Friday, April 17, 2009

The Great (Peak Oil) Recession, Who's to Blame, and How People Adjust, TIME/CNN, April 17, 2009

Here you find lots on: who is to blame for the financial crisis; how some people in the U.S. are adjusting to the "Great Recession;" photos of failed retail stores; and a poll on attitudes; and how people are handling the "recession."

But there is not a photo display of how this impacts poor Americans or those in the economically less developed countries.

Missing on the blame list are those who issued fairy tales about future oil production and future oil prices -- the Energy Information Agency (EIA), International Energy Agency (IEA), U.S. Geological Survey (USGS), Cambridge Energy Research Associates, and private and national oil companies.

There is no mention of Peak Oil or high oil prices. No mention that last year economists quoted in "The Wall Street Journal" said that if oil goes above $125 per barrel we will go into recession. No mention that Dr. Colin Campbell, ASPO Ireland, ASPO International, Congressman Roscoe Bartlett, the U.S. General Accountability Office, the Hirsch report, Jim Puplava, James Kunstler, Chris Shaw, Gail the Actuary, Matt Savinar, Peter Goodchild, Kathy McMahon, me, and many others warned about a looming Peak Oil recession. And no mention that many voices now warn that the recession will grow into an ever worsening economic depression.

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