Exclusive to OpEdNews:
OpEdNews Op Eds

Thinking the Unthinkable; The End of Oil:

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) , Add Tags  (less...) Add to My Group(s)

View Ratings | Rate It

opednews.com

- Advertisement -

Good Morning Middle America, Your King of Simple News is on the air.

U.S. News: Oil climbed above $135 this morning and seems to have legs to go further. Is the cause for the spike the high oil company profits that the presidential candidates are screaming about? No, the presidential candidates are world champion fabricators searching for a distraction form the truth.

So if not high profits, is it the shrinking dollar that is driving the oil price skyward? Nah, the devaluation of the dollar has some influence, but not much. So it must be the speculators that Wall Street talks about huh? No, not that either, speculators couldn’t speculate long if no one paid the asking price for oil.

The legendary oil man T. Boone Pickens put it nicely yesterday when he explained that daily demand for crude is more than 2,000,000 barrels higher than production. He also explained that world production has peaked. Uh-oh, it’s that darn economics 101 in play again.

Just a tid-bit of information that you may find useful; King George went to Saudi Arabia and asked them to turn up the juice a little. The Prince for all practical purposes told the King that, “She won’t take no more captain, we’re doing all she’ll stand.” Besides, the U.S. uses more oil per day, than the entire nation of Saudi Arabia produces!

My opinion is that nothing short of a world recession could significantly lower the price of crude. And, should there actually be a deep world recession; the price of crude may be well down on your list of concerns.

What I’m saying is that the world is running out of oil and we have no plan “B” for that coming event. As the imbalance in supply and demand increases…well lets say affordability will become an issue of great concern to motor home drivers.

Not being able to afford oil, is the same as not having oil. And, that will be the fate of many Americans, which fate will follow the standard practice of rising from the bottom up. When our poorest people can’t afford fuel for a motor scooter, our more affluent will be taking shorter trips to Europe on their private jets.

- Advertisement -

Running out of oil is a terrible thought that I’m thinkin’ few have ever thought. Am I correct? One of those TV lawyers that offer to fight for your rights may influence manmade law, but they don’t have much influence on the “big guy” when it comes to universal law.

I know what some of you are thinking… “Technology will come up with a new fuel, so why worry?” We don’t pave roads and make plastic with technology, we pave roads and make plastic with oil. Technology is simply a tool to make things work better, not a substitute for natural resources. “Well Bill, we’re out of concrete, what say we pour this floor with technology?”

The American geophysicist, Marion King Hubbert had this to say, “We are not in the position we were in 1929-30 with regard to the future. Then the physical system was ready to roll. This time it’s not. We are in a crisis in the evolution of human society. It’s unique to both human and geologic history. It has never happened before and it can’t possibly happen again. You can only use oil once.”

On June 4th, 1974 Hubbert testified before Representative Morris K. Udall’s Subcommittee on the Environment. He stated “during the last two centuries of unbroken industrial growth we have evolved what amounts to an exponential-growth culture. Our institutions, our legal system, our financial system, and our most cherished folkways and beliefs are all based upon the premise of continuing growth, Since physical and biological constraints make it impossible to continue such rates of growth indefinitely, it is inevitable that with the slowing down in the rates of physical growth cultural adjustments must be made.”

So what did Morris K. Udall have to say? ,–”this inflation that we are all so concerned about now may not necessarily be mismanagement of the economy or some temporary problems necessarily, but may be built into this whole problem of exponential growth in terms of the population and use of resources, and so on. Is that what you are saying?”

- Advertisement -

And the good Dr. Hubbert answered, “It has been going on, the record is unequivocal, since 1910, disregarding the disturbance of World War I.”

So….Congress admittedly knew we had a problem in 1974? Coining the phrase from the good Dr. Hubbert, “the record is unequivocal.”

 

www.kingofsimple.com

Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Will Our Economy EVER Recover?

Fox News on Georgian Invasion; Not Exactly What They Wanted:

Paradigm Shift; Change Your Life:

U.S. Auto Industry is in Recession:

Housing Predictions:

Choosing Sides; Who Would You Pick?

