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  Beware ... the Lunatic Fringe venue

 

March 27th 2009 ~ Dire forecasts for energy, climate change & the economy abound 'cuz their authors and most of the Media lack a sense of perspective.  This venue seeks to expose high profile abusers ... ambassadors of The Lunatic Fringe!

Many pseudo futurists are plainly wrong and/or purveyors of bad science.  Others may actually be right about what they see coming down the road, but they have trouble with the timing.  They fall victim to the phenom of instant gratification.  They unconsciously advance the probable dates of what is coming ... or they purposely accelerate the date knowing that their audience has an unquenchable anticipation to see the future come sooner.

The best forecasters: (a) are not always correct but certainly better than most of their peers, and (b) have a very low level of false positives.  This latter point weeds out those annual prognosticators that by default will have to be right "some day" ... the broken clock is right twice-a-day factor.

My own acid test to gauge futurists involves the due diligence of examining their unfolding evidence for the trickery of an absence of time lines to sell their books, attract web hits and arrange speaking engagements.  Next time u are at a doomster site, look for dates...

In what year will the globe be down to 1 billion?  In what year will they bulldoze the suburbs and use the salvage to rebuild in the city cores?  In what year will North Americans no longer have cars?  In what year will China not be able to find or afford fuel for export freighters?  In what year will the Antarctic be ice free and similarly, in what year will NYC be under nine metres of water? (hint:  the Hadley GCM Model says only 26cm/10in by 2100!

When "they" start giving time lines, it opens up their rhetoric for challenges.  That is the acid test of a good forecast site.

Lastly, we condemn their facilitators:  media commentators that want to pump their ratings by a dash of hysteria;  or use their soapbox to promote their own leftist agenda.

 

Dec 2  2007 - A great many people luv the WWWeb 'cuz they can go to it for a second opinion and due diligence in researching the News.  Unfortunately a great many of 'em are hitting websites that mirror their preconceptions and bias ...

The web is an awesome place to search whether u are a kid or an academic.  But for the many that are vulnerable and gullible, there are a cornucopia of sites that prey on those souls.  Their appetite quenched, they become sociopaths in our midst.  Cancers of doom that pollute their workplaces, their neighbourhoods & their families with urban legends and conspiracy theories.

It is easy to recognize these gloom merchants.  Most have failed careers, marriages or investments and take glee in the coming day when the rest of society will join them in grief...

Folks, everyone has the right to be wrong about something now and then.  Use the Web to learn.  But if u surf the fibre optic hi-way only to spread nonsense, please get help...

 what's new, eh? ... new ambassadors added:

[New!]Susan Bonner, Peter Mansbridge, Jane Taber, Rachel Maddow, Chris Matthews, New York Times & Wolf Blitzer are Eager Facilitators for Ambassadors of the Lunatic Fringe

[New!]Jeff Rubin  (pseudo american-economist said PEAK OIL will bring $225/barrel oil & $7/gallon gasoline ... and today is an ex-CIBC World Markets employee)

~ James Howard Kunstler  (let's bulldoze American subdivisions & all live like the Amish & Mennonites)

~ Matt Simmons  (29% crash in All Liquids oil production by 2015 ... down to 65-mbd from 84;  $600/barrel crude price on the way;  War on Rust would cost $100 Trillion in next 7 years)

~ Ken Deffeyes  (start of the Second Great Depression)

~ Matt Savinar  (Life After the Oil Crash LATOC website)

Canadian & USA Politics Climate Change Media Facilitators Pseudo Economists McPeaksters  (Peak Oil Depletion) McDoomers  (Peak Oil Depletion

 

Media Facilitators

 

April 10 2009 ~ (rev 90410) The voice of the Lunatic Fringe would be quite moot had it not been for facilitators in the Main Stream Media (MSM).  The Media after all, is no stranger to selling its soul in the quest to maintain/raise RATINGS.  Lest we forget the cozy relationship in Y2k when financial channels, investment banks, and their analysts together drove the dotcom stock bubble during the episode Fed chairman Greenspan called "irrational exuberance".

I call your attention to the liberal leftist members of the MSM:

(a)  the pacifists who ridicule our participation and undermine UN, NATO & Coalition missions.  They fail to comprehend the late 20th Century concept of peace-making and the need for diligence.

(b)  the Economics 101-challenged who talk down the Economy with every opportunity with clear intent to break Confidence among consumers and commerce to bring on or extend financial contractions.

