Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on December 27, 2017
All That New Shale Oil May Not Be Enough as Big Discoveries Drop
Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand because the industry has cut back so sharply on higher-risk mega-projects.
Discoveries of new reserves this year were the fewest on record and replaced just 11 percent of what was produced, according to a Dec. 21 report by consultant Rystad Energy. While shale wells are creating a glut now, without more investment in bigger, conventional supply, the world may see output deficits as soon as 2019, according to Canadian producer Suncor Energy Inc.
“Tight rock is not going to solve the global supply-demand issue,” said Adam Waterous, chief executive officer at the Calgary-based Waterous Energy Fund, which invests as much as C$400 million ($265 million). “Its going to take a long time for those mega-projects to come back on.”
Spending Slump
Capital expenditures still well below levels before the price crash
Source: Bloomberg Intelligence
* Consensus estimates
Hydraulic-fracturing technology made it possible to squeeze crude from tight-rock formations and turned the U.S. into the world’s top producer. But it also sent the global benchmark for oil tumbling from $115 a barrel in 2014 to less than $55 in October. That’s eroded the incentive for companies to invest billions of dollars on new reserves that take years to develop but can produce for decades.
Oil prices would need to climb to $80 and remain at that level for two years to justify the costly deep-water projects off the coasts of West Africa or Brazil, Waterous said. And even then, it could take a decade before crude from those investments would arrive on the market, he said. Prices topped $66 this week.
For now, producers have set their sights on smaller, less-risky reserves. In 2013, when investment was peaking and prices were comfortably above $90, the industry was starting new projects that typically targeted reserves of 1.1 billion barrels and cost $9 billion each, according to a January report by consultant Wood Mackenzie Ltd. By 2017, projects on average were expected to shrink to 500 million barrels each and cost $3 billion.
The shale revolution “made people much more cognizant of not tying up capital for as long a period of time as in the past,” said John England, head of energy resources at consultant Deloitte LLP in Houston. “The lower-for-longer mentality is evident throughout the industry.”
For some charts examining the outlook for oil in 2018, click here.
That’s primarily because fracking of North American shale formations in places like Texas and North Dakota has transformed the industry.
Companies like Royal Dutch Shell Plc and Exxon Mobil Corp. historically invested tens of billions of dollars over many years to develop huge reserves in isolated areas like northern Alberta, Kazakhstan or in the middle of the ocean. Shale is different. A tight-oil well could be drilled within a year for a few million dollars. As prices fell, more companies jumped in with more investment.
Now, shale regions that were barely a blip on world markets a decade ago are expected to pump 7.5 million barrels a day in four years, and output probably won’t peak until after 2025, according to the Organization of Petroleum Exporting Countries. The impact was so significant that the cartel was forced to cut its own supplies to halt the slide in prices.
But as robust as U.S. shale oil has been and will continue to be, those reserves alone face a “daunting task” keeping pace with growing global demand if approvals of conventional projects don’t pick up, the IEA said in a report in September. Earlier this year, researchers at the Massachusetts Institute of Technology said the U.S. government may be overstating future growth in shale output because of flawed assumptions about oil technology.
More Expansions
Of the 10 oil projects sanctioned by companies in 2017 that targeted at least 50 million barrels of reserves, only two — Repsol SA’s Ca Rong Do Block 07/03 in Vietnam and Exxon’s Liza Phase 1 off Guyana — were classified as new fields that would produce for the first time, according to data provided by Wood Mackenzie.
Instead, companies said they would try to squeeze more out of the reserves they already have. In Canada, Imperial Oil Ltd. is investing $550 million to expand the capacity of its Kearl oil-sands mine by 9 percent. Chevron Corp. will add 20,000 barrels a day with four wells at its Tahiti platform in the Gulf of Mexico. Off the coast of Norway, Statoil ASA plans to develop the Bauge oil field, using new “plug-and-play” machinery on the seabed and connecting the well to a platform that’s been in operation for 20 years.
To be sure, things could change in 2018. After more than a year of production limits by OPEC, prices have begun to recover, touching an 30-month high of more than $66 this week, compared with $44 in June. Wood Mackenzie said in a Dec. 15 report that almost 80 percent of projects discussed for 2018 are new ones. The gains are encouraging oil producers to boost capital expenditures by about 4.5 percent in 2018 to $261.6 billion, according to forecasts compiled by Bloomberg Intelligence.
