Re: Re: RE: Re: Yet another take on Hubbert's peak

[Doug Henwood <dhenwood@xxxxxxxxx>]

Ken Hanly wrote:

> I think most people agree with you to the following: 1)there is an impending
> global energy shortage that will cause a crisis within capitalism 2) the New
> Economy doesn't alter the fact that capitalism  is dependent upon
> traditional energy sources

I'm not sure I agree with 1); it's been wrongly asserted so many
times in the past - staring over 100 years ago - that one should be
pretty careful about predicting it again.

I notice that Mark forwarded an item from the FT about a dry hole in
Azerbaijan. There was a story next to that in the print edition of
the paper on Japanese investment in Iran which will develop that
country's reserves and production capacity. But I guess a glass at
50% capacity is always half empty.

Doug