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It's the Growth for Gosh Sakes!

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Mike Folkerth
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Good Morning Middle America, your King of Simple News is on the air…again.


Every so often I feel compelled to go back to the roots of “The Biggest Lie Ever Believed.” Our economy is based on impossible math which suggests that exponential growth is possible in a finite world. It isn’t.

But those who continually promise to defeat the “exact science” continue to win over the truth tellers. And that is because we want to believe there is an easy path to prosperity. There is a path alright, but it leads to a little wooden house out back, the more glorified of which are called “two holers.”


I just read an Energy Department report predicting that our fossil fuels consumption will grow by more than 50% over the next 20 years. The report suggested that China would have something to do with that increase as they are expected to experience continual economic growth.


When I see the words “economic growth” and “continual” in the same sentence, I go into what can be best described as a “wall-eyed fit.” After I recover from my fit, I start writing bad things about our leaders and government agencies.


The Energy Department is one of the agencies that I write bad things about. Under the steady hand of the Energy Department, which was created to help the U.S. become independent of foreign energy, the U.S. has steadily gone down the tubes in the area of foreign energy dependence. Since 1977, we have gone from being 46.5% dependent to approximately 75% dependent on kindly foreign nations that hate our guts.


Ordinary people may ask why we would become so dependent on others. But not the King of Simple News reading people; we know why. We know that the U.S. doesn’t have enough oil to run this outfit and if we really want to drive to work today, we’ll have to do it with someone else’s oil or get a bike.


The report went on to predict that the world’s demand for liquid fuels — mostly oil — will continue to grow to 113 million barrels a day by 2030, nearly a third more than is consumed today.


That should be quite a trick, since most sane geophysicists believe that maximum global production is in the range of 78,000,000 barrels per day. That leaves 35,000,000 barrels per day being produced under item 3 of plan “B” which reads, “and then there will be a miracle.”

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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...)
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