 | Ignoring intrayear volatility, where do you expect WTI crude oil futures to close 2009? | The Oil Drum | Nate Hagens : Natural Gas Cliff and Credit Situation on Global Public Media |  |
209 comments on DrumBeat: December 29, 2008
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209 comments on DrumBeat: December 29, 2008
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Of course, there is also the problem of access to credit. The debt explosion, followed by the debt implosion, is the gift that keeps on giving. The surprising thing to me is the extent of the collateral damage to the food & energy producers. Kurt Cobb had a great article that showed an inverted pyramid, with the rest of the economy dependent on the food & energy producers.
In any case, one implication--as people like Jim Kunstler have long predicted--is that there will be a lot more people working in agriculture.
Here is the key graph from Kurt’s article:
http://bp1.blogger.com/_-uualVqzFPk/RqzoKrjp48I/AAAAAAAAAE4/fV4VTpfl5gA/...
Here is the article:
http://www.energybulletin.net/node/32718
Wow. Climate change will cause 2.5% economic decline, but only 1% of the economy is agriculture. And finance / manufacturing / retail will not be affected by climate change, but agriculture will.
In other words, the economy will be sort-of OK, but we'll all starve.
Is it time for me to start that sheep farm in Maine? (currently living in Texas)
This article adds fuel to my contention that ACC needs to be dealt with on an equal basis with the economy and PO.
You're a couple of years late by my count. Me, too.
Cheers
I'm looking for "interns". I'm thinking to park an old school bus out behind the barn. You get room and board in it and promise to keep digging until you die.