energy down

ENERGY DOWN

“Energy, not money, is the root of all economic activity.” Michael C. Ruppert, A Presidential Energy Policy.
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I told you before about the above book and how much I enjoyed it. Since yesterday was overcast and cold with a dusting of snow I decided that it was a perfect time to reread the book, to further depress myself. Let me share a few fun filled facts. Alaskan oil is down to one third its peak production twenty years ago. 42 of the 50 largest oil producing nations have declining oil production. In billions of barrels of oil, discovery rates are below that of 1930. And, global production is declining, net, 9% a year. Let’s look at each one and hopefully you will see why it is imperative for you to start panicking yesterday if not sooner.
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Alaskan oil is not going to save out butts like it did in the 1970’s. It is a shadow of its former self production wise ( Alaska, and the Gulf, and lower 48 all together are only half our lower 48 production of 1970 ). And you can forget about North Sea oil ( which provided the same Lone Ranger rescue thirty years ago ). That peaked in 1999. England has become dependant on Russia for its natural gas and Norway is on a crash course to invest in alternate energies. Our Federal government will not follow that course, mainly due to the banker elite needing every possible dollar to stay afloat just a little bit longer. It is all up to the individual, just like food reserves and self protection.
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The fact that almost all the oil producing nations are in decline should be cause enough for you to worry. And that is just what they confess to. Canada and Venezuela count their non oil tar sands as oil reserves. And they are in our top five exporters. Saudi Arabia won’t admit to decreases, instead disguising them as production cuts to stabilize prices. Assume that Saudi Arabia is the only country to ever ignore the laws of nature and its main field hasn’t started to decline after forty years of heavy production. Then why are they buying up record numbers of off shore wells? If their land based main field isn’t in terminal decline, why are they pumping so much from lesser underwater fields?
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Oil discovery has been declining since the 1960’s. And that is after new advances in technology to find oil fields. Seventy five years ago, we were finding more oil than we are now, and that was back when population was a lot lower and not every farm was dependent on petroleum and natural gas to produce food. You need to seriously ask yourself how having a lot more people and a lot more oil dependence can’t backfire now that we are finding less oil. Oil discoveries are down in gross numbers and way down in per capita numbers. Back in the day, oil was not used to any extent compared to today. We lived near our work, we ate from near by farms. Not today.
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Taken in total, net production after new discoveries, we are seeing 9% less oil being produced every year. Which dovetails nicely with our 8% decline in oil imports. How long do you honestly think our economy and our government and our civilization can last seeing almost 10% a year in energy decline? Our whole economic model was based on more oil being used every year. That is over and done with. Mass money creation is holding it together for a short period, but that is only a band-aid. Money can’t run your car or heat your home. Energy is the base, and energy is in terminal decline. Economically, it is all over but the crying. Now you have to worry about saving your sorry butt, because soon enough lack of energy is going to effect our food production ( 20% of our energy use ). It is nice to lie in a flower strewn meadow and soak up the sunshine and dream of organic farms and Birkenstock wearing saviors of mankind feeding everyone on the few plots of fertile land left, but it ain’t going to happen with our population.
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Don’t worry, I’ll keep hollering about this until you panic properly. Or, just go back to looking for green shoots. Forget oil depletion hard facts, just listen to empty promises designed to keep the herd from bolting.
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