Not saying I agree that peak oil is here yet, but if it is, I think our civilization will survive.* It might hit a rough patch, but we’re not all going to die.
Here is a good article on why we shouldn’t be too concerned: Peak Everything?
Stanford University economist Paul Romer has observed, “Every generation has perceived the limits to growth that finite resources and undesirable side effects would pose if no new recipes or ideas were discovered. And every generation has underestimated the potential for finding new recipes and ideas. We consistently fail to grasp how many ideas remain to be discovered. The difficulty is the same one we have with compounding: possibilities do not merely add up; they multiply.” The above examples show that while the production of physical supplies of resources may peak, there is no sign that human creativity is about to peak.
You should still be concerned about preparing for disasters and such, but be level-headed.
* Barring the 2nd coming of Christ…
It seems the economic acumen of Obama and the Democrats isn’t what they claimed during the election.
That or they’re just reckless.
The Obama administration boasted yesterday that with $16 billion taken from you and given to others, 30,383 working Americans owe a hearty thanks of gratitude for their jobs.
Nationally, 30,000 jobs were created by $16 billion in contracts.
I can’t wait to vote these bums out. Unfortunately the damage is already done.
The president has worked tirelessly since even before his inauguration to wrest control of the U.S. economy from failed free markets, and the evil CEOs who profit from them, and to turn it over to wise, fair and benevolent bureaucrats.
At least it wasn’t Paul Krugman this time.