(c)  leanings to political correctness, social engineering & excessive rights for homosexuals

Their mission is to inflame controversy and polarize political factions.  They employ disinformation techniques and quote out-of-context.  They are adversarial & many are Cassandras.  They attempt to "make" the News, rather than "report" it.  With deep socialist leanings, many of them are recognizable by their third season of nauseous fawning over Barack Obama.  And of course most of them are all to ready to grant interviews to ambassadors of the Lunatic Fringe.

These are not objective journalists.  They are agenda-driven.  Current gloom merchants include:

CBC:  Susan Bonner & Peter Mansbridge

CTV:  Jane Taber

MSNBC:  Rachel Maddow  (the angry lesbian) & Chris Matthews

New York Times:  almost whole editorial staff

CNN:  Wolf Blitzer

But their incessant insults of the Right, the Religious, Capitalists, Free Enterprise & our troops has caught up with them.  Not caring that these categories are major constituents of their audience, they are being TUNED OUT>

Impatient with their musings, victims of their venom will not voluntarily listen forever.  Subscriptions are being cancelled.  Websites are being shunned.  Couch potatoes have found THE POWER OF THE CLICKER.

The diminished audiences has led to reduced Ad revenue and outright Advertiser cancellations.  Very pleased with reports that all these venues are presently in financial turmoil...

 

Canadian & USA Politics Climate Change Media Facilitators Pseudo Economists McPeaksters  (Peak Oil Depletion) McDoomers  (Peak Oil Depletion

 

Pseudo Economists

 

Jeff Rubin

April 3 2009 ~ (rev 91208) It is no accident that CIBC World Markets was Canada's only casualty of the sub prime mortgage & derivative trading fiascos.  Jeff Rubin, a pseudo-american economist, is an embarrassment to our industry.  Rubin is the poster boy for not-so-objective analysts that facilitated Crude Price Bubble that caused gasoline to rocket to over $4/gallon.

On January 10 2008, Rubin's 2012 targets for oil & gasoline were $150/barrel & $4.50/gallon.  By April 24, he had bumped the forecasts to $225 & $7 respectively.

In a July 31 2008 Fox interview, only days before economic contraction turned into a Severe Recession, he was ill-advising the Federal Reserve to raise interest rates 2% to avert 6% Inflation by January 2009.  By Oct 31 2008, three months into the $94/barrel collapse of the Contract Crude Price, Rubin remained confident the Recession would be over by January 2009, with the Unemployment Rate cresting shortly at 7%. and that new oil price records would be set in 2009.

Just days before becoming an ex-CIBC analyst, March 2 2009, he predicted US New Car sales will stay below the 9-million/yr threshold until 2014.  Unfortunately, since bottoming that Spring @ 9.1 units, they had already climbed back to 10.9 million by November.

And what was the foundation for his dire forecasts?  PEAK OIL

Rubin is yet another 2-star ambassador for the Lunatic Fringe with a message that OIL PEAKED in 2008 and the repercussions will be apocalyptic.  The end of the world as we know it.  Globalization and exports are dead.  As of January 23 2009, he was still predicting that triple digit Crude Prices will return in 2010.  In a October 26 2009 update to ASPO-USA, he forecasts $100/barrel oil and $4/gallon gasoline by Spring 2010.

Rubin has illustrated gross ignorance of the effects of rising energy prices on an American economy already thrown into a Technical Recession by the Housing Bubble.  Rubin continues to blame oil for the Recession.

Since 2004, TrendLiners have been privy to the knowledge that Crude Prices in excess of $70/barrel were unsustainable.  Rubin's positions on future crude production & Energy Prices can only bring one to the realization that his irrational exuberance and rationalization of oil & gas price fundamentals is akin to the analysts that promoted tech stocks via pie-in-the-sky revenue projections and ludicrous forward Price/Earnings Ratios thru the dotcom bomb.

 

 
Canadian & USA Politics Climate Change Media Facilitators Pseudo Economists McPeaksters  (Peak Oil Depletion) McDoomers  (Peak Oil Depletion

McDoomers  (Economic Collapse of the USA)

 

James Howard Kunstler

March 30 2009 ~ (rev 90413) James Howard Kunstler is another 2-star ambassador of the Lunatic Fringe ... both a McDoomer & a McPeakster.  One of those poor souls that believes oil is going to fall off a cliff ... 3 to 5% per year he states.  Odd, considering that the consensus among geologists in our TrendLines Scenarios AVG is a mere 0.7%.   My own Peak Scenario 2300 indicates 2.2% per annum.  But hey, why let facts get in the way of good book sales and lucrative speaking tours, eh!  He is neither a geologist nor a futurist.  Kunstler majored in Theater at SUNY Brockport (near Rochester) in 1971 and apprenticed at Rolling Stone Magazine.  He has been putting on a show ever since...

