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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End? -- Ignore unavailable to you. Want to Upgrade?

To: kryptonic6 who wrote (100)	2/19/2005 9:42:18 PM
From: Raymond Duray	Read Replies (3) \| Respond to of 1183

Hi Jesse, Re: The age of constantly increasing energy availability (and thus our growth-based economic system) literally ends the day the peak oil event occurs. "Ends?" Ouch, that has a note of finality about it. When the peak arrives and the U.S. economy runs out of gas (sorry, I couldn't resist) it isn't as if the spigot is turned off. What happens is that there is a roll-over. We can study history and see the effect. Because the U.S. domestic producers hit their peak production in 1970, by 1973 OPEC had some leverage over the U.S. domestic market. And with the willing connivance of the oil companies (and probably the Nixon White House) artificial shortages were created in the U.S. retail fuel sector. It was only years later that I found out that as fist-fights and worse were breaking out in long gas lines across America, that there actually was a flotilla of oil laden tankers loitering off-shore in the Gulf of Mexico, just beyond the horizon where normal citizens might spot this fleet. Of course, a Texas Air National Guard pilot like George Bush would have has full access to inspect this fleet of fraud. But we were never at any real risk of running out of gasoline. The public was told that, and they swallowed it. And shortly thereafter Senators who had been blocking the development of the Alyeska Oil Pipeline were subdued and the Prudhoe Bay discovery of 1969 was brought on line within a decade. Ahhhaha! No shortage, no risk of "running out" of crude oil, but a whole lot of behind-the-scenes manipulation and chicanery played out when the Texas Railroad Commission granted 100% production rates to all producers.....