World will face oil crunch ‘in five years’

from the Financial Times an article by Javier Blas, Commodities Correspondent

Does not look like there is any free lunch.

Truly frightening!

The most amazing thing is the sense of denial by right and left.

The right believes that their Deity, Mamon, will use his invisible hand to save us all by creating more oil or repealing the laws of thermodynamics.

The left thinks we can live pretty much as we have been except that by being a bit more efficient we can avoid the conflict between poverty and consumption. I am not sure who the Deity is for the left but it maybe the Corn God or Prius. In Aztec mythology, maize was brought to this world by Quetzalcoatl. (Image is Aztec Corn God, CENTEOTL), The trouble is Quetzalcoatl was a benefactor god, considered a leader among the deities, that would come back after his departure to take back the empire. One legend is that Cortez fooled the Aztecs into thinking he was the returned deity.

Where is Ricardo*when we need him?


*Jewish economist, successor to Malthus, advocated informed capitalism as the best way to delay the Malthusian crisis. In many ways Marx and the capitalists were like the left-aztecs above, believing that Malthis could be avoided by the free market or socialist sharing.