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Pointed out to me by .
I'm still digesting this. Thought-provoking stuff.
Debt seems the obvious drag, but energy costs? I'd like to see some data on this.
more Malthusian bullshit. "Enthusiastic claims about the latest hot new oil prospect are hardly new" for a reason. I'll take my cue for panic from the historical record, leave others to sweat the dreams of the druids. This is what cartel looks like, not peak oil. Personally I think that peak oil will be a great thing for our species, we will finally be forced to find new energy sources that aren't as carbon intensive, but in the meantime OPEC will set prices not production capability.
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It does seem to be out of left-field. The rise in demand has slowed as far as I know.
I also don't understand the part about a lack of bankable projects. It's a big claim, but I don't know that there's much reason to believe it. If you just look at infrastructure, there are so many ways that we can spend money on manufacture. I mean, that is part of the argument about alternate energy modalities. You get new efficiencies, and you get the demand for the new infrastructure, which spurs growth.