[lbo-talk] Peak Oil or Oil Bubble?

Miles Jackson cqmv at pdx.edu
Thu Apr 14 08:55:12 PDT 2005


On Thu, 14 Apr 2005, John Bizwas wrote:


> The debate about 'dear oil' vs. 'cheap oil' in US capital is like the
> 21st century equivalent of 'gold vs. silver' or 'high interest rates vs.
> low rates' or 'deficit spending vs. balanced budgets' or 'no inflation
> vs. some inflation'.

One significant difference: oil is a finite resource, and global industrialization encourages even more rapid rates of oil use. It'll be gone soon; that's not a capitalist myth, that's the brutal geological reality!

Miles



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