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Thursday, March 3, 2016

oil economy lies 7


OIL ECONOMY LIES #7

Lie #5 ( continued ).  [ lie #5: Fracking Oil has made the US energy independent ].

Now, obviously, just by visiting any gas station in the country, you can see that nobody in power is the least bit interested in halting the ethanol fiasco any time soon.  When the Kenyan House Negro promised Hope And Change what he obviously meant in New Lawyer Speak ( “what is the definition of “is”? ) was “I HOPE you understand that nothing is going to CHANGE”.  Ethanol makes corporations and banks more profitable and it is a great talking point to fool most citizens.  Just as the Roman Senators had no interest that their soil degradation program was harming the empire ( one imagines the unofficial slogan of the Rome elite was “what’s good for our business is good for Rome” but all prettied up in Latin ), so no American politician or CEO gives two craps about the future of their country outside the next business quarter or the next election cycle.  And if you are anti-profit you are a communist or a terrorist.  But as bad as ethanol was, fracking oil and gas are far worse.

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Ethanol has a built in demand, as the excuse behind its use was originally a replacement of a far more toxic and poisonous additive ( I believe it was to create less smog or something to do with winter fuel.  I’m not real sure and see little need to research the point ).  The “energy independence” aspect of it was secondary.  Whatever amount of gasoline your SUV Soccer Moms use up, you are guaranteed 10% of that will be ethanol.   Even if you overbuild plants, the effects are limited to a few farm states.  Fracking however, has far more insidious economic consequences.  Forget all the pollution issues with fracking ( and, there are many ).  Forget it was the wool over the voters eyes promising them Energy Independence and lulling them back to sleep ( how many houses and cars, at insanely inflated costs, were sold to fools believing in the Thousand Year Fracking Reich? ).  I’d be more worried about the energy sector, most specifically fracking, being tied to the Derivatives Market.  Since banks are so overextended in debt to assets, just a small failure rate can unwind the whole mess.  We already know the fracking players are going tits up, as the global demand for energy and other commodities is falling into the toilet ( nobody can afford to spend and consume anymore, outside a small percentage of the Rapers And Pillagers ). 

*

And even if that fear is overblown, or turns out to be unjustified, don’t forget that the fracking fields were drying up anyway.  What the elites needed to save the global economy this time around was a restart of the Cheap And Plentiful Oil Age.  What they came up with was a limited supply of expensive oil substitute.  The once short lived abundant frack fields were already in steep terminal decline.  The global slowdown just pushed up their collapse a year or two ( which should be a lesson to everyone that you can’t time the collapse ).  Fracking is the miracle that never was.

END
 
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20 comments:

  1. Fracking was not meant to be more than a short horse and pony show. when the major oil companies sat on the sidelines and let startups go hog wild it told me they had done the math. Now fracking HAS destabilized the entire middle east and saved the government billions in having to do it . The bankers and the big 7 oil company's control Iraq's reserves with U.S. military protection. Factoid Iraq today pumps no more oil today than it did in 1970. With the low extraction rate it may have reserves dwarfing other OPec nations. Fracking has bought The U.S 4 years to build production and extraction infrastructure to keep the region in conflict for decades .

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    1. Ah,no. Iraq has been pumped for over a hundred years ( or very close to it ). Their reserves ain't another Saudi waiting to happen. I call "pipedream".

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    2. That's not what I meant . Iraq's reserve has been at a steady rate without injection and few new well's. The cost per barrel is lowest in the region. We gave it a swing production capacity if others slash production to support 100$ a barrel price. If the house of Saud falls its our backup. Fracking just bought us time and destabilize OPEC economy's .

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    3. in '73 Iraq pumped 1.5mbpd. 2014 it was 3.5 and last year 4. The jump was probably not sustainable. So, you're saying production one third of Saudi is our back-up? That is a piss-poor plan. Of course, Saudi is poised to fall big time in production and so I see where you are coming from with the steady production (I think the more realistic figure is 2.5 a day given production history ) but the reported reserves are a fabrication as they have not been revised since 2000. 2.5 barely covers what we lose after fracking and that doesn't count the military occupation cost.

