On the Edge with Max Keiser – World Oil Production

Interview with Gregor Macdonald.

65 comments on “On the Edge with Max Keiser – World Oil Production
  1. snoop diddy says:

    interesting show, interesting to hear Mr MacDonald say oil companies are becoming gas companies. Definitely the case in Australia, big rush for coal seam gas and new ways to extract gas. I don’t think we have fracking in Australia… yet.

  2. Mother Earth says:


    You just have to take the final step and admit that debt was never real debt, only a pretext to get oil in an environment where some people where still doing real work. Just to quell their envy and to give bankers a stick to beat the common man is there the myth of debt. You assume money is primary in the system, it is not, it is oil and defence. Money is only the means of distribution. Credit has a use in putting a break on that, but it is entirly virtual.

  3. Mother Earth says:

    Gregor Macdonald is in denial why the US went off the gold standard.

  4. SkullSlitter says:


    This show has the most cheerful intro music I ever heard 😀 It’s like a Price Is Right intro 😀

  5. flicks says:


    Nuclear power will grow silver is used in the control rods.

  6. flicks says:

    BTW the price is still not right for silver or gold

  7. flicks says:

    I can envisage small steam engine powered electric generators burning wood and coal in everyone’s back yard . Back to the 19th Century.

  8. snoop diddy says:

    there’s electric motorbikes around at the moment as good as any other motorbike.
    4 hours to charge – a few 100kms range.
    Zero motorcycles is one
    Zero Motorcycles Mean Grean Machines Part 1

  9. japan power says:

    here’s an idea, say everyone in the world grows a few organic crops that can be converted into oil like hemp, corn, shit all you need is nitrates, potassium, and phosphate idk any way and then have them take that to their local refinery for processing into oil. I like the idea because one it “could” be pro-creative, 2nd it would produce more oxygen and cool the earth (if CO2 seems to be the problem, not just a source for more paper money, who knows), 3rd people would have more food to nourish their mind to develop new innovations to actually help sustain and increase the energy usage(isn’t that what cuba did?); if that is not something for some politician to stand by, then yes, our system is a bit fascist, so buy silver as an investment, gain money and CRASH JP MORGAN!

  10. japan power says:

    btw thanks to all who woke us all up! applause!!

  11. japan power says:

    bush, summers, obama, bernenke, geithner that was the wake up call i needed

  12. stockholmer says:

    Mcdonald is an abiotic oil denier. If it is crackpot, why has Russia pumpd it out of the ground for decades now? http://seekingalpha.com/instablog/400230-vinod-dar/47079-abiotic-oil-and-gas-a-theory-that-refuses-to-vanish


    Also, the BP oil spill in the Gulf ws caused when they tapped into abiotic super-pressurized oil deposit, with wellhead pressures up to 70,000 PSI. (normal wellhead pressure is around 1500 PSI)

  13. Bill says:

    @SkullSlitter Only it’s the (Ag) Price is WRONG

  14. Pauly says:

    Yeh, very interesting episode and quality guest. Watched a program on Swedish TV the other day about peak oil and peak phosphorus (used in food production). Interesting/scary how the whole “system” is peaking. Will try and find a link to the program. The voice over is in Swedish, but most of the guests are english speaking.

  15. Bill says:

    We have been running out of oil since the early 70’s

  16. Karsten Hansen says:

    Peak oil,if this realy is the case!
    Then stop using what is not necessary,stop driving the car to the bakery,walk,you got legs?
    Crash BP,Shell,stop using oil,and get a better health and cleaner air,use a clothbag,and reject plasticbags,stop buying Chinese,Mærsk is polluting more than any other at this planet,by his fleet of Containerships,commodity transport for the Peopl????Consumers,i just almost forgot,we have been downgrated,from Humans to Things=Commodity junkies!

  17. microhousehold says:


    Any links for the program you’ve watched?

  18. microhousehold says:

    ‘new idea that could massively bring down energy consumption is that gravity and the weight of the descending container could be used to generate energy that could be used to spin an electric generator or recharge batteries or even re-energize the grid’


    Which other waste heat and or waste gravitational power can be used to
    generate power?

    Lifts in buildings is an easy one.

    Rest heat in computers another one.