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
18 people are discussing this page, with 33 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)
If, twenty years ago when first found to be viable... by Steve Windisch (jibbguy) on Thursday, May 22, 2008 at 8:34:47 AM
I wrote a previous article to debunk your theory o... by Mike Folkerth on Thursday, May 22, 2008 at 8:56:30 AM
There is indeed a serious conspiracy, and G.M. is ... by Steve Windisch (jibbguy) on Thursday, May 22, 2008 at 6:34:19 PM
You wrote:We are damn tired of people who think th... by Amanda Lang on Thursday, May 22, 2008 at 7:57:03 PM
google these, they're all over the technology ... by Better World Order on Thursday, May 22, 2008 at 6:51:11 PM
Mike Folkerth illustrates vividly America's di... by Frosty Wooldridge on Thursday, May 22, 2008 at 9:41:42 AM
 "Our three prez candidates don't ha... by richard on Thursday, May 22, 2008 at 9:19:33 PM
I  find it curious that we have hit "pea... by Susan Nelsen on Thursday, May 22, 2008 at 11:00:20 AM
The scientific theory of 'peak oil' was fi... by Amanda Lang on Thursday, May 22, 2008 at 8:12:30 PM
Big Oil is still deeply involved in a scam to keep... by John Sanchez Jr. on Thursday, May 22, 2008 at 11:12:01 AM
You know all those places where these companies ar... by Amanda Lang on Thursday, May 22, 2008 at 8:24:13 PM
Here's a documentation of either a small piece... by meremark on Friday, May 23, 2008 at 12:41:50 AM
I understand it is imperative that we get awa... by Munich on Thursday, May 22, 2008 at 11:56:50 AM
Marion King Hubbert, the American Geophysicist pre... by Mike Folkerth on Thursday, May 22, 2008 at 1:11:50 PM
While oil is not infinite, there are PLENTY of sou... by steve scheetz on Thursday, May 22, 2008 at 1:40:12 PM
I do believe that in the 1970's when we were g... by beccy on Friday, May 23, 2008 at 7:41:27 PM
that was why we had the issues back then.... &n... by steve scheetz on Thursday, May 22, 2008 at 1:26:38 PM
Also respectfully, there is not 150 or 200 years o... by Mike Folkerth on Thursday, May 22, 2008 at 4:03:04 PM
I really don't know what I was thinking sayin... by steve scheetz on Thursday, May 22, 2008 at 9:55:33 PM
Yes, I can debunk Anderson. Gull Island is not a s... by Mike Folkerth on Thursday, May 22, 2008 at 4:32:27 PM
it is as simple as that-- population grouth faster... by TRADESMAN on Thursday, May 22, 2008 at 7:02:05 PM
After the shortages during the Carter administrati... by WML on Thursday, May 22, 2008 at 7:22:07 PM
Interesting article here.  http://www.gl... by pft on Thursday, May 22, 2008 at 7:36:51 PM
I founded AESOP Institute, a non-profit organizati... by Mark Goldes on Thursday, May 22, 2008 at 7:39:51 PM
There is little more that I can say. Regardless of... by Mike Folkerth on Thursday, May 22, 2008 at 8:16:27 PM
Ok, lets go back to numbers, since you do not beli... by pft on Thursday, May 22, 2008 at 8:50:03 PM
You seem to know what you are talking about, a lot... by David C Beach on Thursday, May 22, 2008 at 9:20:21 PM
But wait a minute here.  Let me enter the ill... by pft on Thursday, May 22, 2008 at 10:18:56 PM
There is a point, a price that becomes too high fo... by David C Beach on Friday, May 23, 2008 at 5:08:02 AM
  The consumption of global oil is 85 bbd, n... by Mike Folkerth on Friday, May 23, 2008 at 8:03:46 AM
"The consumption of global oil is 85 bbd, not... by pft on Friday, May 23, 2008 at 8:45:06 PM
to everyone who commented. Technology is a tool us... by Mike Folkerth on Friday, May 23, 2008 at 8:20:31 AM
...for getting this discussion to the fore for one... by waldopaper on Friday, May 23, 2008 at 9:39:12 AM