The Peak Oil Point Has Passed!

TPMCafe – I’d like to alert you to the writings of Geonomist GRMorton on why he believes that the Peak Oil has likely passed. “We have now passed the most significant time in human history. For the past million years, every day in the future humanity had more energy than they had yesterday. But from here on out, we will have less energy every day in the future.

This will have implications for crop yields (1% of the world’s energy supply goes to making fertilizer; N. Korea is starving to death because they can’t get fertilizer), interest in your bank account (how can banks make money when every day in the future the businesses they loan money to have less energy with which to ship their products to market?), the structure of American and European cities, the ability to travel the world, the ability to ship food to distant places.”
TPMCafe