According to the extremely conservative International Energy Agency (IEA), we've passed the world peak for conventional oil (in 2006, they say). In a stunning nod to reality, even the New York Times agrees. In a bizarre case of committee-style cognitive…
Passing the world oil peak has had, and doubtless will continue to have, relatively little impact on the long-term price of gasoline. The economic implications of getting through the first half of the Oil Age have been much more significant, a trend that seems likely to continue until the collapse is complete.
We’ve seen 106 banks fail, so far, including some of the monsters. Others were perceived by the Obama adminstration as too big to fail, so we tacked on a series of taxes to future generations of Americans. A majority of those taxes will never be paid because the whole country is bankrupt (and not merely financially). Regional banks are suffering, too. We’ve seen house prices plummet under the weight of massive foreclosures and a bubble pumped up by the likes of Greenspan and Bernanke. We’ve seen entire airlines disappear, along with a plethora of other companies. The nation’s largest car company was socialized when we the people took ownership. (Against our wishes, of course. Isn’t faux democracy great?) Unemployment has risen, and continues to rise even as the Obummer administration throws massive fiat currency at every enterprise they deem worthy (expectedly excluding you and me). Suddenly, shopping at Wal-Mart is all the rage because, despite lies from the federal government, prices continue to rise for the average consumer.
I spent much of my afternoon participating in an exercise in mental masturbation at the local offices of the U.S. Fish & Wildlife Service. We discussed the latest projections for build-out of the suburban area around Tucson within 100 years, with significant construction activity to begin in 20 years. Fortunately, we’ll be well into the post-industrial stone age by that time. But it’s a little disappointing when even a majority of the “environmentalists” in the room think we’re stealing a huge victory from developers by limiting paved surfaces to merely half the Tucson basin. We just keep trying to sustain the unsustainable suburbanization of the desert southwest, long after it’s clearly failed as a viable living arrangement for the entire industrialized world.
I managed to tolerate the demoralizing intellectual clusterfuck only because I’d received a bit of good news immediately before the meeting began. The local morning daily declined to run my latest op-ed, but the local counter-culture weekly rag will be running it within the next few weeks. When they do, I’ll post a link to the piece at my “News” page. You get to see the latest draft before the masses. For regular visitors to this blog, there’s nothing new here. I’m just writing for one of the primary reasons Orwell wrote: sheer egoism. Hey, if it was good enough for him ….
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I appreciate the sentiments, expressed on and off the blog, by those who asked me to come back. As I’ve come to expect, you’re kind. You give me yet another reason to slog on, through the fog of misery shrouding the empire.