For months we have been talking about the housing and finance crisis. Let us get back to the matter at hand - The American Energy Crisis.
We have truly stupid, nasty, disgusting people representing us.
Oh, well.
Mentatt (at) yahoo (d0t) com
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Congresspeople do what we elect them to do -- and as a career bureaucrat (put that bat down!), I would have to suggest that the 415 pages of the bailout bill may contain a lot of little, nothing, non-controversial sections that just bulked up the document when you had to put everything into words. A rational evaluation of the bill might suggest this.
Right back to the energy crisis...
At the recent ASPO conference, Matt Simmons is now predicting 15-20% yearly depletion rates starting in a few years. Others were predicting 7-10% yearly depletion rates.
This would be geological depletion. The Export Land(ELM)principles of Jeffrey Brown would apply on top of the basic depletion rate as producing nations cut back exports.
This means the US will be effectively out of imported oil at 5,000,000,000bbls/year by middle of the next decade. If Hirsch is correct that 1% of oil reduction equals 1% economic output, then the US economy will be down by 70% by mid-decade.
Now what,how,where to we as individuals with families do that would have any kind of lasting stability ahead?
It'd be nice to be able to walk away from this, but how we manage the contraction is just as important as the contraction itself (or the lack of, if these people are successful).
It's easy to give lip service to a concept like libertarianism and a hell of a lot harder to live by that concept.
Don't tell me, show me.
We have the choice bewteen two camps of authoritarians now.
Communists or Fascists.
Take your pick.
>It'd be nice to be able to walk away from this, but how we manage the contraction is just as important as the contraction itself<
There is no historical precedent available for a collapse of such magnitude and complexity. And with such vulnerability in the area of energy ie petroleum is the key commmodity and the lifeblood of industrial civilization.
It's looking like it's going to be every man for himself. Gah
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