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We're almost certainly talking about a period inside the next ten years. You think solar is good to go on a massive scale so soon? I don't. The shale and tar s

We're almost certainly talking about a period inside the next ten years. You think solar is good to go on a massive scale so soon? I don't. The shale and tar sands stuff is a bit of a joke. We're talking total proven reserves equivalent to something like six years of US consumption. I'm sure it has made some people rich and will make others rich, but it means approximately nothing in the grand scheme of things. Very few people understand the financial dynamics of Peak Oil. We're seeing them play out right now. As the cost of extraction goes ever upwards, there is tremendous deflationary pressure throughout the economy, because the issuance of new credit is intimately tied to the availability of cheap energy. A plunging oil price and bankrupt drillers is exactly what you would expect at Peak Oil. http://www.economic-undertow.com/2015/02/09/fatal-ignorance/ http://www.economic-undertow.com/2015/02/09/fatal-ignorance/

PopsiclePete 12y ago
Know what peak oil and nuclear fusion have in common? They're always 10 years away! I've been hearing this "doom and gloom" since the mid-90's. We're always 10 years away from a complete collapse of our oil-based economy and a Mad Max style dystopian society. We were 10 years away in 1994, we were 10 years away in 2004, and then in 2014. I will bet you $10 right now that you'll declare in 2024 that Peak Oil is going to hit us in 2034. And now we have cheaper gas than we've had in a while, and we're producing more and more. Why would "I" (average Joe Blow) believe the doom-and-gloom crowd, ever? Even if "Peak oil" was literally next Wednesday, fewer and fewer people will listen.
- a8da6b0c91d 12y ago
  Peak Oil won't trigger a Mad Max dystopia. It will trigger pretty much what we've been seeing lately: ongoing financial crises and instability, deflationary pressures, growing unemployment, low/zero growth, etc. Please review the link above. You just have to look at oil production costs to know something has changed and continues to change. It's just not the 90s anymore. Many, many drillers need $80 oil to be solvent. The global economy can't afford oil that expensive. Every time it climbs up towards $100 we get a big economic slowdown and oil price crash to much lower levels.
  - jl6 12y ago
    Do you have any Peak Oil articles from, say, 10 years ago that predict those four effects?

PopsiclePete 12y ago

Know what peak oil and nuclear fusion have in common? They're always 10 years away! I've been hearing this "doom and gloom" since the mid-90's. We're always 10 years away from a complete collapse of our oil-based economy and a Mad Max style dystopian society. We were 10 years away in 1994, we were 10 years away in 2004, and then in 2014. I will bet you $10 right now that you'll declare in 2024 that Peak Oil is going to hit us in 2034. And now we have cheaper gas than we've had in a while, and we're producing more and more. Why would "I" (average Joe Blow) believe the doom-and-gloom crowd, ever? Even if "Peak oil" was literally next Wednesday, fewer and fewer people will listen.

a8da6b0c91d 12y ago
Peak Oil won't trigger a Mad Max dystopia. It will trigger pretty much what we've been seeing lately: ongoing financial crises and instability, deflationary pressures, growing unemployment, low/zero growth, etc. Please review the link above. You just have to look at oil production costs to know something has changed and continues to change. It's just not the 90s anymore. Many, many drillers need $80 oil to be solvent. The global economy can't afford oil that expensive. Every time it climbs up towards $100 we get a big economic slowdown and oil price crash to much lower levels.
- jl6 12y ago
  Do you have any Peak Oil articles from, say, 10 years ago that predict those four effects?