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Notes on Managing the Oil Crisis PDF Print E-mail

by Walden Bello

Speech delivered during the Development RoundTable Series Forum on Oil and Electric Power held at the Sulo Hotel on 17 June 2008


Our dependency on oil has never been more excruciating than it is today.   The price of fuel has reached unheard of heights.  The price of crude went above $139 a barrel over a week ago, before easing.  At the pump, the price of unleaded gasoline has gone beyond P56 and diesel above P49.  We are now consuming over 120 million barrels a year, and 90 per cent of that is sourced outside the country.

What is causing this unprecedented rise in global oil prices?  The key factor seems to be that the demand for oil is rising much faster than its supply, and this is due fundamentally  to the fact that the few old oilfields on which the world relies for most of its oil are being depleted and no new fields have been discovered that can match their production and reserves.  Peak oil, which was viewed just a few years ago as a outlandish theory, is now being treated as fact.  The second factor pushing up prices is the rush to buy oil futures contracts, a development that is partly determined by the fear that available oil will increasingly become scarce, partly by the desire of investors to park their wealth in oil instead of the declining dollar.

To read the whole article click here  
Note: You will be redirected to Walden Bello's Official Website

 
Who's Afraid of the New China? PDF Print E-mail

by Isa Lorenzo

Originally posted at the PCIJ website

NOWHERE are the contradictions in the new China more apparent than in the contrasts between the countryside and Beijing. In the Chinese capital city, the old hutongs (narrow streets) are rapidly being demolished to make way for new high-rise condominiums. The gleaming “bird’s-nest” national stadium designed by a team led by the noted Swiss firm Herzog & de Meuron will be the centerpiece of the 2008 Olympic Games this August. A six-lane highway is one of many roads that criss-cross the city.

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DRTS Trade and Industrial Policy: Forum on Oil and Power PDF Print E-mail
oil

The relentless price increases in key commodities worldwide has diverted attention from the highly-political nature of conflicts in the Philippines to one that is focused on gut issues and daily survival. The almost weekly increases in the pump prices of oil products, and the rice shortage and price increases highlighted mostly consumer issues, and not without reason. On top of long queues for the elusive National Food Authority (NFA) rice in urban centers, oil prices at the pump have been increasing almost weekly since the start of the year.
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Announcement: Climate Justice Conference PDF Print E-mail
12-14 July 2008
Bangkok


Focus on the Global South is co-organizing a conference on climate justice from July 12-14 2008 in Bangkok.  The conference aims to bring together civil society organizations, networks and movements from across Asia to collectively discuss and learn about climate change issues and bring  new perspectives and analyses to the climate debates from local/national movements and organisations.
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FOP May 2008 PDF Print E-mail

Contents:

  • PERSPECTIVE: How to Manufacture a Global Food Crisis by Walden Bello
  • PHOTO OF THE MONTH: China
  • SOCIO-ECONOMIC MONITOR: Wage Increase by Julie de los Reyes
  • DEVELOPMENT BRIEF: Status Symbol: The Status of Visiting Forces Agreement with Australia Up for Ratification at the Senate by Herbert Docena
  • POLITICAL ROUND UP:The Buzz in Congress by Joseph Purugganan
  • UPCOMING EVENTS 
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