Still, that level of investment is well below the peak of $495.9 billion in 2013. And plenty of other producers are standing pat. Pioneer Natural Resources Co., Parsley Energy Inc. and Newfield Exploration Co., among the largest independent drillers, have said they won’t increase activity, even if crude rises.
“The era of mega-projects is kind of coming to a bit of a halt,” Bob Fryklund,
chief strategist for the upstream energy group at industry consultant IHS
Markit, said by telephone from Englewood, Colorado.
68 Comments on "All That New Shale Oil May Not Be Enough as Big Discoveries Drop"
MASTERMIND on Wed, 27th Dec 2017 6:53 am
As M. King Hubbert (1962) shows, Peak Oil is about discovering less oil, and eventually producing less oil due to lack of discovery.
https://imgur.com/a/6dEDt
IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000
Peak Oil Vindicated by the IEA
MASTERMIND on Wed, 27th Dec 2017 6:56 am
We have been draining our reserves for over 34 years by consuming more oil than we discover…Not very surprising we are going to run short soon..Goodbye global economy!
deadly on Wed, 27th Dec 2017 8:12 am
When you are pumping out 98 million barrels per day, it is not a supply problem, the demand gobbles up those 98,000,000 barrels every single day.
Might as well say a billion every ten days.
A consumption of 36.5 billion barrels a year is what you get.
A gigantic number, lots and lots of business involved with oil. Very good for the economy, and it will only get better Donald Trump would say.
365 billion in ten years. In 40 years, the world will consume another 1.46 trillion barrels.
What is there to worry about?
Shortend on Wed, 27th Dec 2017 8:21 am
I was hoping for Elon Musks round trip airline to Mars and back! Perhaps well be lucky and discover some elephant oil fields there and extend BAU. How will we list these in financial statements, rock?
MASTERMIND on Wed, 27th Dec 2017 8:57 am
If supplies can’t meet demand and we have an oil shortage what would be the results.
German Military (leaked) Peak Oil study concludes: oil is used in the production of 95% of all industrial goods, so a shortage of oil would collapse the world economy & world governments
https://www.permaculture.org.au/files/Peak%20Oil_Study%20EN.pdf
Oh..I see.
onlooker on Wed, 27th Dec 2017 9:34 am
NO new mega projects coming online because we have not made mega discoveries in decades. In fact as time has gone by the discoveries have been less and less. Shale does NOT provide enough Net energy to power modern Industrial civilization. Ball game over, MM is spot on
Davy on Wed, 27th Dec 2017 10:13 am
Please tell me when looker. Lol. 1 year or 10?
onlooker on Wed, 27th Dec 2017 10:48 am
Probably somewhere in between Davy. Now the part I am not fully aligned as I said with MM, is the overnight total worldwide crash scenario. We (especially US) will try to adapt with Nat. Gas and Coal. So people will just not sit back and wait for death. Uneven the Collapse will be. As Yoda would say
Cloggie on Wed, 27th Dec 2017 10:59 am
Posted a link to an update of the German army study but it vanished in the memory hole of this site. And this is not the first time posts are lost here over the past few days.
Cloggie on Wed, 27th Dec 2017 11:00 am
German Military (leaked) Peak Oil study concludes
That’s a 2010 study and at the time the Jerries had not yet discovered fracking, shale, etc, let alone the enormous coal reserves under the North Sea, released to the public in 2014:
https://deepresource.wordpress.com/2015/04/07/fracking-is-for-amateurs/
Forget about carbon shortages. Our problem is too much carbon, not running out off.
Fortunately, in its wisdom, the UK government has so far refused permission to apply coal gasification projects in the North Sea. They don’t have to, not yet, but it is certainly a promising fall-back scenario, just in case of for instance war in the Gulf. We are talking about reserves many times the total fossil fuel burned to date throughout human history.
The German army does provide regular peak oil updates, but I can’t discover free copies on the web, but I have not seen a single reference to an alarmist new update from the German military about “peak oil”.
[part 1]
Cloggie on Wed, 27th Dec 2017 11:00 am
German army peak oil studies can be retrieved here (at a cost):
http://www.planungsamt.bundeswehr.de/portal/a/plgabw/start
Millimind is stuck in exactly the same thinking I was in in 2010, but he refuses to take notice that this is 2017 and not 2010. The outlook is totally different now and much better than 2010.
