If you think “I” have a bearish view of the economy at the present time, then you should watch this video interview of University of Arizona Professor, Guy R. McPherson. He makes me look like an uber-bull.
As so much of American’s daily existence depends on cheap oil, Dr. McPherson predicts peak oil spells the end of civilization. But, if it’s not already too late, perhaps it will prevent the extinction of our species. According to his Arizona Republic viewpoint:
The world peaked at 74.3 million barrels per day in May 2005. The two-year decline to 73.2 million barrels per day produced a doubling of the price of crude. Later this year, we fall off the oil-supply cliff, with global supply plummeting below 70 million barrels/day. Oil at merely $100 per barrel will seem like the good old days.
Within a decade, we’ll be staring down the barrel of a crisis: Oil at $400 per barrel brings down the American Empire, the project of globalization and water coming through the taps. Never mind happy motoring through the never-ending suburbs in the Valley of the Sun. In a decade, unemployment will be approaching 100 percent, inflation will be running at 1,000 percent and central heating will be a pipe dream.
He makes a very logical case for his opinion. It’s scary in that perhaps anything’s possible, but weirdly amusing in it’s presentation. I’m sure that most people think he’s crazy, but I know everyone hopes he’s wrong.
Comments 1
If this concept disturbs or interests you, then if you haven’t already seen the movie, I’d suggest either buying or renting Syriana. It’s a great movie, and one that mirrors exactly what is happening with oil and politics as we speak.
Posted 17 Apr 2008 at 7:27 am ¶Post a Comment