In 1970 oil extraction in the U.S.A. peaked and began to decline. Do you remember the crisis it caused in the U.S. economy? It seems that right now Saudi Arabia has peaked. I say this because for months the Saudis have been saying they would increase production to stabilze the price of a barrel of oil, but the price of oil keeps increasing while Saudi production remains about constant. If Saudi production has peaked it is very likely that world production has peaked.
What does this have to do with suburbs? Well, suburbs have been built on the farm land that used to surround our cities. Those farms are gone, never to come back. This means that with less oil cities will have to import food from farther away with more expensive fuel.
An economic Hell is waiting for us and our children.
17 hours ago
1 comment:
I wish that after 911 we'd invested more heavily in alternative energy sources. I really fear you're right about this. Perhaps it's not too late. I don't know.
-Doug
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