– endless fossil reserves that can be exploited with new technology, in the worst case
– plummeting of prices “renewable energy devices”
– storage problems are likely to be solved
Pointer to 2013 update Germany army peak oil study:
http://www.peak-oil.com/2013/02/update-bundeswehr-studie-zu-peak-oil/
Tadam! They discovered fracking. Whooptido!
Link to study in German, pdf p112
https://tinyurl.com/ntd23ut
[part 2]
Cloggie on Wed, 27th Dec 2017 11:01 am
Time-tested method of dividing in “parts” works again.
Cloggie on Wed, 27th Dec 2017 11:25 am
Probably somewhere in between Davy. Now the part I am not fully aligned as I said with MM, is the overnight total worldwide crash scenario. We (especially US) will try to adapt with Nat. Gas and Coal. So people will just not sit back and wait for death. Uneven the Collapse will be. As Yoda would say
There is not going to be a peak oil induced worldwide crash or anything like that. Regarding energy we are most likely going to have a more or less smooth transition into renewables, backed by the “third carbon age”. There is potentially still an entire planet that can be fracked.
If you ignore economics and decide not to wait and write off your old fossil energy junk, we (EU+US) can carry out the transition within a decade.
If you love to worry, worry about social disturbances, financial calamities, especially in the US or geopolitical disasters, invariably with the US involved.
GregT on Wed, 27th Dec 2017 11:35 am
MM said,
“German Military (leaked) Peak Oil study concludes: oil is used in the production of 95% of all industrial goods, so a shortage of oil would collapse the world economy & world governments”
From your linked 2010 report MM, which BTW, has been discussed here before. A long time ago IMA.
“Since oil is needed directly or indirectly for the production of more than 90% of all industrial goods, effects would show across the entire economic structure. Since an increase in the price of oil would bring about a shift in almost all price relations, consumption and, in turn, domestic production and foreign trade would have to permanently adapt to the new oil prices marketing and using motor vehicles would increase in such a way that it would become necessary for the sector to undergo a fundamental reorganisation process.”
“In the short term, the global economy would respond proportionally to the decline in oil supply.
1. Increasing oil prices would reduce consumption and economic output. This would lead to recessions.”
“In the medium term, the global economic system and all market-oriented economies would collapse.
“Loss of confidence in currencies. Belief in the value-preserving function of money would dwindle. This would initially result in hyperinflation and black markets, followed by a barter economy at the local level.
I would suggest that you actually read the reports that you link to, before making sensational comments about them. And, as I said above, the Bundeswehr report has been discussed here before, a very long time ago.
Cloggie on Wed, 27th Dec 2017 11:51 am
Indeed, it was one of my first posts:
https://deepresource.wordpress.com/2012/01/26/german-army/
At the time I still was a Heinberg groupie.
No more.
Old thread:
http://peakoil.com/publicpolicy/german-military-analysis-of-peak-oil-now-available
MASTERMIND on Wed, 27th Dec 2017 11:56 am
The oil age may come to an end for a shortage of oil -Saudi Saying
MASTERMIND on Wed, 27th Dec 2017 11:59 am
World Scientists “Warning to Humanity” Signed by 15,000 Scientists from 184 Countries Including the Majority of all Nobel Prize Winners
https://www.sciencedaily.com/releases/2017/11/171113111127.htm
Scientific American: Apocalypse Soon: Has Civilization Passed the Environmental Point of No Return?
https://www.scientificamerican.com/article/apocalypse-soon-has-civilization-passed-the-environmental-point-of-no-return/
NASA Study: Industrial Civilization is Headed for Irreversible Collapse (Motesharrei, 2014)
http://www.sciencedirect.com/science/article/pii/S0921800914000615
The Royal Society: Study, Now for the First Time A Global Collapse Appears Likely (Ehrlich, 2013)
http://rspb.royalsocietypublishing.org/content/280/1754/20122845
Study: Limits to Growth was Right. Research Shows We’re Nearing Global Collapse (Turner, 2014)
http://sustainable.unimelb.edu.au/sites/default/files/docs/MSSI-ResearchPaper-4_Turner_2014.pdf
Study: Financial System Supply-Chain Cross-Contagion: in Global Systemic Collapse (Korowicz, 2012)
http://www.feasta.org/2012/06/17/trade-off-financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/
I rest my case..
I AM THE MOB!
