CLIMATE CRISIS
Bad loans will worsen if economy falters: RBI Indian Express The Reserve Bank of India (RBI) has warned that the asset quality of scheduled commercial banks may worsen from the current level if the macroeconomic conditions deteriorate drastically. The central bank’s latest Financial Stability Report has also raised red flag on connected banks triggering a…
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Editor’s note: The ongoing oil price war that pits a shale-boom riding U.S. and their allies OPEC against arch rivals Russia, Iran and Venezuela could have far-reaching consequences. It has begun to seriously impact a Russian economy already isolated by U.S. and EU sanctions. At a time when Ukraine is a flashpoint between the West and Russia, such…
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U.S. Streaks Past Saudi Arabia as World’s Largest Oil Producer Breitbart News The United States surpassed all other countries this year with daily crude oil and other petroleum liquids reaching 11 million barrels per day (mbd). Since the beginning of 2011, U.S. liquid fuels grew by more than 4 mbd, including 3 mbd of crude…
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Ebola: Uncharted territory for a system in overshoot Mary Odum, Prosperouswaydown.com We are in uncharted territory with the Ebola virus disease (EVD). This pandemic signifies a turning point for society in response to peak oil, highlighting the problem of globalization for a planet of 7 billion people. We have lost control of a deadly outbreak, and our responses to…
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If We Release a Small Fraction of Arctic Carbon, ‘We’re Fucked’: Climatologist From Vice.com Recently, scientists have made a disturbing discovery in the Arctic Ocean: They saw “vast methane plumes escaping from the seafloor,” as the Stockholm University put it in a release disclosing the observations. The plume of methane—a potent greenhouse gas that traps…
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The oil industry’s fake abundance story From Kurt Cobb’s Resource Insights blog We now have nearly an entire population in the United States and nearly an entire media establishment that believes that oil is abundant–not because of the objective facts, but because of the oil industry’s highly successful public relations campaign, a campaign that is…
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