User 319928

Is the Second Great Depression Imminent?

Lionel,

It’s always good to see you on the screen again. Great article mate. The current situation we are witnessing is grave beyond anything we have previously imagined. Luckily, we are slowly warming up to the reality we’ll be waking up to in a few short years.

Due to cuts in oil industry capital expenditure, the tap is becoming smaller, capping production much like a trailing stop-loss order on a short trade – the ceiling will continue getting lower. This is what I fear more than anything else as the catalyst initiating the critical chain of events transitioning us down the slope into nightmare valley.

Birol now acknowledges the peak oil reality and has even put a number to it. 2020 is in my opinion way to optimistic, as I’m sure many would agree but it’s a start. It seems ITPOES and Screbowski have hit the nail on the head, spitting out a 2013 date, at the latest. That gives us four years folks. We need to double, triple and quadruple our efforts in building momentum on proliferating the peak oil message.

Michael Pinilla
AlienWorld