Duck! Peking Oil

When the rivers start to run backwards, the natives can usually guess that some bad mojo will start to happen soon.

TOD points out the increased outflux of diesel oil from the USA to Europe and presumably elsewhere may signal the precursor to a Technical PO.

The Capital Spectator has thoughts on falling oil prices. I always go for the Occam's razor explanation on things financial; the market pumps oil prices up and down to make money off the investments -- with the early insiders making the money on the way up and the late bloomers funding the brokers on the way down. In a monotonically increasing price rise, the investor class has a harder time making a profit.

From Avedon, guest-blogging at Eschaton, word that Michael Moore's Fahrenheit 9/11 sub-plot focussing on Afghani natural gas pipelines may eventually prove out: here and here.

And closing the loop, monkeygrinder links to how the Furitans plan on increasing our supplies for the export markets. NIMBY Okie Istook suggests offshore sites:

Rep. Ernest Istook, R-Okla., who proposed the amendment to open oil drilling in the eastern gulf, said current technology has reduced oil spills to one-one thousandth of 1 percent of what is pumped.

Can I wish that the next daily spill of 800 barrels happens in his backyard?