Oil crisis dominates G8 meeting

Freedumb, Freedumb, Read All About It! In a world of exploding human population, with its myriad needs, wants and desires, the economy keeps falling, with more and more working people around the world, poorer, lacking basic needs and going hungry. Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price of all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor is it Nature's Law, nor a scientific law

The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence.

The Solution: The Promise of New Energy Systems & Beyond Oil

Evaporates the Problem: The ill designed "Corporism: The Systemic Disease that Destroys Civilization." when lacking a Bill of Rights for Human Life

Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans).

As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.



Oil crisis dominates G8 meeting

Published: 2008/06/08 15:40:27 GMT

The energy ministers of the world's leading industrialised nations have met in Japan amid fears soaring oil prices could damage the global economy.
The Group of Eight (G8) organisation met two days after a record one-day jump in crude oil to $139 a barrel.
Efficiency, shared technology and the promotion of alternative power sources were high on the agenda.
But disagreements surfaced on fuel subsidies, which the US and others feel have helped boost prices.
Strategic stocks
The meeting took place in Aomori, on the northern edge of Japan's main Honshu island.
Business Secretary John Hutton, who represented Britain at the meeting, called for an increase in oil production to push prices down.
He added that Britain and other Western countries need to help developing nations reduce the environmental impact of their energy use.
On Saturday, five key energy-consuming nations, the United States, China, Japan, India and South Korea, all called on oil producers to increase output to try to control the soaring prices.
The Organisation of Petroleum Exporting Countries (Opec) has said no new decision will be made until its meeting in Vienna in 9 September.
US Energy Secretary Samuel Bodman said: "It's not good for producing nations to see the US struggling economically. They depend on us to be a significant engine in world economic activity."
Later, Australian Prime Minister Kevin Rudd said a "blowtorch" needed to be applied to OPEC to urge the cartel to increase production.
The ministers of the five nations meeting on Saturday also agreed on other issues such as developing clean energy technologies, improving efficiency and on better cooperation in strategic oil stocks.
However, sharp differences emerged on fuel subsidies.
The BBC's Chris Hogg in Tokyo says heavy fuel subsidies are used throughout the developing world to try to ease the burden on the poorest in society.
Mr Bodman said the subsidies in China and India had helped drive demand and so increase prices.
"We know demand is increasing because a lot of nations are still subsidising oil, which ought to stop," he said.
India insists there is no agreement to remove the subsidies altogether.
Its representative at the talks on Saturday said the country was not ready to move to a position where the market decided the price its citizens should pay for oil.
China also made clear it had no time frame for moving towards lower subsidies, saying they needed to consider carefully how removing them might affect the country's social and political stability.
Mr Bodman said even quick action at the Aomori talks might not bring immediate benefits.
"This has been a long time in coming... this is going to take a long time to accomplish."
The Aomori talks herald a full meeting of G8 leaders on Japan's northernmost Hokkaido island in July.
Friday's spike in oil prices coincided with a dollar slump, plummeting share prices on Wall Street and US unemployment suffering its biggest rise in 20 years.
Some analysts have suggested that prices would reach as high as $200 a barrel during the next 18 months.
The benchmark light, sweet crude oil is more than twice the price it was a year ago.
Story from BBC NEWS:http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/7442170.stmPublished: 2008/06/08 15:40:27 GMTBBC MMVIII