The last big reserve of cheap oil is in Kirkuk, Iraq. Control of this oil means tremendous power over the world economy. Cheap oil is oil that gives a lot of energy back for little energy spent -- high net-energy oil. Prices, money, debt, can be manipulated, but laws of physics cannot be changed by humans.
High energy return on oil has created a complex society that needs the energy in liquid form. But every day each joule costs more joules. When you include clean-up costs, many oil projects are actually negative net-energy and the only reason they continue is debt-financing and externalization of costs.
High energy return on oil has created a complex society that needs the energy in liquid form. But every day each joule costs more joules. When you include clean-up costs, many oil projects are actually negative net-energy and the only reason they continue is debt-financing and externalization of costs.
Now the most advanced weapons of the world are being used against civilians in the areas near Kirkuk. Brutal dictators who bomb and torture their own citizens are being propped up.
But we are not helpless. Local campaigns to boost public transit and weaken the power of the private auto are shooting an arrow into the Achilles heel of this system.
