Monday, 22 March 2010

Uh-oh, guys - no need to worry, right? Right?!

First, FEASTA releases a report titled 'Tipping Point: Near-Term Implications of a Peak in Global Oil Production' earlier this month. It basically states:
  • Peak Oil will reduce economic growth
  • Our money system is based on credit
  • Reduced economic growth cannot service the debt load
  • Globalized Just-on-Time supply chains are highly vulnerable to supply shocks
  • Global trade rests on cheap and uninterrupted oil supply
  • Our IT infra is dependent on constant resupply - interruptions are bad
  • Food system is fossil fuel dependent throughout
  • Initial Peak Oil collapse will start by money starting to chase real goods
  • There is at least 16 times as much funny money as there is goods or services in the world
  • Things fall apart; the center cannot hold
In short. We are fukked.

But not to worry, politicians to the rescue!

UK Energy minister, Lord Hunt himself, is meeting up with industrialists in London to quell fears about oil supply disruptions.

Thank god for the smart politicians and their tremendous foresight! Phew! All is saved. God save the Queen.

The countdown has begun...