Tag peak oil

Pissing In Your Cereal

After spending the last 30 years cajoling and coercing everybody in America (and Europe) to give up cash and curtail check-writing in favor of using debit cards to pay for everything, now JPMorgan Chase and the other giant banks are preparing to screw us all over by instituting $50 transaction limits on debit cards. Now they would like to force everyone to use credit cards, so that they can increase their own per-transaction profit as well as nail everybody on the inevitable PMITA-level interest rates when people don’t pay off the balances. Come the revolution, these fuckers need to be first against the wall.

The ubiquitous Johann Hari really wants to spoil your weekend with this piece in yesterday’s Huffington Post on the coming economic tsunami created by higher oil and food prices. Like the man says, if anyone had actually listened to Jimmy Carter back in 1978, we might not be as completely fucked over as we are now, but that ship has long since sailed.

Wanna see how politics really works? Here’s a little video of Massachusetts Senator Scott Brown fluffing Tea Party-funder and libertarian douchebag David Koch at a little political event:

And a little editorial cartoon just to liven things up:

Have a great weekend!

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Capitalism Destroys Everything, Chapter #3549

Hey, whaddayaknow? Those financial wizards at AIG have asked for MORE money so they do things like blow a third of a million dollars on yet ANOTHER weekend resort getaway for their bigwigs. That’s almost a buck and a half for every American who filed for unemployment in October. And now we have to bail out the auto industry for their inability to adapt to economic reality, too! They’re TOO BIG TO FAIL!!

Sheesh.

Well, if there’s anyone left who wants to quibble with my motto, “Capitalism Destroys Everything”, I’ll pause for a show of hands.

Thought so.

Here’s an article from a website that focuses on issues related to “Peak Oil” called Energy Bulletin from a fellow named Jerry Silberman. He says our present economic crisis may well be “The Last Recession” ever, because capitalism has blown itself out for good. A quick pull quote:

One thing that may make this transition easier is that, whether we like it or not, this is the final recession of this system. Along with the peak of oil production, now visible in our rear view mirror, capitalist expansion is done. The slope down will not be uniform, there will be upticks along the way, and regional variations, but the peak is past. There is only one way to go, and it’s down.

Now, say what you will about the Peak Oil gloom-and-doomsayers, but he makes several very good points about diminishing resources across the board (not just petroleum) as disincentives to invest, causing a spiral effect. But his second point is that even though the model of ever-more-profitable-at-any-cost capitalism has reached its conclusion, it may be possible to use this opportunity for a model of sustainability, where growth is not always the most desirable outcome:

Shift our values to a sustainable model, where growth is not a primary goal or an unqualified good. Let’s make our “investment” decisions based on what will be sufficient to meet our human needs for physical security, social justice, and cultural enrichment. Central to this model is the determination that all our strategies, and the goals we seek, must be within the limits of our resources such that projected over the uncountable generations, they must not deprive us of the ability to sufficiently meet our basic human needs. As outlined above, the principles and practices of capitalism cannot deliver this kind of model.

All the bullshit from the Republicans about Barack Obama being a “socialist” or a “Marxist” notwithstanding, Obama does have the opportunity to sow some of the seeds that need to be planted now to make this transition out of mass capitalism manageable, and his stated intentions with regard to energy policy and national infrastructure are on the right track, but throwing trillions of dollars at industries that have destroyed themselves with absolutely no guarantee that said bailouts will have any positive effect except to allow big executive bonuses and spa weekends is getting off on the wrong foot.

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Good News

Let’s cheer up a little bit, shall we?

For years, scientists have been warning about the possibility of the Earth’s magnetic poles suddenly reversing. Geological data shows that the poles do reverse, and the theory has been that 1) the reversal happens on a reasonably predictable basis and b) it is due to happen again at any time.

This article points to some new data that indicates that pole reversals aren’t as regular or predictable as previously thought so there’s really no hard evidence to suggest that we’re “overdue” or that one is likely to happen any time soon. Also, the magnetic poles constantly move anyway, with little disruption to the planet, and even a flip of polarity would likely be a non-event for most humans.

By now you’ve surely heard the Peak Oil Hypothesis — how the world’s production of oil has peaked, and given known resources and expected increased demand, we should run out of oil in the next 30 years. All the doomsdayers LOVE them some Peak Oil.

The Peak Oil Hypothesis is based on a methodology described by a fellow named M. King Hubbert, who correctly projected in 1956 that domestic oil production in the United States would peak in 1970 and decline thereafter. Depending on who’s telling the story, either the peak has already happened for world oil production, or it’s about to happen soon (2010 being the usual date cited). But despite the widespread discussion, not everyone is convinced Peak Oil is anywhere near at all.

This report given at an energy conference by a former executive of Dutch Shell raised some eyebrows when he told the group that most estimates of existing reserves are over-conservative and do not account for significant improvements in drilling for oil. But his real point was that the climate crisis will force huge reductions in demand long before supply issues can, so worrying about running out of oil is counter-productive. Finding viable alternatives should continue at the forefront of policy and R&D much faster than is being done now, because the timetable of the Hubbert Peak is not in tune with the pace of environmental change. Okay, so maybe that isn’t ENTIRELY good news…

This Beacon Broadside blog post by author Jeremy Adam Smith was a wonderful shot of perspective in the midst of some serious doom-and-gloom news. He’s trying to be realistic about the likelihood of a major economic disaster settling in on us for the long haul, but at the same time looking for reasons to be optimistic about what positive developments could come from such bad times. He talks about spending time with his young son and being reminded that at the individual level the events of the world can still be kept at bay with simple happiness, but his broader point is that the motif for our whole society should be repairing trust. In the context of yesterday’s post about the angry mobs at Sarah Palin rallies, that’s good to keep in mind…as is the monumental size of that task.

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John McCain’s “Tales Of The Bizarro World”

Last weekend, The Presumptive Nominee made more than a few waves by saying that there was a link between childhood vaccines and autism, even though research has shown that there is no link. In fact, recent research suggests genetic causes and heightened awareness resulting in better diagnoses. But, then, Republicans seem to have a very different idea about scientific research in the first place.

Emboldened by their battle-scarred Champion, right-wingers everywhere have decided to go public with their bizarro world scenarios. The Wall Street Journal told us yesterday not to worry about “Peak Oil” and climbing petroleum prices, there’s plenty of oil to go around.

The Drudge Report wants you to know that global warming is just a myth — he links this article which claims that the colder-than-usual January temperatures “wipe out most of the warming recorded over the past 100 years” (though I will note that the author of this article says DailyTech.com has erroneously interpreted the data).

And Discover Magazine doesn’t want you to think you should be one iota less terrified of the H5N1 virus just because hardly anybody has died of it after three years of dire warnings.

In related news, Paris Hilton just won the Nobel Peace Prize, and green monkeys are flying out of my butt!

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