by BlisteredWhippet » Thu 22 Jan 2009, 05:30:48
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Thanks by the way for the post Phil, hits the nail. In a crowded field, you must be the busiest man in New York.
At the risk of further drift away from Gaza to peak oil...
'I have a 110+ GB library of articles and reports, one-half of which have been wiped from the web. It will take years to catalogue it properly.'
Mr W - if you ever get around to that, I would love to browse the results.
I have to say though that I am with Johnny Rico on peak oil, which is like climate change in that, yes, lots of scientists disagree with the conclusion of the consensus of experts that we are in trouble, but the cost of ignoring the consensus warnings (because they might be wrong) in the event that they are true, dwarfs the cost of heeding them, even if they turn out to be flat wrong.
What's worse - a global project to limit emissions, costing trillions and impacting it's true some communities far more than others - or the actuality of the worst-case scenarios most respected experts now say are possible if the models are largely correct? It is no contest. It's the stakes that matter, and if both outcomes are possible, we have to choose the lesser of two evils - this is simply prudence.
'Kunstler's not prophetic'
Mint, that is (a) a little early, don't you think? and (b) a prophecy itself. The point is even abiotic oil will run out too, won't it? The earth and it's resources are finite aren't they? Oil takes millions of years for geological processes to refine it down to the sweet crude we enjoy, or even the tar sands that cost us the earth to enjoy. It's a bit like global warming; some of the science may be dodgy, but a large majority of experts in relevant fields agree it is at least possible, if not probable, that it's happening. Is it sensible, as a conscious species, to gamble that the naysayers are correct, because there's less short and medium term pain involved in their scenarios?
That kind of thinking invites the Black Swans Nassim Taleb has made famous; rare and unexpected events, the magnitude of which can destroy any human construct. The meltdown, despite clear warnings from at least a dozen people I know of (including both Engdahl and Kunstler by the way) was a Black Swan, because too many people pooh-poohed possibilities that their strenuous probability studies (of the past of course, the only data available) did not equip them for the inherently unstable future.
You mention Amory Lovins but it's my understanding that he and the RMI accept oil depletion as a given, but argue 'soft energy' can replace it. They wrote a book called 'Winning the Oil Endgame' after all, so it's misleading to suggest they think peak oil a crock. Many experts disagree that their replacement technologies and soft energy strategies are sufficient, and Kunstler sides with them. I can't say for sure, but I again go back to the stakes - what if the doomsayers are correct vs what if they are off the mark? Again, it's no contest.
What gets lost in all this is that science is by it's nature about disagreement, even argument. Feynman said that doubt is the engine of science, no scientist can afford certainty - it turns into dogma fast, and after all, every scientific proof is subject to doubt. The sun may not rise in the morning if a black hole opens up nearby. Nothing is certain.
Whereas doubt is death in politics. He who hesitates is lost, while the scientist must test, wait, entertain opposing conclusions. The pollie who expresses doubt can start planning for retirement.
Most science doesn't need to face the public - fruit flies, better textiles, pure physics etc - not even the back pages. But peak oil and climate change have come into every living room because they are potential civilisational threats. They have therefore entered the political realm, where the differences of expert opinion are artificially polarised in the interests of arriving at a certainty that can be successfuly marketed to the electorate. Inevitably something of the detail and nuance of both sides goes missing, and the targets end up being compromises that please no-one.
But that's politics, well, democratic politics anyway, and we have to expect that the political establishment (and the constituent establishments it represents) will have little patience for scientific to-ing and fro-ing; they will pick the side their constituencies force upon them and will not evince much doubt about it.
It's not perfect but it's all we have, and all I ask is that if they err, they do so on the side of caution. It seems to me this is what is happening, but wearing my science hat, I agree that (a) they may have chosen the wrong horse, or (b) they have left their run too late.
Posted by: Glenn Condell | January 13, 2009 at 09:32 PM
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I am using up my bandwidth allocation in one go, but here's Kunstler in March 06 (he was earlier but I haven't time to trawl):
'This week's Sunday Time Magazine devoted itself to the idea that housing bubble is (in Martha Stewart's words) a good thing. In fact, Martha herself is getting into the racket, lending her name to a 650-unit (they're just units) suburban subdivision outside of Raleigh, North Carolina. If she was shrewd about the deal (could it be otherwise?) than Martha will get paid whether the project tanks or not.
Really, the whole issue of the Mag was just an opportunity for the financially-strapped Times to sell a shitload of advertising to the real estate investment trusts, the luxury condo hucksters, and the home furnishing industry. It will probably go down in history, along with Yale economist Irving Fisher's 1929 proclamation that the US had achieved "permanent prosperity," as one of the seminal documents of societal cluelessness in the face of obvious calamity.'
Prophetic enough for you, Mint? And here is Engdahl as far back as July 2004:
'Given the scale of the money-printing by the Fed and the US Treasury since 2001, it is pre-programmed that the „correction“ of the latest Greenspan credit binge will impact the entire global financial and economic system. Some economists fear a new Great Depression like the 1930‘s. The world today depends on cheap US dollar credit. When US interest rates are finally forced higher, dramatic shocks will hit Europe, Asia and the entire global economy, unlike any seen since the 1930‘s. Debts that now appear manageable will suddenly become un-payable. Defaults and bankruptcies will spread as they did in the wake of the 1931 Creditanstalt collapse...
The rise in home prices has been driven by cheap interest rates and banks rushing to lend with abandon. Because two semi-government agencies, the Federal National Mortgage Association, known as FannieMae, and the Government National Mortgage Association, or GinnieMae buy up the bank‘s mortgage contracts, taking the risk from the local banks, so the local lending bank has less pressure to guarantee that he lends to low-risk credit-worthy families likely to repay the loan.'
Prophetic too, and earlier even than Roubini. Point being, both the accused antisemite Engdahl (who once called George Soros a 'court Jew') and conformed Zionist Kunstler, who may also disagree about oil, saw the crash coming and were ignored. How much better off would we all be had Engdahl been invited to consult with the Fed or Treasury back in 04?
In the early days of climate change theory, it was the worriers who were the outliers - we may perhaps regret not listening to them earlier - but they have convinced enough of their fellows to have coalesced into a strong majority, most of them now of the opinion that the climate Black Swan is just around the corner. If we continue to ignore them, after the lessons of the crash, we may as well be lemmings.
Taleb once said: My classical metaphor - A Turkey is fed for a 1000 days. Every day confirms to its statistical department that the human race cares about its welfare "with increased statistical significance". On the 1001st day, the turkey has a surprise.
Taleb has applied this logic to climate change and I guess would do so with peak oil too. I think it applies also to Israel - every outrage so far has resulted in some foreign clucking, but the Zionist beast keeps growing fatter, so it keeps on eating the neighbour's children, until one day, it has a surprise.
Posted by: Glenn Condell | January 13, 2009 at 10:00 PM