The Peak Oil Crisis: Is $50 Oil in the Offing?

[4dsc]

Another great article by Mr Whipple.

With rare exceptions, more than sporadic discussion of further economic decline is simply not tolerated in our mainstream newspapers, the financial press, and cable networks. For Americans, the middle name of our civilization is growth - in jobs, population, economic production, and more importantly personal and public wealth. To imply that the future, both immediate and distant, has anything in store but a return to endless economic growth is the worst kind of heresy. In some circles, the mantra of growth at any costs approaches an intensity unknown outside of religious fanaticism.

http://www.fcnp.com/commentary/national/7360-the-peak-oil-crisis-is-50-oil-in-the-offing.html

Too many people still in denial about their own future because they cannot and simply will not change until its too late. Well change is coming and its not going to be pretty in the coming decades.

[rrneck]

1. Capitalism and the people who believe in it

will not have the answers we need when we need them. Without some way to deal with cultural and natural environmental changes a society cannot survive. It will either tear itself apart or be overwhelmed by another more adaptable society.

Those who have the least incentive to change have the most power.

Hang on, it's gonna get ugly.

[billlll]

2. EXXON BP are our jobs hereabouts

How will Peake affect profits of Big Oil?

[4dsc]

5. The last thing you should worry about is Big oil profits

[pscot]

3. No

[Terry in Austin]

4. $50 oil? Half right, anyway -nt

[Kolesar]

6. Petro prices are going to be a "governor" of economic activity from now on

When economic activity begins to grow, the demand and price for petroleum will grow to a point where prices will begin to cut into consumers' discretionary spending. Consumers will spend less and BANG! Back into recession.

I think that is what happened leading up to the banking-collapse two years ago.