Monday, March 14, 2011

Oil rides Tsunami

It was a double whammy for Japan. A massive earthquake followed by tsunami shock-wave, was just too much for the yellow ants. Japan, I know it as one of the most beautiful countries in the world, has been devastated by this violent act of god. As if it were not enough, now they are facing even bigger disaster of nuclear blow-out at their N-power plants in Fukushima, where the cooling system of the reactors failed after the tsunami. Memories of WW2 are back to haunt them. Japan's one third power comes through these nuclear reactors.

After the economic meltdown in 2008, oil prices tumbled. Slowly but steadily they rose and stabilised at usd70 a bbl. Thanks to Deepwater Horizon disaster, after which future of off-shore drilling in USA was blacked out.
...And lately the unrest in oil producing countries of Africa and middle-east kicked up the oil prices. Dearing oil was clearing the road for nuclear energy development world-over when this happened. The incident will put all those radio active ideas in the cold storage for now, thus providing yet another boost to the oil prices.

The time is just ripe to go in for the radical changes in our life-style and development of renewable energy resources. In an absolute humbling experience, man is yet again dwarfed by the revolting nature.

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