Let's start with this Aug 24 2005 pre-article commentary by columnist Robert Birnbaum of The Morning News website:  "Even more troublesome to me is the fact that no major newspapers have deigned to review James Kunstler’s book.  Since he is no crank and the book is not rife with crackpot theories that it has not been introduced into the public conversation is, by my thinking, a serious disservice.  I contacted a number of book review editors to inquire why this book has not been reviewed. None chose to respond. Go figure."

Here are some of Kunstler's musings revealed in the TMN interview:

JHK:  It’s about the global oil predicament.  And that predicament is that we are reaching the worldwide oil production peak, top, highest level of production ever and after that we are going to go down a slippery slope of remorseless—

RB:  A steep decline?

JHK:  We don’t know how steep it’s going to be. The estimate is about three to five percent a year. But it will be a remorseless slope of depletion. And that three to five percent will add up very quickly and we saw in the U.S. what happened [in the 1970s].

Yeah, and people generally misunderstand what the implications are. A lot of people think it’s about running out of oil. It isn’t particularly about running out of oil. It’s about living in an industrial society that can no longer expect to have more energy but only remorselessly less energy.

My point about that really came from this idea that anything that is operating at the gigantic scale now in our society, government, the large-scale farming model based on the Archer Daniels Midland Cheese Doodle and Pepsi Cola agricultural model, or the Wal-Mart model of commerce or the large centralized high school—any of these gigantic scale things are going to either wither away or fail or not work well under the conditions that we are moving into.  Our lives are going to be greatly downscaled and are going to be profoundly local and the larger things in our lives are going to fade away.  Including the federal government.  My friends back home are all wringing their hands over George Bush becoming the next Adolf Hitler—

People in Atlanta and in Silicon Valley will not be able to get to work.  People in Los Angeles will not be able to feed themselves.  People in Atlanta may not be able to feed themselves.

When I say the core I don’t necessarily mean the downtown business districts.  Those parts are going to be very, very problematical, and that’s another important point you have made.  The places that are overburdened with mega-structures, whether they are skyscrapers or even just large buildings, are going to be in real trouble.  These are experimental building types that have only been with us for 100 years.  I’m even talking about 10-story pre-war apartment buildings.  I don’t know if we can run them in the energy-scarce economy that we are going to have in the future.

(cont'd above)

And it raises one really interesting question like the question of—take this for example—modern plumbing as we know it, where every apartment has a bathroom, a toilet, etc., is totally dependent on central heating, good and dependable central heating.  You can’t be running space heaters in a 10-story Manhattan apartment building.  If one-third of the building or one-eighth of the building isn’t warm enough to keep the pipes from freezing, the whole building is going to lose its plumbing and then the building is going to become dysfunctional and we don’t know if this is going to happen or not.  And it could.  Because the natural gas situation in America—which is how we heat most of our buildings now—is arguably more ominous than the oil situation.

So we have a lot of problems.  It’s my belief that as we enter this period of disorder and travail and hardship and economic trouble, that among other things we will probably begin to ignore are a lot of the codes and regulations that we cooked up in the late 20th century because we won’t be able to afford to follow them.  People are really going to have to improvise their way through this including rebuilding America on something more than a single-story basis and something less than a ten-story basis.

My reference earlier was to politics.  We are liable to see more despotic politics on the local level because there is going to be a desperate need for authority and people may turn to not the nicest characters.  We will have to make certain expeditious decisions about things, like whether we prevent someone from building a three-story house without an elevator because can’t afford to do that anymore.  And yet our laws stipulate that we have to have elevators in virtually every building.  I am not against keeping handicapped people from getting around.  I am saying it has been a luxury of this tremendously affluent period of our history, that we have been able to mandate that.  Nothing lasts forever and that is one of the things—and that’s not the only issue in how we rebuild some kind of urban America.

And from TMN's Birnbaum's Jan 27 2009 interview:

JHK:  We need to understand that things like Wal-Mart and Target—they’re not going to function on the leaner energy diet, they’re not going to be able to run the warehouse on wheels.  The just-in-time delivery of products that are made 12,000 miles away, that’s over with.

