[shortonoil]

"Comfortable americans have no idea how low economies everywhere have already sunk."

That's for sure; the latest piece is that in Venezuela people are so weak from lack of food that they aren't even rioting. I have a friend on the Ivory Coast that I chat with; she is telling me that much of the country has already reverted to something like an African Dark Ages. Of course, Americans have Detroit, and the complete collapse of a dozen or more inter-cities that they just don't mention. When controlling perception becomes more important than controlling the real world you know we are deep doo-do.

[marmico]

"Comfortable americans have no idea how low economies everywhere have already sunk."

Ya, sure. World per capita GDP has increased by 1.4% per year since 1980.



Bring on some more laughingstock from Bozo Bunsen Burner Bedford.

[vtsnowedin]

$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('pstarr', ' ')Though few are able/willing to admit it, the Greatest Recession ever was sparked in large part by the 2005 conventional oil peak and half-decade of $100/barrel oil (from $40).

[shortonoil]

"Pstarr,may lose his bet because sucker investors & Banks keep propping up the Oil Industry and the Govt itself will try to also because the Oil Industry is the Economy so they will continue pumping full out."

Correct, the monies being lent are covering losses, they are not expanding the industry. When yields have fallen to the point that no matter what is pumped there will not be enough finished product produced to keep the economy rolling the printing funny money game will come to an end. For the US it now needs about $540 billion per year to keep the oil flowing. The Banks are going to contribute about $300 billion of that this year. The rest will probably come from investors like pension and hedge funds via the FED money spigot.

http://www.zerohedge.com/news/2017-04-2 ... ling-apart

By 2019 it will take 2 barrels of crude to produce 1 barrel of finished product. Past that point any semblance to a regular economy will be getting lost. It looks like pstarr is about a year early.

[shortonoil]

"Ya, sure. World per capita GDP has increased by 1.4% per year since 1980."

The Central Banks are going print us all to fabulous riches! Not!

[vtsnowedin]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('Observerbrb', 'W')hy are you still talking about volume? The drilling and extraction of oil volumes don't really matter. What it really matters is the final amount of energy that reachs Joe the Plumber.

[shortonoil]

"Ya, sure. World per capita GDP has increased by 1.4% per year since 1980."

By the way, where did the other $3.5 trillion that they printed last year go? Tells us that you got it, we all need a good laugh at this point.

[vtsnowedin]

$this->bbcode_second_pass_quote('shortonoil', '.')...
.....
Well you are right about that, but you are a brave lad to take that bet on production. It takes 50% more Shale to produce a barrel of finished product than it does light sweet crude.

[marmico]

The CBs conjure up another $trillion, nothing to see here (literally) move along.

The U.S. Federal Reserve Bank has conjured nothing for almost 3 years. Stick to your new found refinery bullshit, retard laughingstock. If anything, the FED is conjuring less.

[vtsnowedin]

Notice that Shorties and Pstarr's last posts have nothing to do with the discussion immediately above. Can't deal with being called out so try to change the subject and turn the page. Same old B^!! $#^! different page and or different thread.

[AdamB]

$this->bbcode_second_pass_quote('Cog', 'T')hen we have no bet since I find your terms to be unreasonable.

[shortonoil]

"No risk. No bet, not with a troll . . . certainly not on the troll's terms.

Industry and the bankster sharks still need bottom-fish investors to feed on, the mom and pop crowd. Don't underestimate the guppies and catfish, might have learned their lesson. Staying down in the mud lol"

lol, no such thing as a gentleman's bet from that crowd! They are more like a school of baby Parana stuck in a goldfish bowl. Betting on any sense of integrity is not likely to work in your favor. But I have to side with onlooker; oil is the economy and if oil goes south so will the economy. Oil is also the only thing at this point that gives the dollar any value. If the FED loses oil it loses the dollar, and without the dollar there is no FED. They will most likely hock the family jewels to keep things going for one more day. Putting a female hobbit as head of the FED may have been a mistake; small jewel case. They will push this thing as far as possible until the Laws of Physics runs over them. You can't win, you can't break even, and you can't get out of the game is riding hard in this direction. Ma and Pa had better hide what they have under the mattress; when this breaks loose their gold fillings are going to become fair game. In this war, King Oil is not going to be taking any prisoners.

[AdamB]

$this->bbcode_second_pass_quote('vtsnowedin', '')$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('pstarr', ' ')Though few are able/willing to admit it, the Greatest Recession ever was sparked in large part by the 2005 conventional oil peak and half-decade of $100/barrel oil (from $40).

[AdamB]

$this->bbcode_second_pass_quote('pstarr', '
')No risk. No bet, not with a troll . . . certainly not on the troll's terms.

[Tanada]

Adamb stop teasing/trolling for reactions, it gets tiresome after a short period and you have been going on too long.

[onlooker]

The apex of that system occurred at a point of phenomenally high value resources; that era is over.---- Yes and with it Capitalism and diverse Markets. These economic arrangements are not possible in an era of decreasing and expensive to society energy resources. The problem of course is that the entire planet in one way or another, directly or indirectly relies for its livelihood on sufficient energy. Energy fuels the Economy. The consequences of this new era of a shortfall of energy will not be homogeneous in either time or space. Meaning different areas will see less worse or worse fallout and at different time intervals. One thing is certain the cushy and comfortable lives of almost all people will disappear.