Cloggie on Wed, 27th Dec 2017 12:01 pm
The oil age may come to an end for a shortage of oil -Saudi Saying
The conventional oil age is already in decline, that’s true. The challenge is to preempt the end of the oil age so we don’t have to resort too much to “unconventionals”.
MASTERMIND on Wed, 27th Dec 2017 12:02 pm
USA DOE Study: PEAKING OF WORLD OIL PRODUCTION (Hirsch, 2005)
https://www.netl.doe.gov/publications/others/pdf/Oil_Peaking_NETL.pdf
USA GAO Study: Uncertainty about Future Oil Supply. Addressing a Peak and Decline in Oil Production
http://www.gao.gov/new.items/d07283.pdf
Australian Government (Leaked) Study: concludes world peak oil around 2017
https://web.archive.org/web/20170415190328/https://www.aspo-australia.org.au/References/Bruce/BITRE-Report-117-Oil_supply_trends-2009.pdf
WORLD ECONOMIES IN TROUBLE: Middle East Oil Exports Lower Than 40 Years Ago
https://srsroccoreport.com/world-economies-in-trouble-middle-east-oil-exports-lower-than-40-years-ago
Cornell University: Energy Studies in the College of Engineering. The Challenges of Peak Oil
http://www.geo.cornell.edu/eas/energy/the_challenges/peak_oil.html
The End of Peak Oil? Why this topic is still relevant despite recent denials (Chapman, 2014)
http://www.sciencedirect.com/science/article/pii/S030142151300342X
Projection of World Fossil Fuels by Country (Mohr, 2015)
http://www.sciencedirect.com/science/article/pii/S0016236114010254
GregT on Wed, 27th Dec 2017 12:06 pm
also mm,
From that same report:
“The transmission channels of an oil price shock involve diverse and interdependent economic structures and infrastructures, some of which are of vital importance. Its consequences are therefore not entirely predictable. Initially, it will be possible to measure the extent of these consequences, although not exclusively, by a reduced growth of the global economy. The scale of potential peak-oil-induced setbacks in economic growth can include what is referred to as a “tipping point”, which determines whether or not an ex-ante analysis of peak oil effects remains possible or not.”
“The phenomenon of tipping points in complex systems has been known for a long time and is referred to as “bifurcation” in mathematics. Tipping points are characterised by the fact that when they are reached, a system no longer responds to changes proportionally, but chaotically. Currently, reference is made to potential “tipping processes” most notably in the field of climate research. At such a point, a minor change to one parameter – in the case of the climate, a change in temperature – would have a drastic effect on an ecosystem.”
GregT on Wed, 27th Dec 2017 12:11 pm
All of those reports that you have linked to, have been read by myself already MM.
Most have been discussed here before. Old news dude.
Get back to us all when you get yourself up to speed.
Cloggie on Wed, 27th Dec 2017 12:12 pm
Millimind suspiciously has to resort to older, no doubt peer-reviewed, reports, just to keep his sensationalist peak oil collapsenik world view alive, with which he hopes to impress his buddies in downtown cafes.
"Lucifer" on Wed, 27th Dec 2017 12:19 pm
Well, some of you better listen to me because “The collapse” will be within 12 years, you can take my word for that.
MASTERMIND on Wed, 27th Dec 2017 12:23 pm
The End of the Human Race will be that it will Eventually Die of Civilization –Ralph W Emerson
MASTERMIND on Wed, 27th Dec 2017 12:25 pm
Lucifer is right and everyone reading this post sees I posted the peer reviewed science to back it up…And don’t worry about having entertainment when the grid goes down. You will have plenty of things to see right outside your window! LOL
GregT on Wed, 27th Dec 2017 12:27 pm
MM,
The five stages of grief:
Denial
Anger
Bargaining
Depression
Acceptance
Not necessarily in that order. Given your self admitted plan of putting a bullet in your own head, It is obvious that you have not moved beyond depression.
Get help son.
MASTERMIND on Wed, 27th Dec 2017 12:27 pm
Within ten years you will either be dead or wish you were. Things will be so bad you will wish you were never even born. And the collapse will be fast because it will happen at the speed of technology!
twocats on Wed, 27th Dec 2017 12:27 pm
Not looking good for sure. But is it out of control of Central Bankers and Government Planners to work around?
If demand starts to outpace supply then they’ll have to lift the price of oil to slow demand. Or they’ll have to spike the economy. Either one of those is very risky given the mother of bubbles to end all bubbles is at play.
