[Peakoil] Jim Kunstler this week on the energy predicament in the USA

[Antony Barry]

On 11/09/2013, at 4:36 AM, Keith <myrmecia at gmail.com> wrote:

> If these conditions were to crash the global economy and the price of everything fell in a deflationary depression, with oil back under $60 a barrel  — then it would not pay enough to frack the shale rock, or drill miles under the ocean, or do any of the very expensive operations of what’s called unconventional oil recovery.

If the price of oil goes down the oil supply collapses and so does the economy. If it goes up we have oil but the economy still collapses as too many resources are diverted to providing energy.

Tony