke to the Minister for Road Safety – For each year from 2001–02 to 2010–11, of the Road Trauma Trust Fund expenditure, what were the:
(a) amounts and purposes of all payments categorised as Support Implementation; and
(b) the amounts provided to Western Australia Police for the Strategic Traffic Enforcement Program?
7327. Mr J.N. Hyde to the
Minister for Transport- In relation to the Minister‘s
announcement in question time on 22 February 2012 that 4000 car parking bays in
East Perth will be used by Burswood Stadium fans, and accessed by a footbridge
to the East Perth foreshore also to be used by train users from East Perth and
Claisebrook Stations, I ask:
(a) will the Minister please
detail the precise locations of these 4000 car bays and indicate their current
(b) will the Minster please detail the exact location of the
(c) what is
the cost of the footbridge;
(d) how many
projected train users alighting at East Perth and at Claisebrook will use the
(e) if the
Minister cannot provide these details, did the Minster or the Department for
Transport provide information to Channel 9 for an exclusive story revealing the
footbridge along the East Perth foreshore on around June 2, 2011?
7351. Mr J.N. Hyde to the Minister for Transport- In relation to the Perth Parking Fund levy I ask:
(a) what is the exact boundary of car bays which attract the levy;
(b) how many car bays are currently levied;
(c) are residential street car bays in front of residential homes attracting the levy;
(d) are any residential homes with car bays attracting the levy;
(e) how many car bays, and at what financial total, are levied on the City of Perth; and
(f) what is the current amount of money in the fund?