LifeItself

Dr. Daniel Yergin has just published "The Quest," "a magisterial masterpiece," according to an endorsement by Dr. Lawrence Summers, a well known economist and ex-President of Harvard University. Mr. Yergin received his B.A. from Yale University in 1968, and earned his Ph.D. in International Relations (1974) from Cambridge University. The other endorsements came from: Mr. Walter Isaacson, a writer and biographer, and President of The Aspen Institute. Dr. Henry Kissinger, who received his A.B., A.M. and Ph.D. degrees at Harvard University. His doctoral dissertation was titled "Peace, Legitimacy, and the Equilibrium (A Study of the Statesmanship of Castlereagh and Metternich)." Mr. Steve Coll, a journalist and writer, and President of the New America Foundation. Mr. Fred Krupp, an environmental lawyer from the University of Michigan, and CEO of the Environmental Defense Fund. Mr. Frederick W. Smith, B.A. in economics from Yale University, CEO of FedEx...

On Friday, 06 May, 2011, Professor David Summers posted on OilPrice.com an oddly emotional article,  A Look at the Serious Energy Shortages in India and Pakistan . Dr. Summers correctly points out that severe shortages of coal supply in India and Pakistan will not be quenched by imports from Australia, because China will outcompete anyone for the same coal imports. From our analysis it follows that China's coal production will be difficult or impossible to maintain at the current high level. And China's coal demand is skyrocketing despite attempts to reign in coal burning by their most inefficient industrial enterprises. Dr. Summers then goes on to say that the folks like Tad Patzek and Dave Rutledge have it wrong anyway, when they talk about the global peak of coal production and inability to satisfy demand that follows.   Well, here we are: Too much demand worldwide, and not enough supply. The coal price goes up, way up, and still not enough supply.  How does o...