    A Sound Way To Turn Heat Into Electricity


  19. microhousehold says:

    Shock absorbers:

    More power from bumps in the road


  20. Roger says:

    Peak oil is a fact proven over time. Man made global warming is a fantasy put forth by junk science. It was someone in the oil industry (hubbard) who put the peak oil theory forward and was proven correct. Anthropogenic global warming is total nonsense and I am not sure why Max pushes it. Even Max admits that carbon trading is a Ponzi scheme and that depends on the global warming theory. The relationship between credit and oil production is far more important and without cheap energy peak credit has been reached. All my friends know that peak oil is real but none believe the global warming hype.

  21. japan power says:

    @ pauly LOL OMG that’s fuckin CRAZY i didn’t know that…
    i do know that phosphorus comes from ash, and human urine so that is a precious resource… OMG (i wanna take a golden shower in tokyo) nitrates come from animal feces, sea weed, coffee grains, and decaying plants. potassium from fruit peels, coffee grains, and ash
    awesome comment… here’s a link to what she’s referring tohttp://vimeo.com/13365354

  22. microhousehold says:

    Let’s be clear that non of these technologies work with a petrol engine.

    What we need is a good form of energy storage:

    Batteries and flying wheels have their limitations.

    Hydrogen energy storage has its problems.

    Energy density is an important issue:


  23. japan power says:

    I almost wanna start a new website with these collaboration of ideas

  24. Zoltoid says:

    some scientists do believe in climate change just not anthropogenic climate change. They think the climate is driven by the sun not by greenhouse gases.
    I think you’re making a mistake by coupling together climate change deniers and those who don’t think that capping greenhouse gases can make any difference.
    In that regard I think your, otherwise flawless, paradigm is wrong. The sun burns through 600 million tons of hydrogen per seconds, even a little bit of fluctuation is making a huge difference in the atmosphere of the Earth. Please consider this fact.

  25. microhousehold says:

    @japan power

    Cheers for the link about phosphorus.


  26. Zoltoid says:

    Let’s use the waste heat of generators to heat houses, and pump the generated electricity into the grid regardless. In other words the primary task of generators should be heat (they are pretty good at that) and electricity is a perk in such configuration. The way they work now is the other way around, and we have to come up with solutions to dissipate the “waste” heat. This way the process over all would become twice or maybe 3 times as efficient.

  27. Geek Boy says:

    I saw the IEA report during the week and was hoping y’all would do a show on it.
    For me, this was one of your top three shows, along with Mike Ruppert and Nicole Foss, because these guests take a holistic approach, as do Max & Stacy, in understanding the two siamese twins of energy and money.

    In an infinite economic growth paradigm, energy (more like cheap energy) is the driver. As we live on a planet of finite resources (peak oil) we’re understanding slowly that a sudden and massive change is coming.

    Good work this week y’all

  28. Mother Earth says:


    You have a lot to learn..

  29. Mother Earth says:


    Abiotic oil does exist, apperently hydrocarbonic compounds get created in the crust, they recently even found oil eating bacteria mixed with it. but I never seen an abiotic oil well.


    Effective technologies are blocked or fumbled on purpose..

    – CEAS has drawbacks because they don’t want to store the heat with it.
    – High tempereature heat storage is ignored, although cheap and effective.
    – NH3 dissociation is a tried heat storage method, invented in Australia and vanished without a trace.
    – Flow batteries are wildly overpriced.
    – Underground heat stroage is kept cost-ineffective

    Surrendering to market foces should be interpreted as surrendering to rigged market forces.

  30. Marc Authier says:

    Peak oil is THE PROBLEM. If can help reduce pollution. Amen. But for that, we must get rid of the automobile industry. 49% of the oil is simply burnt ! It’s the real scandal. Eating fruits that was made 4000 miles away is not intelligent. And this crap is MAINLY the CFR and Bilderburg fascistis fault.

    Globalism and multinationals are the main enemy of humanity when it comes to oil depletion. The future. A much slower world where people will have to learn to enjoy walking, bicycle, taking the boat, the train, and buying LOCAL products instead of buying Wal Mart crap MADE IN CHINA.

  31. microhousehold says:

    @Mother Earth

    @Marc Authier

    Completely agree!

  32. Larry says:

    Hope all you guys/gals out there in Keiser-fan land picked up on this in the interview:

    The use of the term “climate change deniers” without distinction of those that acknowledge the reality of climate change but dispute the AGW (Climategate) explanations This is disingenuous at best and a blatant lie at worst. It is definitely shoddy journalism – just the kind of thing we, collectively, are trying to disengage from.