Well, the agro-business model is very different from the local organic model, in many ways, but what we’re going to find is that it’s not going to be that different in Iowa than it is in the Northeast.  We’re going to have to grow food locally wherever we are in the United States, and the places that can’t do that, like Las Vegas and Tucson, you know, forget about it, they’re going to dry up and blow away.

Well let’s put it this way: This is not going to be imposed from above.  Human societies and economies are emergent and by definition are self-organizing. Circumstances present themselves and societies respond.  I mean, they can respond foolishly—they can elect Nazis, or do other things that societies do in desperation—and I hope that we don’t do anything like that here, although we may—

We’re going to have to inhabit the landscape differently because whether we like it or not, suburbia is going to fail.

The joker in the deck is that we don’t know how disorderly this process is going to be.  As I go around the country one of the things I find is that there’s an assumption—especially by a lot of policy people and environmental techno-wonks—there’s an assumption that we’re entitled to an orderly transition from where we’re at and where we’re going, and I of course don’t buy that at all.

 

Ken Deffeyes

March 28 2009 ~ On Feb 6 2008, geologist Ken Deffeyes wandered from his field of expertise to proclaim that the Second Great Depression had commenced in the USA.  For this ludicrous point of view, he has lots of company.  Economic McDoomers have awaited the collapse of the "American Empire" for a very long time.  He has since expanded his thesis to assert that the Recession commencing in Dec-2007 was caused by Peak Oil.  Deffeyes has the privilege of being a 2-star ambassador of the Lunatic Fringe ... both a McDoomer & a McPeakster

 
 

Matt Savinar

March 27 2009 ~ While at theOilDrum on Oct 5 2005, i ventured this analysis on sites like Life After the Oil Crash (LATOC):

George in Vermont:  "This is my first posting on your site, which I think is great. You all seem to be very well versed in PO, finance, geology, history etc., and I find this to be a great resource.  I'm wondering if the group at any point had commented on the information presented at http://lifeaftertheoilcrash.net?  Are his dire predictions supportable?"

Freddy Hutter:  "Yes and no. And yes. Sites as this use the trickery of an absence of time lines to sell their books and arrange speaking engagements. Next time u are at a doomster site, look for dates...

In what year will the globe be down to 1 billion?


In what year will we bulldoze the suburbs and use the salvage to rebuild in the city cores?


In what year will North Americans no longer have cars?

Heinberg came to Vancouver last year and told us we should start building massive manufacturing plants in the West for shoes, etc 'cuz soon China and other nations will not be able to find or afford fuel for tankers or freighters. Tell us Richard, in what year will that momentous crossover occur?

In what year will the Antarctic be ice free and similarly, in what year will NYC be under nine metres of water? The Hadley GCM Model says only 26cm (about 10 inches) by 2100!

When "they" start giving time lines, it opens up their rhetoric for challenges. That is the acid test of a good site."

   Ref:  theOilDrum   PeakOil Debunked

 

 
Canadian & USA Politics Climate Change Media Facilitators Pseudo Economists McPeaksters  (Peak Oil Depletion) McDoomers  (Peak Oil Depletion

 

McPeaksters  (Peak Oil Depletion)

 

Jeff Rubin

April 3 2009 ~ (rev 90407) It is no accident that CIBC World Markets was Canada's only casualty of the sub prime mortgage & derivative trading fiascos.  Jeff Rubin, a pseudo-american economist, is an embarrassment to our industry.  Rubin is the poster boy for not-so-objective analysts that facilitated Crude Price Bubble that caused gasoline to rocket to over $4/gallon.

On January 10 2008, Rubin's 2012 targets for oil & gasoline were $150/barrel & $4.50/gallon.  By April 24, he had bumped the forecasts to $225 & $7 respectively.

In a July 31 2008 Fox interview, only days before economic contraction turned into a Severe Recession, he was ill-advising the Federal Reserve to raise interest rates 2% to avert 6% Inflation by January 2009.  By Oct 31 2008, three months into the $131/barrel collapse in Crude Price, Rubin remained confident that new records would be set in 2009 and that the Recession would be over by January, with the Unemployment Rate cresting shortly at 7%.

Just days before becoming an ex-CIBC analyst, March 2 2009, he predicted US New Car sales will stay below the 9-million/yr threshold until 2014.  Unfortunately, since bottoming that Spring @ 9.1 units, they had already climbed back to 10.9 million by November.

