Thread: Preparing for the coming Economic Tsunami

Economic Prosperity and Fossil Fuels, Conclusion; US Debt, Energy, Preparing for crisis

Preparing for the coming Economic Tsunami

By Bob Shoup
Monday, July 20, 2009

As discussed in parts 1 though 3of this series, the global demand for energy, and fossil fuels are expected to increase. At the same time, the supplies to meet that demand are declining. We examined how the gap between supply and demand is at risk of becoming too large and making the current economic crisis far worse. Finally we examined how a comprehensive policy that includes increasing U.S. supply and decreasing U.S. demand for fossil fuels can help ensure that we have access to a cost-effective and reliable source of energy for the foreseeable future.

The unfortunate fact is that the U.S. government seems unwilling, or unable to develop a comprehensive Energy Policy that could help prevent this economic collapse. Indeed, many members of the Senate and Congress, as well as the Obama Administration, seem bound and determined to attack our industry and make it all the more likely to create a significant gap between supply and demand.

If they are successful, the increased price of energy, coupled with an economy already at risk of collapsing, and the U.S. could see a major economic crisis that includes double digit unemployment, double digit inflation, a collapse of the stock market, and a significant devaluation of the dollar, so much so, that it may no longer be the global currency. What follows is a brief summary of the many conditions that are coming together in such a way as to potentially create an economic tsunami.
The U.S. Debt

Following many years of deficit spending and massive social entitlement programs, the U.S. is now saddled with a tremendous debt. Like a family addicted to credit cards, we, as a country, continue to live above our means. According to the debt clock the current U.S. National Debt is $11.5 Trillion dollars and increasing at a rate of $3.9 Billion A DAY. To give you a feel for the size of that number, there are just over 3 Billion seconds in 100 years. It takes 45,000 years to have a Trillion seconds.

The simple fact is that we, as a Nation, can not sustain this rate of debt increase. To pay the current debt off, every man, woman, and child in the U.S. will need to contribute, by way of taxes, just under $40,000. Unfortunately, most Americans could not “contributeâ€

Economic Prosperity and Fossil Fuels, Conclusion; US Debt, Energy, Preparing for crisis

Preparing for the coming Economic Tsunami

By Bob Shoup
Monday, July 20, 2009

As discussed in parts 1 though 3of this series, the global demand for energy, and fossil fuels are expected to increase. At the same time, the supplies to meet that demand are declining. We examined how the gap between supply and demand is at risk of becoming too large and making the current economic crisis far worse. Finally we examined how a comprehensive policy that includes increasing U.S. supply and decreasing U.S. demand for fossil fuels can help ensure that we have access to a cost-effective and reliable source of energy for the foreseeable future.

The unfortunate fact is that the U.S. government seems unwilling, or unable to develop a comprehensive Energy Policy that could help prevent this economic collapse. Indeed, many members of the Senate and Congress, as well as the Obama Administration, seem bound and determined to attack our industry and make it all the more likely to create a significant gap between supply and demand.

If they are successful, the increased price of energy, coupled with an economy already at risk of collapsing, and the U.S. could see a major economic crisis that includes double digit unemployment, double digit inflation, a collapse of the stock market, and a significant devaluation of the dollar, so much so, that it may no longer be the global currency. What follows is a brief summary of the many conditions that are coming together in such a way as to potentially create an economic tsunami.
The U.S. Debt

Following many years of deficit spending and massive social entitlement programs, the U.S. is now saddled with a tremendous debt. Like a family addicted to credit cards, we, as a country, continue to live above our means. According to the debt clock the current U.S. National Debt is $11.5 Trillion dollars and increasing at a rate of $3.9 Billion A DAY. To give you a feel for the size of that number, there are just over 3 Billion seconds in 100 years. It takes 45,000 years to have a Trillion seconds.

The simple fact is that we, as a Nation, can not sustain this rate of debt increase. To pay the current debt off, every man, woman, and child in the U.S. will need to contribute, by way of taxes, just under $40,000. Unfortunately, most Americans could not “contributeâ€