    Burying this in a discussion of “peak oil” is even more disingenuous and points to Agenda and policy.

    There are very few that would not trade coal/oil for any viable clean alternatives. These alternatives may break free of suppression as peak oil results in higher prices, if indeed, peak oil is a reality.


  33. Marc Authier says:

    10 years left of conventionnal oil in Alberta. Says it all. The rest is tar sands but for extacting it you have to burn the equivalent of two barrels of oil in natural gas and 8 barrels of clean water ! Says it all. The best technology I know of is mass transit and your feet. 🙂 Short GM by the way.

  34. flicks says:

    Mother Earth – when push come to basic necessity shove people will be chopping down trees in the local park burning them after they have knocked a hole in their wall where they once had a fire place pre 1970’s. Its already happening where I live people are knocking out their walls putting back a fire place and burning wood during the winter. Last week one Asian bloke came round asking if I had any spare wood for his fire.

    And then this; a big one of these in the garden shed :-


  35. Larry says:

    AGW is an issue for good science – not the pseudo version offered up by the likes of Phil Jones of Climategate fame where raw data is routinely changed and manipulated to support policy decisions. That is not science!

  36. Marc Authier says:

    Hey Max. I think the ‘Peak oil denyers’ are much more dangerous than the ‘Climate change denyiers’. I just don’t agree with having Al Gore and Obama and Goldman Sachs deirvatives in my ass making money with credit carbon derivatives. Government by the people and for the people does intervene strongly in Europe and it works. There are less cars, the cars are smaller and you can live quite comfortably in France without never driving a car. And the mass transit is great.

    Where is Obama’s TGV train ?

    USA IS THE PROBLEM. Globalism was based on ultra cheap oil. It ain’t what it should have been because USA is controlled by the Koch Brothers and Goldman Sachs. These people couldn’t care less if 3 billion people die off.

  37. Youri Carma says:

    So funny to see how people who believe in this bogus climate change made up by the Rockefellows and the Club of Rome believe in peak oil. Research shows they’re payed of by oil companies to push this bogus climate change so they can make extra money on storing CO2 in old mines.

  38. Marc Authier says:

    In sum the sin is the ‘American Dream’. USA is a cancer. And no. Nothing has changed.

  39. chris says:

    Max, please give this issue legitimate consideration when talking about the “chewy nugget center” theory which is used to hold in derision the claim that oil can seep up from deeper under the earth’s crust…

    How is it possible that BP (Bringing Oil to American Shores) and Russia are drilling at 7 to 14 miles deep for immense reserves? I had no idea there were such vast dinosaur deposits at those depths and with such concentrations and quality… That must have been an extremely homogeneous heard or oil / fat rich lizards that god himself collected like Noah 2 billion by 2 billion animals all stacked in one place to bury for his later Wall Street faithful (who do his work) can monetize, derive, and aggregate over to isolate profits for the prophets.

    There is a mechanism that caused oil to be at that depth. Let’s contemplate more about what that is and see if there is any more potential to predict where more of these deep reserves are located. Also perhaps we should look for a relation between deep reserves and easily accessed oil fields in production today and the past 100 years… That would be real science in my opinion.

    Thanks for hearing me out on this.

  40. Marc Authier says:

    And don’t count on China and India, to lead and understand. Last year GM sold more Cadillacs in China than in USA.

    The American model of world development will lead to a third world war and yes this time it will be thermo-nuclear. Everywhere we have the same type of facist extreme right wing USA fascist scum in power.

    Not one country, apart some exceptions in Europe with mass transit, today really deserves respect. India obsessed with cars. Russia obsessed with cars. China obsessed with cars. USA salvaging an industry that must die. Europe doing the same.

    I know of no country without the almost Nazi obsession with the car. Adolf Hitler was obessed with the autobahn and building highways. The Soviets were obsessed by the machine and imitating Ford motors assembly lines. We have people still living in the 19th and early 20th century. USA nazi apes obsessed with heavy industry and industrialization with no energy saving priority.

  41. Mep says:

    @ snoop – A link for ya: Big Oil Moves Towards Natural Gas.

    Also, there’s this: Big Oil Explores Riskier, More Dangerous Options To Meet Growing Energy Demand .

    Anyone out there also think that the IEA report was also rather rosy on the future production of natural gas and unconventional oil?