And what was the foundation for his dire forecasts?  PEAK OIL

Rubin is yet another 2-star ambassador for the Lunatic Fringe with a message that OIL PEAKED in 2008 and the repercussions will be apocalyptic.  The end of the world as we know it.  Globalization and exports are dead.  As of January 23 2009, he was still predicting that triple digit Crude Prices will return in 2010.  In a October 26 2009 update to ASPO-USA, he forecasts $100/barrel oil and $4/gallon gasoline by Spring 2010.

Rubin has illustrated gross ignorance of the effects of rising energy prices on an American economy already thrown into a Technical Recession by the Housing Bubble.  Rubin continues to blame oil for the Recession.

Since 2004, TrendLiners have been privy to the knowledge that Crude Prices in excess of $70/barrel were unsustainable.  Rubin's positions on future crude production & Energy Prices can only bring one to the realization that his irrational exuberance and rationalization of oil & gas price fundamentals is akin to the analysts that promoted tech stocks via pie-in-the-sky revenue projections and ludicrous forward Price/Earnings Ratios thru the dotcom bomb.

 

James Howard Kunstler

March 30 2009 ~ (rev 90413) James Howard Kunstler is another 2-star ambassador of the Lunatic Fringe ... both a McDoomer & a McPeakster.  One of those poor souls that believes oil is going to fall off a cliff ... 3 to 5% per year he states.  Odd, considering that the consensus among geologists in our TrendLines Scenarios AVG is a mere 0.7%.   My own Peak Scenario 2300 indicates 2.2% per annum.  But hey, why let facts get in the way of good book sales and lucrative speaking tours, eh!  He is neither a geologist nor a futurist.  Kunstler majored in Theater at SUNY Brockport (near Rochester) in 1971 and apprenticed at Rolling Stone Magazine.  He has been putting on a show ever since...

Let's start with this Aug 24 2005 pre-article commentary by columnist Robert Birnbaum of The Morning News website:  "Even more troublesome to me is the fact that no major newspapers have deigned to review James Kunstler’s book.  Since he is no crank and the book is not rife with crackpot theories that it has not been introduced into the public conversation is, by my thinking, a serious disservice.  I contacted a number of book review editors to inquire why this book has not been reviewed. None chose to respond. Go figure."

Here are some of Kunstler's musings revealed in the TMN interview:

JHK:  It’s about the global oil predicament.  And that predicament is that we are reaching the worldwide oil production peak, top, highest level of production ever and after that we are going to go down a slippery slope of remorseless—

RB:  A steep decline?

JHK:  We don’t know how steep it’s going to be. The estimate is about three to five percent a year. But it will be a remorseless slope of depletion. And that three to five percent will add up very quickly and we saw in the U.S. what happened [in the 1970s].

Yeah, and people generally misunderstand what the implications are. A lot of people think it’s about running out of oil. It isn’t particularly about running out of oil. It’s about living in an industrial society that can no longer expect to have more energy but only remorselessly less energy.

My point about that really came from this idea that anything that is operating at the gigantic scale now in our society, government, the large-scale farming model based on the Archer Daniels Midland Cheese Doodle and Pepsi Cola agricultural model, or the Wal-Mart model of commerce or the large centralized high school—any of these gigantic scale things are going to either wither away or fail or not work well under the conditions that we are moving into.  Our lives are going to be greatly downscaled and are going to be profoundly local and the larger things in our lives are going to fade away.  Including the federal government.  My friends back home are all wringing their hands over George Bush becoming the next Adolf Hitler—

People in Atlanta and in Silicon Valley will not be able to get to work.  People in Los Angeles will not be able to feed themselves.  People in Atlanta may not be able to feed themselves.

When I say the core I don’t necessarily mean the downtown business districts.  Those parts are going to be very, very problematical, and that’s another important point you have made.  The places that are overburdened with mega-structures, whether they are skyscrapers or even just large buildings, are going to be in real trouble.  These are experimental building types that have only been with us for 100 years.  I’m even talking about 10-story pre-war apartment buildings.  I don’t know if we can run them in the energy-scarce economy that we are going to have in the future.

And it raises one really interesting question like the question of—take this for example—modern plumbing as we know it, where every apartment has a bathroom, a toilet, etc., is totally dependent on central heating, good and dependable central heating.  You can’t be running space heaters in a 10-story Manhattan apartment building.  If one-third of the building or one-eighth of the building isn’t warm enough to keep the pipes from freezing, the whole building is going to lose its plumbing and then the building is going to become dysfunctional and we don’t know if this is going to happen or not.  And it could.  Because the natural gas situation in America—which is how we heat most of our buildings now—is arguably more ominous than the oil situation.

