For over 100 years up to 1970, the price of a barrel of oil was remarkably stable at between about $us21 and $us25 (adjusted for inflation). Contrary to general belief, the formation of OPEC in 1960 did not lead to an immediate increase in oil prices - in fact, prices declined throughout the sixties. What actually changed things was peak oil in Texas which occurred in about 1970.

Up to that time, the Railroad Commission of Texas, which (despite its name) regulates the Texas oil and gas industry, had limited the amount of oil that was produced in order to control prices. In March, 1971, it stopped controlling supply because there was no longer any surplus which could be held back. The effect of this was to give control to OPEC, which did have a surplus - and, in reality, to Saudi Arabia whose supplies dominated OPEC.

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The publicity about the danger to polar bears from global warming could easily lead you to believe that their numbers are already shrinking dangerously. In fact, in the early 1970s, the number of polar bears was estimated at between 5,000 and 10,000. As a result of hunting restrictions, there are now between 20,000 and 25,000 polar bears.

It is true, however, that if global warming continues to reduce the ice-covered area of arctic, which is the polar bears habitat, then the bears are in danger. One of the southernmost populations, in Western Hudson Bay, has declined by over 22% in the past 20 years as warmer temperatures have reduced the length of their winter hunting season in that area.

Mandatory cute polar bear picture (Public domain)

(Based on sources including: Wikipedia)

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1.1 billion people do not have access to safe drinking water.2.6 billion people - about half of all the people living in developing countries - do not have proper sanitation. And 80% of all diseases in those countries are water-related.

Water is being taken from lakes and rivers at twice the rate of 40 years ago. Many of the world’s great rivers, including the Nile, the Yellow and the Colorado, often dry up before they reach the ocean.

The Aral Sea
("Remains of a Port" by Muinka ex Flickr)

Water tables are falling in every continent. As a result, 40% of all agricultural land is already moderately degraded and 9% is highly degraded. Click here to read the rest of this entry.

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