Peak Oil is You
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Page added on September 2, 2013
Energy: The Next Systemic Risk to Banking?
There will be a delay with the audio and video for this event. Apologies for any inconvenience caused.
PowerPoints:
Download the PowerPoint presentation in PDF form below.
Download Chris Skrebowski’s presentation here
Download Prof. Steve Keen’s presentation here
Download Dr. Michael Kumhof’s presentation here
Download Gerard Reid’s presentation here
Dowload Sean O’Sullivan’s presentation here
About the Seminar:
Fresh from a major INET Conference in Berlin sponsored by George Soros, on the need for new economic thinking, economic thought-leaders Dr Michael Kumhof (IMF), Australian Professor Steve Keen (author of “Debunking Economics” and Philip Coggan (Bagehot columnist in the Economist) and others discussed how to correct the failure of our existing economic models to take account of the impact of rising energy prices and the banking crisis on the economy. This fascinating discussion was co-hosted with ASPO.
About the Speakers:
Chris Skrebowski, Consulting Editor of Petroleum Review; Prof. Steve Keen, author of ‘Debunking Economics’ and Professor of Economics and University of Sydney; Dr. Michael Kumhof, Research Department, IMF; Gerard Reid, Specialist in Alternative Energy Investment and Partner and Founder at Alexa Capital LLP; Sean O’Sullivan, Co-founder and Managing Director of Avego and a ‘Dragon’ from TV program Dragon’s Den.
6 Comments on "Energy: The Next Systemic Risk to Banking?"
J-Gav on Mon, 2nd Sep 2013 5:22 pm
Skrebowski gives some useful info in his usual low-key manner as to how far along we are in the peak oil scenario but my favorite presenter here is Steve Keen. Are you ready for a “Minsky Moment?”
NB: I admit I didn’t get all the way through the other presentations – thus no comments.
DC on Mon, 2nd Sep 2013 5:56 pm
The biggest risk to the banking system *IS* the banking system itself, enough said!
actioncjackson on Mon, 2nd Sep 2013 9:40 pm
If your ‘new model’ involves oil powered machines… then you’re going to have a bad time. I’m talking to you last two guys.
Roger that DC.
awb on Tue, 3rd Sep 2013 12:51 am
These presentations were all from 4/12. Needless to say a lot has “changed” in the E&P part of the business these last few years — or at least that’s what the “Backer/Producers” would like you to think.
This phenomenon of “Shale Oil and Gas (Tight Oil), they would have you believe disrupts all the previous assumptions of US supply and demand going forward. Given the extraordinary high depletion rates of these techniques, it’s very hard to someone to cheer — unless you’re constantly drilling and securing capex, it has been compared to the Red Queen running. You have to run faster just to stay in the same place.
If this is true, why would anyone look at the last few years of “shale” as anything more than a Ponzi scheme constructed for the benefit of the bankers and dealmakers?
What am I missing?
GregT on Tue, 3rd Sep 2013 1:21 am
There will come a time, when the economists will go back to doing what they have always done best, counting beans.
Unfortunately for them, bean counters are not really needed in small, sustainable, local communities. Perhaps they should learn how to shovel shit, they could be far more productive.
BillT on Tue, 3rd Sep 2013 3:14 am
GregT, yes, they seem to be good at it … shoveling that is. They are the problem and until they go away, we are headed for a crash. When it is over, there will be thousands of bankers, economists and investment counselors begging in the streets because they will have no useful skills or knowledge.
Their world has no limits, but the real one does. There will be no ‘easy change’, unless you call a never ending Great Depression ‘easy’.