The house of cards known as the western economy is teetering precariously. The gusts are coming from all directions against an edifice built on speculation, greed, hype and corruption. There will be winners and losers. But the “warmists” will likely get the blame.
The fracking boom is in big trouble. Increasing resistance to production and delivery is the least of the industry’s worries (and I’m not saying that resistance should let up one bit!)
Fields are failing, production volumes struggle to stay up. The industry is over-hyped, over-sold and over-valued. And the price ofÂ competing energy sources has dropped to rock bottom (no accident. Poor Russia. We wish we could help, but hey…) So I’d venture that our pipeline threat is reduced, especially for three of them throughÂ Virginia to reach construction.
But don’t get too giddy just yet. As the fracking investment bubble pops, so do the too-big-to-fail banks bursting with carbon-monies that have access to your nestegg, and have a way to get it, to prevent their own implosion. We surely wouldn’t want any of them to suffer the consequences of their folly, now would we?
Of course nobody can predict with 100% certainty how or when markets will rise or fall. But I’d bet my money (buried in a sock under the hen house) that we are soon to see a market “correction” that responds to the recent convulsions of a dying Big Bank / fossil fuel post-peak all-systems failure.
And then there’s the blame game after the storm. You know who is guarding the hen house next year. The next crash will be blamed on those damned tree-hugging anti-fracking pinko nature freaks in Floyd that kept crying that the sky was falling. Be sure Senator Inhofe will be wagging his righteous finger in your face through your six-o’clock television along about June of next year.Â You should feel so ashamed!
If the last paragraph of “Russia Blamed, US Taxpayers on the Hook, as Fracking Boom Collapses” quoted below holds any interest for you, go back and read the rest.
[su_quote]The pundits on Fox will likely play on the patriotism of the right and use their Big Lie ploy (say something enough times, it becomes the truth) to the hilt. Six months from now, while studiously avoiding mention of our “allies,” the Saudis, or the Wall Street banks, they will likely be vociferously defending those poor “beleaguered US oilmen” who could have made our country strong and independent again in energy, but were broken by the Democrats and those “commie environmentalists” working for Putin. The market crash will be blamed on the “climate hoax.” [/su_quote]
AndÂ as a paradoxical footnote,Â the winner (if money can buy a win–not there has been any evidence of such a thing) may be the OIL INDUSTRY.