It will be interesting either way.
MASTERMIND on Wed, 27th Dec 2017 12:30 pm
Simple really….when the World Economy Collapses everything shuts down…the end….we’re talking about grids and JIT systems down all over the world and 7.5B people dropping like f*** flies in short order…The collapse will be absolutely horrible..There is no collapse or horror movie ever produced that has even come close to imagining what the collapse of BAU might look like. I’m talking about every corporation and every social program going bankrupt at once.I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind. Nothing has ever, or will ever come close.
GregT on Wed, 27th Dec 2017 12:36 pm
“You will have plenty of things to see right outside your window!”
The same things that I am looking at outside of my window right now.
Trees, birds, animals, and a vast expanse of nothing else but wilderness.
fmr-paultard on Wed, 27th Dec 2017 12:41 pm
guys, putin is bumping oposition of the ballots. big improvement for ((eurotard)) PBMB “confederation”. This is a basis for a solid foundation for racial supremacy, economic prosperity, military supremacy don’t you think?
GregT on Wed, 27th Dec 2017 12:42 pm
“Simple really….when the World Economy Collapses everything shuts down…the end”
Kind of makes one wonder how mankind managed to survive the last 200,000 years. Without the global economy, and/or modern industrial society.
Cloggie on Wed, 27th Dec 2017 12:43 pm
Within ten years you will either be dead or wish you were. Things will be so bad you will wish you were never even born. And the collapse will be fast because it will happen at the speed of technology!
You missed your vocation as an actor, specialty: drama queen.
Feel good video IEA, the very organization millimind loves to abuse for his sensationalist purposes:
https://www.youtube.com/watch?v=mfNE_6ae6B4
2022, renewable electricity:
Denmark 70%
Ireland 35%
ES, DE, UK 25%
China, India 10%
Flatland Denmark will almost be there as far as electricity is concerned and can begin to concentrate on space heating and transport. It can’t be stressed enough how important it is to at least have one country shown that it can work. Denmark has ZERO resources, other than smart people with a vision and fertile flat land. They are nevertheless one of the richest countries in the world and have a high quality of life index. And they will be the first with a functioning renewable energy base and, as a consequence, make a lot of money by selling their expertise to the rest of the world:
#Vestas
#DONG
(Thank God they changed that Chinese sounding name DONG into Ørsted, that’s the spirit. Especially that “Ø” makes the heart of any identitarian tick faster.lol Natzi-alert.rofl!!!)
Ding-dong!
MASTERMIND on Wed, 27th Dec 2017 12:48 pm
Gregt
They survived because they had surplus resources…Duh…
GregT on Wed, 27th Dec 2017 12:51 pm
“And they will be the first with a functioning renewable energy base”
Been there, done that, since around 1860.
Cloggie on Wed, 27th Dec 2017 12:54 pm
http://www.iea.org/renewables/
IEA very upbeat report on renewables and the progress made.
Terrible news for millimind, who now has to find a different doomer subject.
GregT on Wed, 27th Dec 2017 12:55 pm
“They survived because they had surplus resources…Duh…”
I am surrounded by tens of thousands of hectares of surplus resources MM.
Now excuse me while I go and grab some more firewood from the woodshed.
Cloggie on Wed, 27th Dec 2017 12:57 pm
Been there, done that, since around 1860
I know, but Canada has a resource most countries don’t have: huge territory, with few but smart people and high mountains with lots of precipitation, offering renewable energy on the very cheap.
GregT on Wed, 27th Dec 2017 12:59 pm
“Terrible news for millimind, who now has to find a different doomer subject.”
MM has already made up his mind Cloggie. His ultimate solution is to simply put a bullet in his own head.
When the going gets tough, smart people always kill themselves. 🙂
fmr-paultard on Wed, 27th Dec 2017 1:08 pm
guys i’m worried about mm/genital farmer. his idea of doom is more doom and he mentions death and destruction often. PO is not an easy thing for one mental well-being. i know guys who massage their brains all the time and then lose control. it’s funny to watch.
i know that thinking is easy but hard at teh same time because it’s hard to get right. but i also work on things around the house to appreciate how difficult it is to get things done. for this reason i smelled BS when ((eurotarded)) floated the idea of PMBB confederation. Just because there’s an idea doesn’t mean it’s a reality. I’m not sure what gives supertard such conviction.
