Thought those of you who may be interested in energy might enjoy the following:
Peak Oil Notes
A Mid-week Update
Tom Whipple, Editor
The strike in France
The dispute over pensions in France has escalated with millions taking to the streets in opposition to the government’s effort to increase the retirement age to 62. All 12 of France’s oil refineries have been shut down and some 4,000 filling stations -- a third of the total -- are out of fuel. Although the government maintains a 3-month supply of gasoline in reserve, strikers are struggling with riot police to block access to these reserves. Air travel is significantly reduced and natural gas supplies are threatened.
The Unions with the support of much of the French populace are attempting to sway sentiment in the French legislature prior to a vote later this week. If these votes do not settle the issue, and the strikes continue, then the oil shortages will soon have a major impact on France’s economy and perhaps have wider implications for world oil prices.