  42. Mep says:

    Came across this article the other day:


    Another good critique of the IEA report.

  43. Marc Authier says:


    Even if abiotic oil existed, the cost to extract it, and the physical problems, would render the effort crazy. Besides that at these depths the temperatures and the pressures melt the equipment ! The abiotic oil theory is for assholes. It’s not because it exist that’s it’s feasible. You know what the real problem is ? Technology has replaced God. In the old days, when you were screwed and in deep shit, you would pray and ask the help of God. Today technology will solve like by magic and religious way, any problem. NO IT WON’T !
    People will have to change their way of living on Earth. And yes it implies getting rid of Koch Industries and Goldman Sachs and JP Motgan Chase and the anlgo-american imperialist pigs and their ‘American Dream’.

    The solution is firs a CULTURAL one. The American culture is THE CANCER. It is.

  44. Marc Authier says:

    Gas reserves are much more abundant. Russia has the biggest reserves in the world. The second country or third is Iran. Well well well. It’s logical to concentrate on gaz. You can buy natural gas reserves for about a tenth oil costs.

  45. jimmy chen says:

    oh my god I was so bored and learned no ting

  46. Marc Authier says:

    Change the culture and education system and get rid of the nefarious influence of American culture. Unfortunately it’s exactly the opposite that is happening.

    Went to Russia in 1979. I was dazzled by one thing at the time. Fantastic mass transit and cheap chea cheap cheap cheap. No cars in Saint-Petersburg and Moscow. You could almost walk in the middle of the streets. Moscow and Saint-Petersburg in 2010 ? Terrible. Just terrible. Proves that Russian like all these foreign assholes, hypnotized by the US model of destruction, are adopting the same Los Angeles demonic model of urbanism.

  47. Larry says:

    @ Marc Authier – Agreed but don’t throw the baby out with the bath water. Good science applied with integrity does play a role. A little research shows that much good stuff has been suppressed since the early days of Tesla. This may rise to play a significant energy role – but I agree, without a cultural change in the direction of individual responsibility, new energy technology by itself is not likely to cut it.

    Chris is correct to point out that good science should be used to shed light on the “abiotic” origins of oil – not necessarily to go after it, but to help identify the liars and their motives. That’s part of the cultural change you mention.


  48. Mep says:

    @ Roger – Anthropogenic global warming is total nonsense and I am not sure why Max pushes it. Even Max admits that carbon trading is a Ponzi scheme and that depends on the global warming theory.

    So if some Peak Oil profiteers banded together to figure out a way to create a market in which they could personally benefit, would you then deny Peak Oil, too? Your problem is that you use the desire of a handful of greedy people who want to enrich themselves via carbon trading as “proof” that AGW is itself bunk. I don’t want to be mean, but it’s just intellectually lazy to believe that AGW is a farce because people exist who want to benefit financially from it.

    You seem to be implying in your comments that Big Oil are really the good guys here–first, by saying that Hubbert was an oil guy, himself, and that he was right in his theory (you seemingly extend credibility to all oil guys based on Hubbert’s prediction and theory), and second by acting as if the oil men and energy companies denying AGW are really on the right side of the issue.

    Isn’t it a bit naive to fall prey to such intense propaganda by the oil/energy industry? Will you also take their side when the fight against hydrofracking intensifies and they continue to deny the extent to which they are polluting and ruining people’s water supplies and deny the damage they are causing to human health?

  49. Marc Authier says:


    I am not anti science. Au contraire ! I am anti religion.

    Science is not a religion. It does not solve everything. Technology is not a religion. It does not solve everything.I believe in culture and education. We will need a real cultural revolution and liquidate Goldman Sachs, JP Morgan Chase and all the sick people that pretend to take care of us. We will need to slaw the sacred cow called ‘American Dream’.

  50. Marc Authier says:

    We have in power now very very very very sick mass murdering criminals against humanity. The Nazis at Nuremberg were effectively executed. I can’t count the millions or hundred of millions of people, JP Morgan Chase killed. Thes banksters are really in the business of genocides and holocausts. Never forget it ! The FED financed Hitler.
    Wall Street and Waarburg financed communism. Communism financed by Wall Street scum killed it is estimated 150 million Russians. 70 years of communism destroyed maybe directly 40 to 50 million Russians and another 100 million unborn. It killed another 100 million in China.

