Friday, April 18, 2014
news from around the world
I'm partly responsible for the image at the top.
I need to share the last few lines from a short story written by Gabriel Garcia Marquez, who died yesterday in Mexico City. This is from "No One Writes to the Colonel" and I am reciting it from memory. Accuracy will suffer, but the spirit remains intact:
"Is there any money left?" his wife asked.
The colonel paused, and then said, "No."
"But what will we eat?" his wife asked with fear in her voice.
The colonel thought for a moment, and then answered:
Which seems an appropriate segue into the topic Peak Oil. According to a recent article on OilPrice.com some analysts and investors have concluded that petroleum production peaked in 2005/2006. We're now bouncing along a Hubbert plateau of around 89 million barrels per day. While peak oil does not imply an immediate crisis, I'm almost willing to put money on the high probability of $5 per gallon gasoline within the next five years. It should be noted that "peak oil" actually means "peak cheap oil"
Aside from oil, I'm placing a lot hope in the veracity of the graph above. I'm not sure how the Koch family will be impacted by that. I would imagine that they are diversified, and will win no matter what happens.