It doesn’t help that Nixon canceled the 1944 Bretton Woods economic agreement and Bill Clinton abolished the Glass Steagall Act which had required a responsible banking structure; commercial banks had to be separate from investment banks and were not allowed to gamble with deposits, pension funds etc. Hundreds of trillions of imagined dollars, more than what the world’s economy and capital infrastructure are worth, are on the books of a few banks now essentially as an expression of a modern feudal status. This feudal class of bank executives that managed to secure about half of total bail out funds for personal benefits, in order to distinguish itself requires impoverished and debt enslaved masses. Free trade in the banking sector represents 21. century Letters of Marque to the banks, royal authority for robbery. The result has been a focus shift, a harmful influence on the economy for many years now. There is a neglect of investment into the economy, infrastructure and into sustainable productivity by banks and in extension by governments. Real money and monopoly money don’t mix, that is one problem of the bail out heist which in the meantime has swollen 12 fold from 700 billions to 8.5 trillions in the US alone. US government debt is doubling as we speak, in a vital sense tying the hands of the Obama administration to fix anything as economist Michael Hudson but also the writer, researcher and former investment banker Nomi Prins point out. In combination with the industrial stuff of life, oil, diminishing, a perfect, global storm of destruction has broken loose.
Business operations are complicated and cant just come and go with the moody speed of an extreme crude price volatility; even a lot of oxygen will not do much for a dead patient. The shrinking flow of crude oil had stopped the flow of inflated capital.
Sounds like a straightforward reason why Wall Street was caught with their pants down right after the Peak Oil generated crude oil prize shock and not some other time?
The all important sweet, light crude comes from 400 big, tired fields producing 75% of all oil and representing only 1% of all fields and they are on line since the 70s and from before. After all, the peak of new oil field discovery was in the year JFK was assassinated, 1963, a very long time ago. Between then and now there lies a long, steep and hardened slope of decline for total new oil discoveries. There is no recovery for a national oil economy and not for a global oil economy. Economic activity will feel in a short coupled way the boa constrictor like tightening grip of a more and more shrinking oil production the instant it wants to take a breath. Then the crude prize will spike way up and throttle economic activity.
Crucial time was wasted since Reaganomics killed an already fledgling green energy conversion in the early 80s which we are reminded to by Bushs and Harpers free trade platitudes at the 2008 Doha trade talks and now at the APEC meeting in Lima; At this point Harpers globalization talk scares investors, Reagan had more listeners for his fantasy ideas. Lets all give our heads a shake, walk up a mountain, or do whatever it takes to think it over.
A good time to remember the journalist Edward R. Murrow who fought ideologues and censorship in the McCarthy era and who was known for his trade mark closing line on the CBS evening news casts: Good Night and Good Luck.
Duration : 0:0:3
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Are we running out? Marko’s take on world oil production and reserves. Part 1 of 2.
Duration : 0:4:41
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Legendary Texas oilman and chair of BP Capital, T. Boone Pickens, holds an impromptu video question and answer session at ASPO Houston with Global Public Media’s Julian Darley and other journalists. Pickens talks about the peaking of world oil production, which he says occurred in 2006. View the entire video interview at GlobalPublicMedia.com
Duration : 0:1:3
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http://localfuture.org
How long can this global oil supply level be maintained? When will the decline in oil supply
begin? How will that impact already rising gasoline prices, oil prices, food prices and the
struggling state of the world economy?
To address shrinking fossil fuel supplies, increasing CO2 emissions, and rising global inequity
we need to make immediate and drastic cuts to our energy use. Learn about viable curtailment
strategies for food, housing, and transportation, why most “sustainable” and “green” techniques
are inadequate, and how we can create cooperative low-energy communities to survive.
Pat Murphy is the Executive Director of Community Solutions in Yellow Springs, Ohio, co-writer
and co-producer of the film, “The Power of Community: How Cuba Survived Peak Oil” (2006)
and author of the forthcoming book “Plan C: Community Survival Strategies for Peak Oil and
Climate Change.”
The International Conference on Peak Oil and Climate Change: Paths to Sustainability
explores the root cause of rising gas prices, global warming, biodiversity loss and other
indicators of global unsustainability.
http://localfuture.org
Duration : 0:10:0
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Are we running out? Marko’s take on world oil production and reserves. Part 2 of 2.
Duration : 0:4:16
Read the rest of this entry »
http://localfuture.org
How long can this global oil supply level be maintained? When will the decline in oil supply begin? How will that impact already rising gasoline prices, oil prices, food prices and the struggling state of the world economy?
