Peak Oil in Australia and Risks in Monopoly
ABC in Australia just published an investigate report into Peak Oil. It is quite interesting in that even the optimists are admitting that we've got to get serious. They also all seem to agree that neither technology nor the market will save us.
Here's the link to the video: http://abc.net.au/4corners/special_eds/20060710/
Colin Campbell suspects we will have a series of ever worse recessions as the oil price rapidly rises and crushes demand. Doesn't sound very encouraging. The Saudi fellow seemed to be suggesting that they wouldn't produce to meet demand, because if they did, we would just have a worse collapse later on. The interview with Robert Hirsch was interesting. He talked a lot about how we needed a 20 year head start to get on track. As far as videos go, I think this one was very good, although I think the End of Suburbia is a good prequel to get folks onboard with the thinking.
Overall, worth the time to watch, although I also recommend reading/viewing the remarks by Bernanke and Greenspan last month. My summation is that we are at very high risk in the USA of having a stock market crash (or correction) and a recession (or depression) due to Peak Oil and rising oil prices. My hope is that the inflation won't be so fast that tons of folks get trapped in mortgages and that the banking/financial system collapses.
On the realistic side, I think this is entirely plausible, and everyone would be well served by recognizing the risk, and to take action to insulate themselves from some very unpleasent possibilities. The pitfall in pointing out this risk is that some folks might become complacent if nothing transpires.
I learned about Risk from playing the game Monopoly. I know that there is a chance that I'll land on Boardwalk with its $2000 hotel. Each time around, I see recognize that risk. I realize that I have to be able to have enough money to survive an unlucky role just in order to stay in the game. It doesn't matter if I don't land there this time, or next time, or next time... The risk is still there, and the odds that I'll go five more rounds without landing on Boardwalk are pretty slim.
Peak Oil is like this. There are risks, and knowing that there are risks, and preparing for them, is the only prudent thing to do. Ignoring the risks is accepting defeat and giving up control over one's own life. For my part, I'm trying to help others recognize that there is this huge risk out there, with very severe consequences, and it makes complete sense to be learning about those risks, and to be preparing for the possibility. There is no insurance against Peak Oil. The only insurance is our individual intellect and preparation.
Here's the link to the video: http://abc.net.au/4corners/special_eds/20060710/
Colin Campbell suspects we will have a series of ever worse recessions as the oil price rapidly rises and crushes demand. Doesn't sound very encouraging. The Saudi fellow seemed to be suggesting that they wouldn't produce to meet demand, because if they did, we would just have a worse collapse later on. The interview with Robert Hirsch was interesting. He talked a lot about how we needed a 20 year head start to get on track. As far as videos go, I think this one was very good, although I think the End of Suburbia is a good prequel to get folks onboard with the thinking.
Overall, worth the time to watch, although I also recommend reading/viewing the remarks by Bernanke and Greenspan last month. My summation is that we are at very high risk in the USA of having a stock market crash (or correction) and a recession (or depression) due to Peak Oil and rising oil prices. My hope is that the inflation won't be so fast that tons of folks get trapped in mortgages and that the banking/financial system collapses.
On the realistic side, I think this is entirely plausible, and everyone would be well served by recognizing the risk, and to take action to insulate themselves from some very unpleasent possibilities. The pitfall in pointing out this risk is that some folks might become complacent if nothing transpires.
I learned about Risk from playing the game Monopoly. I know that there is a chance that I'll land on Boardwalk with its $2000 hotel. Each time around, I see recognize that risk. I realize that I have to be able to have enough money to survive an unlucky role just in order to stay in the game. It doesn't matter if I don't land there this time, or next time, or next time... The risk is still there, and the odds that I'll go five more rounds without landing on Boardwalk are pretty slim.
Peak Oil is like this. There are risks, and knowing that there are risks, and preparing for them, is the only prudent thing to do. Ignoring the risks is accepting defeat and giving up control over one's own life. For my part, I'm trying to help others recognize that there is this huge risk out there, with very severe consequences, and it makes complete sense to be learning about those risks, and to be preparing for the possibility. There is no insurance against Peak Oil. The only insurance is our individual intellect and preparation.