  51. Mep says:

    @ Karsten Hansen – We do our bit here, but when it comes to conservation and smart consumption, there’s always room for improvement. Even little things like using cloth napkins instead of buying paper towels and napkins helps.

    Re: “commodity junkies,” here’s a documentary you might enjoy: How The Kids Took Over. It needs to be fast forwarded about 2 minutes in . . . looks like a Chinese show aired the program; they introduce it in Chinese and then discuss it once the documentary is over. I don’t really know how bad the problem of hyper-consumption is in other developed countries, but seems that one of the biggest things we need to do here in the US is to put a stop to aggressive marketing to babies, toddlers, and kids and actually become parents again.

  52. Marc Authier says:

    USA by the way didn’t hesitate to exterminate 10% of Irak to put it filthy hands on oil. I have absolutely nothing to add that this was a crime as horrible as Adolf Hitler. Anyways you just have to go in South America and Central Americe to learn in reality what the ‘American Dream’ is all about.It’s about Nazi right wing para military death squads and cocaine CFR drugs smugglers and whore house operators.

    The Spanish Empire was not a good thing. The Monroe policy neither. USA is just a vulgar murderous empire like the USSR, like Nazi Germany. The New World Order a la Bush and à la Obama is about a world Monroe policy. People are waking up. USA is not different than Nazi Germany and Adolf Hitler’s ambition of a New World Order.

  53. Marc Authier says:

    And USA wouldn’t hesitate to exterminate another 10% of Iranians (only 8 million souls) to put it filthy murderous hands on Iran’s natural gas. Iran has 100 years of natural gas.
    Yeah In G.O.D. we trust. Guns Oil and Drugs. Hope these stupid Chinese wake up.

  54. Marc Authier says:

    1 United States: 8.35 TOE per person
    # 2 Canada: 8.16 TOE per person
    # 3 Finland: 6.4 TOE per person
    # 4 Belgium: 5.78 TOE per person
    # 5 Australia: 5.71 TOE per person
    = 6 Sweden: 5.7 TOE per person
    = 6 Norway: 5.7 TOE per person
    # 8 New Zealand: 4.86 TOE per person
    # 9 Netherlands: 4.76 TOE per person
    # 10 France: 4.25 TOE per person
    = 11 Japan: 4.13 TOE per person
    = 11 Germany: 4.13 TOE per person
    # 13 United Kingdom: 3.89 TOE per person
    # 14 Ireland: 3.86 TOE per person
    # 15 Switzerland: 3.7 TOE per person
    # 16 Denmark: 3.64 TOE per person
    # 17 Austria: 3.52 TOE per per

    How come Europe and Japan manage to have about the same GDP per person as USA ? The ‘American Dream’ in numbers. Who’s is to blame ? Guess ?

  55. erich kartmann says:

    Good Lord,

    Max is on Speed. Firing like a gatling gun with silver bullets on JP Morgan. Keep it up!
    During the French Revolution they sang Ca ira. Now we’ll play this:


    Or this:


    The german text at the beginning is Nicolas Cages synchro from 8mm: If you are dealing with the devil (Goldman, JP Morgan) the devil won’t change. You will change.

    After the revolution we’ll hear:


    If i had but one wish in my life it’d be Max and Stacy dancing to Disco Pogo.

    Gruesse aus Köln,

    Greetings from Cologne,

    Erich Kartmann

  56. bob says:

    I’ve heard this argument before and my only beef with it is that they never discuss ‘factoring out of oil’. For example we can build a electric car with 200 mile range and get the electricity to run it from advanced coastal wind farms, nuclear energy, advanced solar energy stations. This is available and we are capable of doing this now but just can’t seem to get our heads around it. We would still need oil but by implementing at least electric cars we can start factoring out of it and in 10-15 yrs oil wouldn’t be an issue. It would also help the economy as a new industry would be developed that we could ride for the next 10-15 yrs. The only group that doesn’t want this and will do everything to prevent this is the petro-dollar cartel. Being dependent on oil is just a mindset and all you have to do is think outside the box and the solution will come. So a high mile range electric car is the key and is totally feasible with today’s technology and can be mass produced for everyone.

  57. julian nawrath says:

    Worst interview…..ever!