To address shrinking fossil fuel supplies, increasing CO2 emissions, and rising global inequity we need to make immediate and drastic cuts to our energy use. Learn about viable curtailment strategies for food, housing, and transportation, why most “sustainable” and “green” techniques are inadequate, and how we can create cooperative low-energy communities to survive.
Pat Murphy is the Executive Director of Community Solutions in Yellow Springs, Ohio, co-writer and co-producer of the film, “The Power of Community: How Cuba Survived Peak Oil” (2006) and author of the forthcoming book “Plan C: Community Survival Strategies for Peak Oil and Climate Change.”
The International Conference on Peak Oil and Climate Change: Paths to Sustainability explores the root cause of rising gas prices, global warming, biodiversity loss and other indicators of global unsustainability.
http://localfuture.org
Duration : 0:8:58
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When I was little what scared me most was what might be hiding in my closet in the middle of the night. Any monster in my closet has nothing on peak oil O.O So next time your child is upset cause he thinks a monster might be in the closet, just sit him down and explain peak oil. He won’t think the monster so bad anymore.
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. The concept is based on the observed production rates of individual oil wells, and the combined production rate of a field of related oil wells. The aggregate production rate from an oil field over time usually grows exponentially until the rate peaks and then declines—sometimes rapidly—until the field is depleted. This concept is derived from the Hubbert curve, and has been shown to be applicable to the sum of a nations domestic production rate, and is similarly applied to the global rate of petroleum production. Peak oil is often confused with oil depletion; peak oil is the point of maximum production while depletion refers to a period of falling reserves and supply.
http://en.wikipedia.org/wiki/Peak_oil
Duration : 0:9:50
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Gas prices are rising, at this rate, the average price of gasoline in the USA will rise from $4 per gallon to $10 per gallon in less than seven years.
Oil prices are also rising, and if they continue going up at this rate, will be $1,000 per barrel within 10 years.
What is causing gasoline, diesel, propane, fuel oil, petroleum and oil prices to rise so quickly?
The answer is that demand is increasing all over the world, everywhere, but at the same time, world oil supply is NOT increasing. In fact, world oil supply was “stuck” at under 85 million barrels per day for over three years.
We may be at peak oil. The economic impacts we have seen may just be the beginning.
Using his renown “Peak Oil in Five Slides”, Aaron Wissner explains what is going on, and how rising prices are related to stagnant oil supply.
For more videos, visit:
http://localfuture.org
This video comes from “The International Conference on Peak Oil and Climate Change: Paths to Sustainability”.
http://sustainabilityconference.org
Feel free to copy and share with others.
Duration : 0:2:48
Read the rest of this entry »
http://localfuture.org
How long can this global oil supply level be maintained? When will the decline in oil supply begin? How will that impact already rising gasoline prices, oil prices, food prices and the struggling state of the world economy?
To address shrinking fossil fuel supplies, increasing CO2 emissions, and rising global inequity we need to make immediate and drastic cuts to our energy use. Learn about viable curtailment strategies for food, housing, and transportation, why most “sustainable” and “green” techniques are inadequate, and how we can create cooperative low-energy communities to survive.
Pat Murphy is the Executive Director of Community Solutions in Yellow Springs, Ohio, co-writer and co-producer of the film, “The Power of Community: How Cuba Survived Peak Oil” (2006) and author of the forthcoming book “Plan C: Community Survival Strategies for Peak Oil and Climate Change.”
The International Conference on Peak Oil and Climate Change: Paths to Sustainability explores the root cause of rising gas prices, global warming, biodiversity loss and other indicators of global unsustainability.
http://localfuture.org
Duration : 0:9:59
Read the rest of this entry »
http://localfuture.org
How long can this global oil supply level be maintained? When will the decline in oil supply begin? How will that impact already rising gasoline prices, oil prices, food prices and the struggling state of the world economy?
To address shrinking fossil fuel supplies, increasing CO2 emissions, and rising global inequity we need to make immediate and drastic cuts to our energy use. Learn about viable curtailment strategies for food, housing, and transportation, why most “sustainable” and “green” techniques are inadequate, and how we can create cooperative low-energy communities to survive.
Pat Murphy is the Executive Director of Community Solutions in Yellow Springs, Ohio, co-writer and co-producer of the film, “The Power of Community: How Cuba Survived Peak Oil” (2006) and author of the forthcoming book “Plan C: Community Survival Strategies for Peak Oil and Climate Change.”
The International Conference on Peak Oil and Climate Change: Paths to Sustainability explores the root cause of rising gas prices, global warming, biodiversity loss and other indicators of global unsustainability.
http://localfuture.org
Duration : 0:10:0
Read the rest of this entry »