Article by Howard Kunstler.
American oil production may be at an all-time peak now at about 13-million barrels-a-day, but most of that — about 8-million — is shale oil, which is a manifestation of our tremendous debt roll-up since 2009. Now that we’re at the absolute limits of debt, we’re also at the limits of shale oil. The production of shale oil paralleled the accumulation of all that debt both in size and rate of increase, and as the debt goes bad — meaning, unpayable — the organized capital sector will blow and shale oil production will fall as sharply as it rose. It is also a fact that shale oil is subject to natural limits — we’re out of “sweet spots” to drill.
That’s America. Europe is way worse because aside from whatever oil is left in the North Sea (not much), Europe has no oil. Europe’s largest gas field — Groningen in the Netherlands — is scheduled to cease operations in October of this year. You all know what happened to the Nord Stream pipelines. And then Germany, in some psychotic fugue state, shut down its entire nuclear power industry, while France is just not replacing its nuke plants as they age-out. Europe is completely screwed. They won’t have anything we might call modern industry. In the meantime, the WEF is playing them like a flugelhorn, keeping them distracted with “green” politics, an unchecked immigrant invasion, and sexual confusion.
So, the period of disorderly transition we’re in is not moving toward greater dominance by giants, but to the survival of the small and nimble. We will not see capital formation like the orgy of recent times; rather the vanishing of things falsely presumed to be capital, contraction not expansion. You’ll be struggling to identify and preserve real wealth, which you’ll find in unexpected places, like the friends you can count on, your reputation for honesty, your dependability, acquired skills, and your health, physical and psychological.
The WEF won’t be able to impose its Globalist nightmare of elite transhumanism and surveilled bug-eating serfs, and they know it now. They’re running scared. The vile Yuval Noah Harari has even said so publicly. The political figures and agents serving that cabal will be lucky if they are not hanged in the public squares. The political criminals here in America, the hoaxsters, the grifters, the seditionists, the Lawfare agents, the election fraudsters, know very well the danger of their looming prosecutions, and that’s exactly why the Democratic Party and its blob henchmen and flunkies are acting like desperate lunatics.
Expect: failed national governments, maybe even state governments; failed supply lines; failed electric supply, failed trucking, failed big box stores, failed supermarkets, failed giant companies; failed banks, failed investments, failed money, failed news orgs, failed airlines, failed car dealers, failed hospitals, failed colleges, and much more. But don’t discount human ingenuity and resourcefulness, our ability to work-around and reinvent systems for daily life, even if it’s on a downscaled and more modest level.
Expect rebuilt local economies from production to wholesale to retail. Expect smaller stores, fewer things to buy but much of it better quality. Expect a lot less long-distance travel but a lot more happening in your locality. Expect the rebirth of local culture — theaters, live music, news-sheets, dances — to replace all the canned entertainments we’re used to. Expect small private academies to rise to replace the shuttered central schools. Expect small, local clinics to appear from the ashes of the medical conglomerates. Expect Americans to return to churches as an organizing mechanism for community relations. Expect more formality and less slobbery in public. Expect all of us to feel a renewed sense of gratitude for being here instead of rage, resentment, and grievance, because it’s likely there will be far fewer of us around.