Recently, there have been worried or angry or outraged articles in the blogosphere about the stimulus money going to help create jobs in Canada, China, or going into the pockets of foreign multinational companies.

I'd like to make a few comments on this.

This is part of my series on wind power.

Below the fold is the latest essay from Jay Hanson, which goes, how should I put it ... a bit beyond modern media discussions on the newest details of the economic stimulus program, whether the stock market is overvalued or whether carbon sequestration is a good idea. I don't concur with all of his prescriptions, and the mention of state control of anything makes me viscerally squirm, but Jay has usually been ahead of the curve in grasping the bigger picture - and compared to general business as usual thinking, way ahead. As a Campfire post I'd hope people discuss/debate his ideas, which center around removing personhood for corporations, making lobbying illegal, and having scientists and engineers inform policy, all enabling less waste of energy and other natural resources per unit time, for a longer time.

Though it may not be apparent to most, we are in the social crisis of our era. It is becoming increasingly clear we won't be able to service our large and growing debts in relation to the existing infrastructure and geopolitical landscape. How this and the myriad social, environmental and energy related issues get prioritized will require incredibly tough decisions, ones that will only get tougher the longer we delay.

This is a guest post by Alexis Ziegler. Alexis is a communitarian, builder, orchardist and environmental activist living in central Virginia. He is the author of a recently published book, "Culture Change: Civil Liberty, Peak Oil, and the End of Empire". More information can be found at conev.org.

In the couple of years since Culture Change was first published, much has changed. Culture Change predicted that in 2007 we were "at or near" global peak oil production, and that we would face a "large economic contraction" as a result.¹ In July 2008 oil production hit an all-time high of 74.8 million barrels per day and oil prices reached an unprecedented height of $147.27 in daily trading.² Since then, the global economy has collapsed into the worst recession since the Great Depression. Oil prices have oscillated wildly, and oil production has declined as global demand has decreased.

Meanwhile, production from the giant oil fields which make up the lion's share of global production has continued to decline. There is a growing consensus, at least among those concerned about peak oil, that the July 2008 peak of production will probably remain as the all-time historic high for global oil production.³ As of the most recent measure, more than 60% of global oil fields are past peak and are now in permanent decline.⁴

World Oil Production from August Oil Watch Monthly
And the response has been.... silence.

The past few days, delegates from 20 of the worlds largest economies met in Pittsburgh Pennsylvania to further develop international strategies to deal with the ongoing financial, energy and social crises. The "Leader's Statement" could reasonably be summarized by this excerpt:

"We further committed to additional steps to ensure strong, sustainable, and balanced growth, and to build a stronger international financial system."

Considering there was no mention of biophysical limits, nor of mankinds underlying consumptive drivers and considering that 'strong' is at cross purposes with 'sustainable' and 'balanced', I am left with the frustrating conclusion that our same old cargo cult beliefs - that growth and consumption will follow money/debt - are unfortunately alive and well. Below the fold is a brief overview and a chance for TOD readers to play G20 policymaker.

Fiat vs. Real - A Wile E. Coyote moment...