Realitychecker

What the IEA Doesn't Want You to Know About Peak Oil

The dangers of declining energy availability have been recognised but not debated in the mainstream media by politicians for over 50 years, as this remarkably prescient article written by Admiral Hyman Rickover in 1957 shows.

www.energybulletin.net...

As Lionel Badel’s excellent article strongly suggests, globally speaking, governments of all political persuasions still don't want to debate this topic publically. One can only speculate on the reasons for their timidity, but I believe it's because their financial sponsors want them to maintain the "business as usual" approach of continuous economic growth. That this economic model is unsustainable on a planet endowed with finite fossil fuel (and other mineral) resources appears to be incomprehensible to our governing elites.

The proof of this incomprehension is illustrated by the vast sums of (virtual) money being created to stimulate economies around the globe. Ironically, this approach had it been adopted in the 1930's would probably have prevented the decade long depression, because oil was relatively cheap and abundant so economic activity would have recommenced. Unfortunately this is no longer the case today, so the current financial stimulus policies will almost certainly fail to achieve its objective, since energy shortages will choke off economic recovery.