Debt Rattle Jul 1 2014: Lowest Rates in 500 Years, Oil Shortages in 10 Years
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G. G. Bain Gloria Swanson in New York Sep 4, 1924 We all know that interest rates are at an ultra low level, whether it’s the rate on our savings acco
[See the full post at: Debt Rattle Jul 1 2014: Lowest Rates in 500 Years, Oil Shortages in 10 Years]Oil is about the cost of the marginal barrel. I have looked at the Bakken table put out by the State of North Dakota for a while now and the ratio of marginal cost to marginal revenue is about 20:1. Maybe someone will tell me this is not so, but in the meantime I cannot see how anyone can think the shale boom won’t be over within a few short years.
Ken,
As stated, it all takes place on the margin, and some “incident” in the ME could sure disrupt flows enough that they take years to stabilize. For that matter, another war could consume all marginal production in short order.
They run on diesel. Lots of it. In fact, it takes ever increasing quantities of oil to defend supplies of it. Who knows, maybe even some day 1.1 barrels to secure 1, using political logic.
Ask for a .gov solution, and it will turn to it’s military, who’s job it is to kill people and break things. Very energy inefficient.
@ Raúl
I’m a lurker making the plunge…into the deep end of the pool.
I feel humbled by the intelligence of this, oh so worthy, counter to the machine.
Thank you for this most relevant blog; clarity in the long night of fog…Speaking of those poor penguins:
https://dailycaller.com/2014/06/30/noaa-quietly-reinstates-july-1936-as-the-hottest-month-on-record/“The National Oceanic and Atmospheric Administration, criticized for manipulating temperature records to create a warming trend, has now been caught warming the past and cooling the present.”
NOAA, amongst many institutions of “science” again (and again!) caught doctoring data in order to make climate appear warmer now. How many incidents do we need to catch–like the CRU at East Anglia–before we stop trusting these guys? Are we–or more importantly, are real scientists–going to impose actual sanctions, real consequences to their peers who fabricate data to achieve a pre-conceived outcome? That is to say, those who are against everything science actually stands for: truth, testing hypotheses, peer review?
Anyone who bends or fabricates data are not scientists. They’re charlatains, con men, voodoo priests waving buffalo rattles saying “booga booga” to collect a few loose bucks of your trusting money. Any institution who supports this behavior should be shunned and discredited entirely as not worthy of inheriting the mantle of Western Culture, our search for truth, our standards of fairness and inquiry.
If data is just whatever we want it to be, that minute, that’s just the madness of psychotics, not “science”, not “history”, not “law”, and Western Culture itself is lost.
We saw this in the French Revolution where “reality”, “Guilt or Innocence” was simply what someone convinced the crowd at the time. Take this seriously, people! It was called the “Reign of Terror” for a Very. Good. Reason.
PS, I won’t even go into the recent punk’d of having 120 computer-generated papers of 100% gibberish published in science journals. No one read –much less peer reviewed — a thing. https://www.nature.com/news/publishers-withdraw-more-than-120-gibberish-papers-1.14763
How embarassed, how useless, how apparent does this have to get? Can I make Oxygen the 43rd element just by publishing it? If you believe in science — or “reality” for that matter, you have to stand up to this kind of thing!
Ilargi,
There’s nothing sad about Emperor Penguin article you featured. The same people who couldn’t predict their boats would get stuck in polar ice a few months back are making ice predictions for year 2100 and beyond. Who’s kidding who?My two favorite lines:
“Dynamics differ between colonies, but “the global population is projected to have declined by at least 19 per cent,” after growing 10 per cent up to 2048, it added.”
“In fact, the Ross Sea penguin population will continue to grow until 2100, after which the trend will reverse.”
This, from the same agenda-minded “scientists” who quietly and routinely “adjust” their data, and who just got caught at it yet again.
https://market-ticker.org/akcs-www?post=229150
Why My Approach Is (By Far) The Best Approach
I do worry about the timing of imminent debt collapse (that never seems to arrive), and about the timing of decreasing EROEI in a post-peak world (that continues to remain awash in oil). Isn’t it a bit early to start lamenting feeble predictions of penguin populations fifty or a hundred years from now?
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