Thursday, April 17, 2008

The Debts of the World: Peak Credit and Peak Oil

peak oil has already happened (2006-07). Peak credit is next. Without cheap oil there will be no cheap credit.

Without that, the population will decline through war and famine. So in the end Malthus was right. Oil will start a catastrophic decline around 2010-11, called the "supply cliff". This happens to individual fields, oil producing regions and nations. Earth as a whole will be no different. Globalisation and all its attendant "isms" will end.

Cheap oil allows machine agriculture, plastics, fertilizers and our socioeconomic ideologies. Declining expensive oil terminates it all. Thats simple math.


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