So we have a lot of problems.  It’s my belief that as we enter this period of disorder and travail and hardship and economic trouble, that among other things we will probably begin to ignore are a lot of the codes and regulations that we cooked up in the late 20th century because we won’t be able to afford to follow them.  People are really going to have to improvise their way through this including rebuilding America on something more than a single-story basis and something less than a ten-story basis.

My reference earlier was to politics.  We are liable to see more despotic politics on the local level because there is going to be a desperate need for authority and people may turn to not the nicest characters.  We will have to make certain expeditious decisions about things, like whether we prevent someone from building a three-story house without an elevator because can’t afford to do that anymore.  And yet our laws stipulate that we have to have elevators in virtually every building.  I am not against keeping handicapped people from getting around.  I am saying it has been a luxury of this tremendously affluent period of our history, that we have been able to mandate that.  Nothing lasts forever and that is one of the things—and that’s not the only issue in how we rebuild some kind of urban America.

And from TMN's Birnbaum's Jan 27 2009 interview:

JHK:  We need to understand that things like Wal-Mart and Target—they’re not going to function on the leaner energy diet, they’re not going to be able to run the warehouse on wheels.  The just-in-time delivery of products that are made 12,000 miles away, that’s over with.

Well, the agro-business model is very different from the local organic model, in many ways, but what we’re going to find is that it’s not going to be that different in Iowa than it is in the Northeast.  We’re going to have to grow food locally wherever we are in the United States, and the places that can’t do that, like Las Vegas and Tucson, you know, forget about it, they’re going to dry up and blow away.

Well let’s put it this way: This is not going to be imposed from above.  Human societies and economies are emergent and by definition are self-organizing. Circumstances present themselves and societies respond.  I mean, they can respond foolishly—they can elect Nazis, or do other things that societies do in desperation—and I hope that we don’t do anything like that here, although we may—

We’re going to have to inhabit the landscape differently because whether we like it or not, suburbia is going to fail.

The joker in the deck is that we don’t know how disorderly this process is going to be.  As I go around the country one of the things I find is that there’s an assumption—especially by a lot of policy people and environmental techno-wonks—there’s an assumption that we’re entitled to an orderly transition from where we’re at and where we’re going, and I of course don’t buy that at all.

 

Matt Simmons

March 29 2009 ~ It was bad enuf when on February 4 2008 he predicted to a Minnesota State Legislature Committee that All Liquids production would fall 7.2% per annum (to 60-mbd) by 2015.  But instead, a new record was set in 2008!

Then, on June 27 2008 he was quoted by the Aberdeen Journal:  "It is not beyond the pale of imagination to see oil at $300, $400, $500 or even $600 a barrel within a relatively short time, much less than 20 years."  But we know sustained pricing higher than $70/barrel induces Recessions among the G-20 nations.

Today, we award Matt Simmons the TripleCrown for his statement on the December 13 2008 Jim Puplava Financial Sense segment:  "We need to ... War on Rust.  It's sad but true that over 98% of our oil and gas infrastructure, from the well bores to drilling rigs to refineries to gathering systems to ... is all built out of steel and about 80% to 905 of it is beyond its original design life and it literally will rust away, so we have to rebuild it all in the next 5 to 7 years.   That's a $100 Trillion construction project."

$100 Trillion?  Geez, most experts put the tab at $3 Trillion.  If that wasn't enuf Simmons continued to tell co-guest Robert Hirsch the advice that he would give Barack Obama as the new President:  "The first thing I would do is basically in the first minute triple our oil, gas and electricity prices and put a floor under them ... and basically then take a day off and probably come back in a few months and triple the prices again and put a floor under it."

 

 

As a sampling, here's a gem posted by theOilDrum to YouTube on July 11 2008.  Matt Simmons says crude prices of $147 are a bargain.  "The price is going way higher and never coming down ... this is not a bubble."

 

Ken Deffeyes

March 28 2009 ~ On Feb 6 2008, geologist Ken Deffeyes wandered from his field of expertise to proclaim that the Second Great Depression had commenced in the USA.  For this ludicrous point of view, he has lots of company.  Economic McDoomers have awaited the collapse of the "American Empire" for a very long time.  He has since expanded his thesis to assert that the Recession commencing in Dec-2007 was caused by Peak Oil.  Deffeyes has the privilege of being a 2-star ambassador of the Lunatic Fringe ... both a McDoomer & a McPeakster

 

2009)

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