The Oil Drum

25 comments on Michael Klare: Tough Oil on Tap

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Mr Toad on August 17, 2007 - 8:06am

I always enjoy reading Roger's comments, and he has such
an optimistic outlook that it makes be feel almost ashamed of my own rather more gloomy view of the way that things are
likely to work out in the future.
It seems to me that even with the present abundance of cheap
energy mankind is abjectly failing to cope with the multiple
and rapidly increasing problems that it has created.
How anybody can expect these difficulties to be surmounted
in the face of resource depletion,environmental degradation,
and continued population growth, is a source of amazement to
me.
Obviously many people still believe in magic.

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mcgowanmc on August 17, 2007 - 8:29am

Arkansawyer

Complexity leads to collapse.

The $415 Trillion derivatives market has collapsed.

We're in 1929.

And having to raise $20 trillion in today's
dollars. $5 Trillion in deflated dollars.

With Cheney still in charge?

Moody's Warns of Potential LTCM-Scale Fund Collapse (Update5)

By John Glover

Aug. 16 (Bloomberg) -- Moody's Investors Service fueled concern that the global credit crisis is worsening by speculating that a hedge fund collapse on the same scale as Long-Term Capital Management LP in 1998 is possible.

And oil/gas prices have collapsed as funds liquidate whatever they have of value, even as Dean is forecast
at CAT 4 to hit anywhere from Cantarell to Holstein.