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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Are you a locavore?
  • Date: Tue, 22 May 2007 13:41:24 EDT




> The rock reefs on the lee
> shore are mostly peak oil and global warming.

A third thing: the real estate/debt crash under way. It isn't just real
estate but rather all assets are inflated in value, it's only the great
amount
of imagined wealth tied up in real estate and the uncollectable loans that
inflated its value.


As to peak oil, a few months ago the thinkers and pontificators were saying
that Saudi Arabia (and especially the Ghawar reserve) had peaked. If SA
peaks, essentially the world peaks. The test would be this May/June. As
demand
rises, if SA steps in with increased production, they were not at peak after
all. If they decline, giving whatever excuse, they have peaked.

They declined. No matter the demand, they can't produce any more than they
are producing right now. North Sea is in decline, Cantarell is in decline,
Alaska North Slope and Prudoe Bay are in decline, major oil field is in
decline
with the new smaller oil fields not able to replace the decline.

Do you find it curious that the the proffered reason for the increase in
gasoline prices is the bottleneck of refinery capacity and yet no service
station,
mega store, convenience store, no one is actually short on gas? No pumps
have 'out of gas' signs on them?

It is amazing people's capacity to look past the stark and obvious when it
threatens their lifestyle. It is not possible, not even possible for real
estate to go down in value. It is not possible for gold to lose its value
except
for bullets and fishing sinkers. It is just not possible,. not even
possible,
not to be examined nor entertained that the world has now consumed half of
all
its recoverable oil and the rest will be very expensive. We just can't
consider it.

Must be the refineries. </HTML>




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