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  2. Fed bred junk credit fueled the flames. A large number of small business men where out competed by credit junkies on the road to bankruptcy. We didn't go bankrupt. We just had our American dream pisssed all over. As a side note I just read a wonderful book called Deep Survival.

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    1. Just bought Deep Survival ( plenty for sale 0.01 each plus shipping ) and On Combat:
      http://www.amazon.com/gp/product/0964920549?dpID=51nJrF5Fz6L&dpSrc=sims&preST=_SL500_SR129%2C160_&refRID=4406EGEFRZCE056HPQXY&ref_=pd_lutyp_cxhsh_1_2

      Many thanks for the heads up.

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  3. Don't worry about the collapse, worry about the Tribulation.

    Septemer 2029 the beginning of the Tribulation and the end of the age of the Gentiles. Two witnesses will appear in Jerusalem, Temple worship will begin and the Jewish Exile is over, the Great Tribulation begins.

    And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth. Rev. 6:8

    What can we do? Repent and believe in the Lord.

    Then Peter said unto them, Repent, and be baptized every one of you in the name of Jesus Christ for the remission of sins, and ye shall receive the gift of the Holy Ghost.For the promise is unto you, and to your children, and to all that are afar off, even as many as the Lord our God shall call. Acts 2 : 38-39

    diakonos

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    1. Not to blaspheme, but...the crap we have until 2029. Not just because the date interpretation might be wrong but the center cannot hold that long.

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    2. 13 years from now? I suspect things will be worse but other than select areas some ( probably lesser than now ) level of global commerce and communication will probably be going on. And for a couple of dozen years past isn't impossible either even if things terribly much more unstable.

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    3. 13 years from now will be the first year I can draw the reduced amount of social security ( if I recall correctly it is 64 for half, 67 for full ). I don't think the FedGov will be there for me.

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    4. Ron Paul GUARANTEES that you will get a SSI check. He cannot guarantee the buying power of the check. I'm thinking cellphone bill, not 250 square foot apartment rent (currently $1170.00 +utilities in pdx).

      pdxr13

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    5. ANY politician can guarantee a check without purchasing power. Hell, even Hilary or Obammy. The Donald probably wouldn't as he'll be too busy skimming it off for his corporate buddies and hairpieces. Good thing I already have my homeless camp set up. I'll change the other homeless fees in FoodStamps to charge their cell phones with my solar.

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    6. Cell phone battery and SLA battery charging is a serious segment of commerce in rural African villages. I wouldn't take any federal low-grade currency like EBT, instead get some work like bunker digging or rock-removal from garden if they lack silver money. There's always trading for a book you want (Amazon Drone Courier) if they have electronic funds available.

      pdxr13

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    7. Good point. They can buy the food for me.

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  4. JJ Grey is correct. Global commerce and communication will continue.

    James M. Dakin, don't put your trust in the FedGov. Trust in the Lord.

    diakonos

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  5. Nancy Reagan made it to the ripe old age of 94. Dang James, rich people sure live a long time don't they? I think I recall that you mentioned having lived in the bay area in the 80's? I couldn't help but remember all the lewd sexual comments that DJ Dennis Erectus from KOME used to make about her. But I did come across a great quote that describes the “just say no” and “sexually explicit lyrics” crowd, and it goes like this:

    “Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.”
    ― C.S. Lewis

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    1. I wonder if CS wrote that after Prohibition. In the 80's I lived in central Cali, Lompoc out of Vanderburg AFB, one hour from Santa Barbara. Moved back from the military to a town on the Sierra foothills on I-80. No where near SF.

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    2. Oh, yeh, then up off I-5 towards the coast, middle of nowhere. Happy Camp.

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    3. “I wonder if CS wrote that after Prohibition.”

      Best I can tell James, it looks like it was part of an of essay that he wrote in 1948 titled “God in the dock”. Apparently it was published posthumously in 1970. It looks like my friend who sent me the quote did not include the full quote, so I added it below. The last sentence is particularly telling.

      “Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. They may be more likely to go to Heaven yet at the same time likelier to make a Hell of earth. This very kindness stings with intolerable insult. To be "cured" against one's will and cured of states which we may not regard as disease is to be put on a level of those who have not yet reached the age of reason or those who never will; to be classed with infants, imbeciles, and domestic animals.”

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    4. Yes, much better with the full quote.

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