{"id":24477,"date":"2020-11-09T13:18:41","date_gmt":"2020-11-09T20:18:41","guid":{"rendered":"https:\/\/srsroccoreport.com\/?p=24477"},"modified":"2021-09-17T11:19:12","modified_gmt":"2021-09-17T21:19:12","slug":"the-mother-of-all-seneca-cliffs-and-virtually-no-one-is-prepared","status":"publish","type":"post","link":"https:\/\/srsroccoreport.com\/public\/the-mother-of-all-seneca-cliffs-and-virtually-no-one-is-prepared\/","title":{"rendered":"THE MOTHER OF ALL SENECA CLIFFS… And Virtually No One Is Prepared"},"content":{"rendered":"

The world is heading full steam ahead towards the ENERGY CLIFF, and virtually no one seems to be prepared.\u00a0 After watching the U.S. Presidential Election and the circus sideshow that followed on both Mainstream media outlets, I am quite surprised how much Americans have invested their time, energy, and emotion in either political party when the world is getting ready to enter a GLOBAL DEPRESSION the likes of which we never recover.<\/p>\n

Sure, I imagine I will upset a few people with that remark, but those are the FACTS.\u00a0 Of course, we can hem-&-haw about the ENERGY CLIFF’s exact timing, but in the end, it doesn’t really matter if we are off by a few years… DOES IT?\u00a0 Gosh, it has been 11 years since the 2008-2009 Global Financial Crisis.\u00a0 How fast did that go by??<\/p>\n

Well, I will tell you how fast it went by… the world enjoyed a net increase of 12 million barrels per day of OIL, NGLS, and CONDENSATE production from the U.S. Shale oil industry.<\/strong><\/span>\u00a0 We can thank the very unprofitable U.S. Shale Industry for basically propping up the entire global economy for the past decade.\u00a0 We must remember the simple fact; oil production growth allows GDP growth… PERIOD.<\/p>\n

While many shale investors were taken to the cleaners, they were sacrificed to the GREAT PONZI SCHEME GODS to allow business, as usual, to continue a bit longer.<\/strong><\/span>\u00a0 So, if you come across any investors with a sad face after investing in the Shale Biz, you should give them a big THUMBS UP as they allowed the U.S. Suburban Leech & Spend Economy to go on for another decade.<\/p>\n

All kidding aside, the U.S. and world face a very DARK REALITY, which few are prepared for.\u00a0 Unfortunately, when you turn on the TELLY, we don’t see any warning signs of the coming ENERGY CLIFF; rather, we see a lot of Americans yelling or screaming about a WIN or LOSE for their Presidential candidate.\u00a0 I can assure you that within the next 5-10 years, there won’t be much a President can do to prepare us for what’s coming.<\/strong><\/span><\/p>\n

Today, Gail Tverberg of OurFiniteWorld.com put out a new article and an EYE-OPENING chart, Energy Is the Economy; Shrinkage in Energy Supply Leads to Conflict<\/a>.<\/strong><\/em><\/p>\n

The shape of this curve is far different from the one most forecasters expect because they assume that prices will eventually rise high enough so all of the fossil fuels that can be technically extracted will, in fact, be extracted.<\/strong> I expect that oil and other fossil fuel prices will remain too low, for reasons I discuss in Section [4], below. In fact, I have written about this issue in a peer reviewed academic article, published in the journal Energy.<\/em><\/p>\n

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I have had a few email exchanges with Gail in the past.\u00a0 Some may have been in disagreement with Dr. Louis Arnoux and the Hills Group work on the Thermodynamics of Oil Depletion.\u00a0 However, if we compare Dr. Arnoux’s most recent chart, which I used as a title in our newest Youtube Video interview Thermodynamic Oil Collapse & Future<\/strong><\/em><\/a>, you will notice a very eerily similar resemblance.<\/p>\n