[onlooker]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('ROCKMAN', 'A')nd given the damage done to the oil patch as a result of those enabling high oil prices that have now disappeared how many years, maybe even a decade+, before the next 0.9% is added to future new reserves? IMHO sounds like some rather slim hope for even such very small gains.

[ennui2]

$this->bbcode_second_pass_quote('Plantagenet', '
')Peak Oil is a SCIENTIFIC hypothesis that purports to predict how oil resources are depleted. It was proposed by a Phd earth scientist and published in scientific journals.

The social and economic knock on effects of peak oil are not peak oil. Rock man has proposed the term peak oil dynamic POD for these related consequences

[MonteQuest]

$this->bbcode_second_pass_quote('Plantagenet', 'P')eak Oil is a SCIENTIFIC hypothesis that purports to predict how oil resources are depleted. It was proposed by a Phd earth scientist and published in scientific journals.

[MonteQuest]

$this->bbcode_second_pass_quote('ennui2', 'F')or once I stand by Planty. The warping of the term into an "economic crisis" is purely a marketing effort to make peak-oil feel relevant to joe-sixpack.

[onlooker]

$this->bbcode_second_pass_quote('ennui2', '')$this->bbcode_second_pass_quote('Plantagenet', '
')Peak Oil is a SCIENTIFIC hypothesis that purports to predict how oil resources are depleted. It was proposed by a Phd earth scientist and published in scientific journals.

The social and economic knock on effects of peak oil are not peak oil. Rock man has proposed the term peak oil dynamic POD for these related consequences

[davep]

It's not an economic crisis as such. Peak oil has economic knock-on effects because the current debt-based money system requires growth to stand still. That isn't fixed in stone though; it has just become the current global paradigm and will have to change when FFs become more expensive as we bump down off the plateau.

The problem is that there are powerful interests behind the economic status quo.

[MonteQuest]

$this->bbcode_second_pass_quote('davep', 'I')t's not an economic crisis as such. Peak oil has economic knock-on effects because the current debt-based money system requires growth to stand still.

[davep]

Just clarifying the relationship. I've been banging on about the details of the current money creation system on other threads if you fancy it.

[MonteQuest]

$this->bbcode_second_pass_quote('davep', 'J')ust clarifying the relationship. I've been banging on about the details of the current money creation system on other threads if you fancy it.

[davep]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('davep', 'J')ust clarifying the relationship. I've been banging on about the details of the current money creation system on other threads if you fancy it.

[MonteQuest]

$this->bbcode_second_pass_quote('davep', 'I')'ve tried and failed to convince him on that front too. An equity/sovereign-based currency is essential IMO. It also creates a huge buffer of circulating equity relative to money creation meaning the actual money-creation process is more or less insignificant (unlike the current system where money is destroyed when a loan is paid back, and banks massively restrict loans and hence the money supply whenever they get nervous).

[Cog]

I hope you aren't a gold bug. They took a bath. Much to the consternation of the doomer crowd.

[MonteQuest]

$this->bbcode_second_pass_quote('Cog', 'I') hope you aren't a gold bug. They took a bath. Much to the consternation of the doomer crowd.

[onlooker]

Yes the debt based monetary system is becoming more untenable day by day. If you have time Monte you should check out the ideas that Dave as put forth from what already has been studied by some in regards to the asset/sovereign based system that is fundamentally different than this debt based system. Both Dave, I and I am sure a few others would be interested in hearing your opinion about this seminal monetary system that would certainly be much better than what we have now.

[ralfy]

From what I know, peak oil is not a scientific hypothesis but a fact, based on physical limitations of oil and gravity.

[onlooker]

$this->bbcode_second_pass_quote('ralfy', 'F')rom what I know, peak oil is not a scientific hypothesis but a fact, based on physical limitations of oil and gravity.

[MonteQuest]

$this->bbcode_second_pass_quote('onlooker', ' ')If you have time Monte you should check out the ideas that Dave as put forth from what already has been studied by some in regards to the asset/sovereign based system that is fundamentally different than this debt based system. Both Dave, I and I am sure a few others would be interested in hearing your opinion about this seminal monetary system that would certainly be much better than what we have now.

[onlooker]

post1269233.html?hilit=%20equity#p1269233
Also, see this from the Chicago based plan:
https://www.imf.org/external/pubs/ft/wp ... p12202.pdf
I will summarize here four basic points about the equity/sovereign based plan:
First, preventing banks from creating their own funds during credit booms, and then destroying these funds during subsequent contractions, would allow for a much better control of credit cycles, which were perceived to be the major source of business cycle fluctuations.

Second, 100% reserve backing would completely eliminate bank runs.

Third, allowing the government to issue money directly at zero interest, rather than borrowing that same money from banks at interest, would lead to a reduction in the interest burden on government finances and to a dramatic reduction of (net) government debt, given that irredeemable government-issued money represents equity in the commonwealth rather than debt.

Fourth, given that money creation would no longer require the simultaneous creation of mostly private debts on bank balance sheets, the economy could see a dramatic reduction not only of government debt but also of private debt levels

[Tanada]

Clearly my initial estimate was too pessimistic, however I now think it is likely we will fall off by 2020. What say yea?

[vtsnowedin]

$this->bbcode_second_pass_quote('Tanada', 'C')learly my initial estimate was too pessimistic, however I now think it is likely we will fall off by 2020. What say yea?