  58. Dancing Lemur says:

    Hello MAx, good proramme. excellent point about the linkage between peak oil and peak credit! YOu might look at Costanza et al in Ambio 2007 for the big picture includingb human history. We are economists archaeologists and global chnage modelers working together in IHOPE (Integrated History and dfuture of People on Earth)looking at the issues you raise. Keep up the good work.

  59. Greg says:

    What I find ironic here – and have for a long time – is that one of the main individuals who believe Peak Oil is not real is…Alex Jones! He’s completely derisive of the argument, as he is with climate change. It’s all the globalist agenda!!

    So I don’t know – I guess Max and Alex must just agree to disagree on that one. All the more reason why Max > Alex by a country mile!

  60. WeAreAllShoes says:

    Climate Change (aka AGW and now Global Climate Disruption) is a religious belief.This view is clearly justified by it’s proponents (or believers in it’s ever changing dogma, dictated fron high by it’s own priest caste,) complete unwillingness to have a look into the ClimateGate emails, or even correctly identify the concerns of ‘climate heretics’.

    Our concerns, or reasons for disbelieving the ever changing assertions, are perfectly reasonable and could be summarised in part thus:

    1. The ClimateGate emails clearly reveal, through the admissions of Hadley CRU/NOAA/NASA/Met Office scientists – many of the lead authors of the IPCC reports – and discoverys made by other researchers (evidenced clearly by photographs) that the Global Surface Temperature dataset has been cooked, both at point of measurement and in post processing. The divergence from the satelite dataset further demonstrates this.

    2. That the computer models, upon which predictions are made, are completely useless, and have been proven so again and again; junk in, junk out. This has been pointed out, and explained, by some very emminent scientists, such as Freeman Dyson and Richard Lindzen, but I suppose they’re either cranks or in the pay of big oil (or ‘of satan’).

    3. The level of censorship employed against people who dare post links to either the satelite dataset for heat radiated from the earth, or satalite imagery of arctic/antarctic sea ice expansion/contraction over the last >30 years, on comments pages of pro-AGW publications, ie. The Guardian, in tandem with the refusal to debate by the proponents, withdrawal from arranged venues, and, in several instances demanding that broadcast media cancel appearances of prominent ‘deniers’ (such as Lord Monckton’s on the BBC).

    4. The crimes against science, such as the destruction of experiments, as the one in the Maldives by Freinds of the earth, and the peversion peer review process, which has been pointed out again and again by both deniers and neutrals; and is admitted too in the ClimateGate emails , directly.

    As to this absurd misrepresentation of the views of AGW’s critics, that there is a monumental conspiracy involving hundreds of thousands of scientists (your words Max, or was that Stacy, I forget); it required approximately 24 scientists to corrupt the Global Surface Temperature record, which many proper scientists dispute the significance of anyway, thereby ‘poisoning the well’, from which other scientists’ work is derived. Furthermore it is questionable wheather any scientist is qualified to make credible long term projections on global climate, an inordinately complex system, let alone “hundreds of thousands” of them; if there is anyone so qualified, my money is on their being a physicist

    It frankly sickens me, that people claim to be looking at this from a balanced perspective, yet only choose to examine the criticisms of AGW once they have been sterilised by partisan elements of the MSM, such as George Monbiot.

    ClimateGate is to AGW what fossils are to creationists! Or am I to believe that the devil hacked Hadley CRU to trick us?

    P.S. If you moderate this, you’ll merely be proving my point.

  61. Daniel S says:

    Wow! Great guest! He has a very clear way of thinking and speaking. I hope to see him on again.

  62. Schralper says:

    So oil & $ are linked.
    & $ supply is controlled & manipulated by TPTB.
    So what’s to make me think oil supply isn’t manipulated by the same peeps?
    Me thinks they are joined @ the hip.
    1 World gov’t control of energy & $, CHECKMATE you are now a slave!

    Adiabatic oil MIGHT not be crackpot.
    How many things that were crackpot have turned out to NOT be?

  63. kyle parks says:

    Without a doubt one of the best interviews on all the moving parts in the energy economic debate I’ve seen in years. Max is on top of this one and asks all the revelant questions that show the economic growth paradigm driven by energy is running out of gas. Understanding this interaction between decreasing energy and decreasing growth in the aggregate is the key to understanding where we really are going forward. With world oil production at a plateau it becomes a zero sum game – no longer can all boats rise on an increasing pool of oil – rather as the tide rises in the East it must receed in the West. Lookout Iran.

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