There would be calls for impeachment and the likelihood that any legislation could be passed that might be helpful in preparing for or mitigating the consequences of global oil depletion for the time being are zilch. The reason of course is that the evidence for peak oil must first become so overwhelming that even the simplest amongst can understand that there is no cheap and easy way out of the problem
Posts Tagged ‘oil cost’
What Oil Price can America Really Afford?
If the health of the economy matters, then the administration should take note that oil, at the time of writing, stands around $70 and that the recession threshold, by the books, is $80. Oil prices do not have to rally very much to reach unsustainable levels for the US economy.
Whats next for Peak Oil
Isn’t that a question, though….
The Peak Oil story was never about running out of oil. It was about the collapse of complex systems in a world economy faced by the prospect of no further oil-fueled growth. It was something of a shock to many that the first complex system to fail would be banking, but the process is obvious: no more growth means no more ability to pay interest on credit… end of story, as Tony Soprano used to say.
There was a popular theory among Peak Oilers the last decade that the world would enter a