I sorta guess it’s the hard lesson learned from permacutism. just because the thing is thousand of pages long doesn’t mean women eventually will be drafted as beasts of burden. this is a different permutation of exploitation. islam use women as property and breeding, permacustims use them for labor slavery.
fmr-paultard on Wed, 27th Dec 2017 1:14 pm
from the philosophical perspective, when PO hits and ((eurotarded)) renewables can’t carry, it seems the Orwell’s machines are dead. I guess this is why supertard was going for permacutism. The new old machines have to take up the slack and that’s women. in traditional society supertards take care of political matters and fighting, women do the hard work.
this is why you see the romanian guy with hands in pockets and his wife had tons of tree branches on her back.
Cloggie on Wed, 27th Dec 2017 1:39 pm
“I’m not sure what gives supertard such conviction.”
1. Rise of China to become the most powerful country on earth by far
2. The centuries old strong Russian desire to finally become accepted as a European (white, Christian) nation.
3. The Gaullist anti-Anglo anticipation of Russia getting rid of Bolshevism, opening up the possibility for France, together with Germany, to rise to global prominence again, they enjoyed for 1000 years, in competition with Britain. “Grandeur, Grande Nation”
4. The general North-American despair with the prospect of becoming a minority in their own lands, as organized by their (((overlords))) and gradual acceptance that living in a majority European-American society within a global European Commonwealth is more desirable than continue to promote exceptionalism (“invite the world, invade the world”) to hope to achieve planetary empire, that is not going to happen anyway.
These four factors together explain why I expect the Gaullist worldview PBM to materialize.
MASTERMIND on Wed, 27th Dec 2017 1:41 pm
Gregt
If you want to live in a world of barbarism post collapse. Go right ahead…Personally I wish you all the luck in the world. You will surely need it.
Davy on Wed, 27th Dec 2017 1:46 pm
Denmark 70%
Tulip, you are bragging about a country that is smaller than many cities. Try to keep perspective.
Davy on Wed, 27th Dec 2017 1:51 pm
PBM is the neurosis of a desperate Gaullist. Empire is not a better in the new world of decline.
GregT on Wed, 27th Dec 2017 2:28 pm
“Personally I wish you all the luck in the world.”
Thanks for your kind words MM.
I wish you ‘all the luck in the world’ in your plan as well.
May your suicide be quick and painless.
MASTERMIND on Wed, 27th Dec 2017 2:38 pm
GregT
It’s better to burn out. Then it is to rust.
-Neil Young
Cloggie on Wed, 27th Dec 2017 2:50 pm
“PBM is the neurosis of a desperate Gaullist. Empire is not a better in the new world of decline.”
Your empire was build on lies, rape and mass murder and deserves to be liquidated… and will be liquidated.
I am talking about a voluntary union of European nations.
Now go back to the site were you can see where your carriers are. As you said recently… “it sucks to be an American”. You have no idea how it is going suck if you are on the wrong side. You are the desperate doomer here.
twocats on Wed, 27th Dec 2017 3:08 pm
I tend to favor fast collapse because it would alleviate environmental stress from humans for several generations as they rebuilt their societies based on lower energy inputs.
I was pretty convinced that the global capitalist system would not be flexible enough to navigate these ferocious Peak Oil waters. But all things considered the system is holding up rather well.
Whether all these adaptation have been intentionally crafted or not the “system” has shown remarkable resilience and I see enough tricks left in the bag to carry this dying beast at least another 5 years, if not 10.
That doesn’t mean they won’t submarine it themselves to conserve resources. But again, I don’t see that as being a “total collapse” quite the opposite but a controlled demolition to preserve the whole.
The wealthy already have “all the monies”, and if they need to “hunger games” the bottom 90% a bit, much like in the book it will mostly only hurt the very very bottom to the point of death. Almost all will play along with the game though. There isn’t a substantial resistance to it anywhere in the world.
GregT on Wed, 27th Dec 2017 3:27 pm
“It’s better to burn out. Then it is to rust.”
Young was talking about Johnny Rotten of the sex pistols, vs Elvis Presley. I’ve never been a music icon, and have no plans to be anytime soon.
“And once you’re gone, you can never come back
When you’re out of the blue and into the black.”
-Neil Young
The above quote is self explanatory. Once you pull that trigger MM, there’s no going back.
I’ll take my chances with Barbarism. I’ve always enjoyed a good challenge. 🙂