Yes I agree with the more balanced posts above, how oil got there is largely irrelevant. So yes trying to educate people of that is a low EROEI in itself.
Apologies for me taking the bait and engaging with those who are unwilling to reason with evidenced based logic.
What really matters to us all going forward is the net energy available to society of the remaining recoverable reserves and the impact to the planet in burning them.
https://www.theguardian.com/world/2018/oct/28/jair-bolsonaro-wins-brazil…
I’ve been wondering how long it will take the European Latin countries to follow the same fate as many of those in Latin America.
Right on cue after Charles’ recent piece, I see the UK’s cash-drop-for-the-masses has arrived (source: www.telegraph.co.uk)
“My humble opinion is that day is still a good 20-30 years from now.”
wow, you are sure optimistic!
brushhog wrote:
The US government BORROWS every dollar that it spends and in fact, EVERY dollar is borrowed into existence with the promise to repay more in the future. No, they cannot simply "print", as the value of the dollar is tied to the 'full faith and CREDIT" of the US government and their ability to repay at a later date.
locksmithuk wrote:
Right on cue after Charles' recent piece, I see the UK's cash-drop-for-the-masses has arrived (source: www.telegraph.co.uk)
https://www.podbean.com/media/share/pb-73e34-9d72e2
The Global Economy’s Growing Fragility
Dr. Rasmus reviews the current state of the global economy, discussing sectors where it’s slowing and growing financially more fragile. Quotes from JM Morgan, Forbes, Moody’s, Merrill Lynch surveys, IMF, and even other mainstream economists all predict a global recession coming 2020. Rasmus explains why it may be sooner, in late 2019. In Europe, the factors of Brexit, Italy, Euro banks weakness, ECB policy and US-Euro trade suggest a weakening further beyond a Euro slowdown already in progress. Emerging markets problems with currency decline, capital flight, and central bank rate hikes are not going away and portend spreading and deepening recessions. The IMF’s EME bailout problem. A review of China and So. Korea efforts to re-stimulate their economies. China’s recent 6.5% GDP and problems with 30% stock market contraction underway as property and asset markets’ prices fall. China’s further problems with $6T in business debt, its trade dispute with US impact, slowing real investment as it crackdowns on shadow banks and speculators. China’s recent monetary stimulus and coming fiscal stimulus via tax cuts. Rasmus concludes with an early view of US GDP, being driven mostly by defense spending under Trump; how tax cuts aren’t ‘paying for themselves’; and a quick listing of weak sectors of US economy about to grow weaker.
We’re saved. There’s a rumor afoot that China and the United States are discussing trade. All’s well people! Buy moar stawks!!!
shakes head
Doug: Be careful about what’s posted on Wiki. While I am personally not familiar with McCaffrey, I am suspicious when Wiki labels him a crank and conspiracy theorist. They have said the same about G. Edward Griffin and his Creature from Jekyl Island, though after 20 + years no one has credibly disputed or disproven what he wrote. If Wiki doesn’t like what you post, it gets deleted or changed. They are well known to marginalize those who they ( their editors) don’t agree with.
Wikipedia and other online platforms obviously do have working “memory holes”. That’s the irony of the internet you know; electrons are such mobile entities that even though we can access ideas in a flash, those same thoughts can transform or vanish in a nano second. Ponder the thought that if only all of us depended on the internet for all our knowledge what thought shaping could be achieved.
David’s on fire in this CNBC interview.