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The Burden of Denial
The Burden of Denial
It occurred to me the other day that quite a few of the odder features of contemporary American culture make perfect sense if you assume that everybody knows exactly what’s wrong and what’s coming as our society rushes, pedal to the metal, toward its face-first collision with the brick wall of the future. It’s not that they don’t get it; they get it all too clearly, and they just wish that those of us on the fringes would quit reminding them of the imminent impact, so they can spend whatever time they’ve got left in as close to a state of blissful indifference as they can possibly manage.
I grant that this realization probably had a lot to do with the context in which it came to me. I was sitting in a restaurant, as it happens, with a vanload of fellow Freemasons. We’d carpooled down to Baltimore, some of us to receive one of the higher degrees of Masonry and the rest to help with the ritual work, and we stopped for dinner on the way back home. I’ll spare you the name of the place we went; it was one of those currently fashionable beer-and-burger joints where the waitresses have all been outfitted with skirts almost long enough to cover their underwear, bare midriffs, and the sort of push-up bras that made them look uncomfortably like inflatable dolls—an impression that their too obviously scripted jiggle-and-smile routines did nothing to dispell.
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The One Way Forward
The One Way Forward
All things considered, 2015 just isn’t shaping up to be a good year for believers in business as usual. Since last week’s post here on The Archdruid Report, the anti-austerity party Syriza has swept the Greek elections, to the enthusiastic cheers of similar parties all over Europe and the discomfiture of the Brussels hierarchy. The latter have no one to blame for this turn of events but themselves; for more than a decade now, EU policies have effectively put sheltering banks and bondholders from the healthy discipline of the market ahead of all other considerations, including the economic survival of entire nations. It should be no surprise to anyone that this wasn’t an approach with a long shelf life.
Meanwhile, the fracking bust continues unabated. The number of drilling rigs at work in American oilfields continues to drop vertically from week to week, layoffs in the nation’s various oil patches are picking up speed, and the price of oil remains down at levels that make further fracking a welcome mat for the local bankruptcy judge. Those media pundits who are still talking the fracking industry’s book keep insisting that the dropping price of oil proves that they were right and those dratted heretics who talk of peak oil must be wrong, but somehow those pundits never get around to explaining why iron ore, copper, and most other major commodities are dropping in price even faster than crude oil, nor why demand for petroleum products here in the US has been declining steadily as well.
The fact of the matter is that an industrial economy built to run on cheap conventional oil can’t run on expensive oil for long without running itself into the ground. Since 2008, the world’s industrial nations have tried to make up the difference by flooding their economies with cheap credit, in the hope that this would somehow make up for the sharply increased amounts of real wealth that have had to be diverted from other purposes into the struggle to keep liquid fuels flowing at their peak levels. Now, though, the laws of economics have called their bluff; the wheels are coming off one national economy after another, and the price of oil (and all those other commodities) has dropped to levels that won’t cover the costs of fracked oil, tar sands, and the like, because all those frantic attempts to externalize the costs of energy production just meant that the whole global economy took the hit.
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