“As individuals, and as a social species we put up huge psychological defenses to protect the status quo. We’ve heard this doom prophesied for decades, all is still well! What about technology? Rising energy prices will bring more oil!
We need a Green New Deal! We still have time! We’re busy with a financial crisis!
This is depressing! If this were important, everybody would be talking about it!
Yet the evidence for such a scenario is as close to cast iron as any upon which policy is built: Oil production must peak; there is a growing probability that it has or will soon peak; energy flows and a functioning economy are by necessity highly correlated; our basic local needs have become dependent upon a hyper-complex, integrated, tightly-coupled global fabric of exchange; our primary infrastructure is dependent upon the operation of this fabric and global economies of scale; credit is the integral part of the fabric of our monetary, economic and trade systems; a credit market must collapse in a contracting economy, and so on.”
Feasta & The Risk/Resilience Network
15th MarchTipping Point
Near-Term Systemic Implications of a Peak in Global Oil Production
read the whole thing here: http://www.feasta.org/documents/risk_resilience/Tipping_Point_summary.php