Andrew Hughes

Is the Second Great Depression Imminent?

Peak Oil has been on the investigative horizon for quite a while now. Mike Ruppert of Fromthewilderness.com did some excellent research which is still available on the website. The one aspect that needs to be carefully thought through is the alternative energy scenario. Hydrogen costs more energy in production than it delivers to the end user. Etahanol cannot replace oil as a means of transportation fuel because it would take too much land away from food production. But the really important point to remember is that Oil derived products comprise a huge percentage of the raw materials that run the modern economy. Plastics, fertilizers, insecticides. Bottom line, if we did not have Oil tomorrow, all industrial production would stop, people would starve. There should have been much more serious research done to pre-empt a supply shortage but not enough has been done. Whether Peak oil has arrived or is on the short or long term horizon, should not deter the urgent investment in realistic alternatives. The golden rule here is simply that energy creation is just a part of the whole system. Any development has to take in to account the effect it has on all parts of this sytem.