Korean Job Discussion Forums

LL Moonmanhead · Joined: 21 Mar 2005 Location: yo momma

Who subscribes to this theory?

How long do we have left til the shit hits the fan?

How should one prepare for the time the shit hits the fan?

Thanks.

mises · Joined: 05 Nov 2007 Location: retired

http://forums.eslcafe.com/korea/viewtopic.php?t=170453

alice0216 · Joined: 23 Jan 2010 Location: Yangju

There is an interesting movie about that called Crude Awakenings, about the oil industry's manipulation of figures and price inflation.
Pretty scary stuff but I think governments are starting to figure out there is a lot less than they were originally told because many are starting to actually get serious about alt. fuels. It will be interesting to see what happens in the Middle East and Russia when the oil starts running low. Not sure what they're planning to base their economy and build their infrastructure on after that happens.

Senior · Joined: 31 Jan 2010

djsmnc · Joined: 20 Jan 2003 Location: Dave's ESL Cafe

I'm kind of cool with the ensuing apocalyptic chaos of oil suddenly running out. I suppose it would be best to be somewhere that you are really interested in staying at for awhile...or with a lot of trees to build a galleon with!

Sergio Stefanuto · Joined: 14 May 2009 Location: UK

Peak oil postponed again:

alice0216 · Joined: 23 Jan 2010 Location: Yangju

Agreed that gov't have been largely unsuccessful thus far, but the private sector is only motivated when oil prices hit the roof or gov't provides a tax break, so I think there is a role for gov't to play.

Sergio Stefanuto · Joined: 14 May 2009 Location: UK

The government should commit more capital to energy research and development. At the moment, the amount being committed is paltry. This proves Stefanuto's Law: it is the nature of government activity to bring about very little benefit yet grossly under-fund things we actually need.

The price system is by far the most crucial thing. As the oil supply decreases, the corollary is rising prices (mind you, a few years ago when oil was over $100pb, that was to do with the weak dollar, so the price of oil has as much to do with the supply of fiat money as it does oil). With increasing prices comes greater incentive to find undiscovered oil and increased innovation. But what if the oil runs out? Isn't that the whole point? Well, yes, but the problem with that is that the dates given (for when oil will be completely consumed) are never correct.