Is the debt bubble supporting the world economy in danger of collapsing?

The years between 1981 and 2020 were very special years for the world economy because interest rates were generally falling:

Figure 1. Yields on 10-year and 3-month US Treasuries, in a chart made by the Federal Reserve of St. Louis, as of May 10, 2022.

In some sense, falling interest rates meant that debt was becoming increasingly affordable. The monthly out-of-pocket expense for a new $500,000 mortgage was falling lower and lower. Automobile payments for a new $30,000 vehicle could more easily be accommodated into a person’s budget. A business would find it more affordable to add $5,000,000 in new debt to open at an additional location. With these beneficial effects, it would be no surprise if a debt bubble were to form.

With an ever-lower cost of debt, the economy has had a hidden tailwind pushing it long between 1981 to 2020. Now that interest rates are again rising, the danger is that a substantial portion of this debt bubble may collapse. My concern is that the economy may be heading for an incredibly hard landing because of the inter-relationship between interest rates and energy prices (Figure 2), and the important role energy plays in powering the economy.

Figure 2. Chart showing the important role Quantitative Easing (QE) to lower interest rates plays in adjusting the level of “demand” (and thus the selling price) for oil. Lower interest rates make goods and services created with higher-priced oil more affordable. In addition to the items noted on the chart, US QE3 was discontinued in 2014, about the time of the 2014 oil price crash. Also, the debt bubble crash of 2008 seems to be the indirect result of the US raising short term interest rates (Figure 1) in the 2004 to 2007 period.

In this post, I will try to explain my concerns.

[1] Ever since civilization began, a combination of (a) energy consumption and (b) debt has been required to power the economy.

Under the laws of physics, energy is required to power the economy. This happens because it takes the “dissipation” of energy to perform any activity that contributes to GDP. The energy dissipated can be the food energy that a person eats, or it can be wood or coal or another material burned to provide energy. Sometimes the energy dissipated is in the form of electricity. Looking back, we can see the close relationship between total energy consumption and world total GDP.

Figure 3. World energy consumption for the period 1990 to 2020, based on energy data from BP’s 2021 Statistical Review of World Energy and world Purchasing Power Parity GDP in 2017 International Dollars, as published by the World Bank.

The need for debt or some other approach that acts as a funding mechanism for capital expenditures (sale of shares of stock, for example), comes from the fact that humans make investments that will not produce a return for many years. For example, ever since civilization began, people have been planting crops. In some cases, there is a delay of a few months before a crop is produced; in other cases, such as with fruit or nut trees, there can be a delay of years before the investment pays back. Even the purchase by an individual of a home or a vehicle is, in a sense, an investment that will offer a return over a period of years.

With all parts of the economy benefiting from the lower interest rates (except, perhaps, banks and others lending the funds, who are making less profit from the lower interest rates), it is easy to see why lower interest rates would tend to stimulate new investment and drive up demand for commodities.

Commodities are used in great quantity, but the supply available at any one time is tiny by comparison. A sudden increase in demand will tend to send the commodity price higher because the quantity of the commodity available will need to be rationed among more would-be purchasers. A sudden decrease in the demand for a commodity (for example, crude oil, or wheat) will tend to send prices lower. Therefore, we see the strange sharp corners in Figure 2 that seem to be related to changing debt levels and higher or lower interest rates.

[2] The current plan of central banks is to raise interest rates aggressively. My concern is that this approach will leave commodity prices too low for producers. They will be tempted to decrease or stop production.

Politicians are concerned about the price of food and fuel being too high for consumers. Lenders are concerned about interest rates being too low to properly compensate for the loss of value of their investments due to inflation. The plan, which is already being implemented in the United States, is to raise interest rates and to significantly reverse Quantitative Easing (QE). Some people call the latter Quantitative Tightening (QT).

The concern that I have is that aggressively raising interest rates and reversing QE will lead to commodity prices that are too low for producers. There are likely to be many other impacts as well, such as the following:

  • Lower energy supply, due to cutbacks in production and lack of new investment
  • Lower food supply, due to inadequate fertilizer and broken supply lines
  • Much defaulting of debt
  • Pension plans that reduce or stop payments because of debt-related problems
  • Falling prices of stock
  • Defaults on derivatives

[3] My analysis shows how important increased energy consumption has been to economic growth over the last 200 years. Energy consumption per capita has been growing during this entire period, except during times of serious economic distress.

Figure 4. World energy consumption from 1820-2010, based on data from Appendix A of Vaclav Smil’s Energy Transitions: History, Requirements and Prospects and BP Statistical Review of World Energy for 1965 and subsequent. Wind and solar energy are included in “Biofuels.”

Figure 4 shows the amazing growth in world energy consumption between 1820 and 2010. In the early part of the period, the energy used was mostly wood burned as fuel. In some parts of the world, animal dung was also used as fuel. Gradually, other fuels were added to the mix.

Figure 5. Estimated average annual increase in world energy consumption over 10-year periods using the data underlying Figure 4, plus similar additional data through 2020.

Figure 5 takes the same information shown in Figure 4 and calculates the average approximate annual increase in world energy consumption over 10-year periods. A person can see from this chart that the periods from 1951-1960 and from 1961-1970 were outliers on the high side. This was the time of rebuilding after World War II. Many families were able to own a car for the first time. The US highway interstate system was begun. Many pipelines and electricity transmission lines were built. This building continued into the 1971-1980 period.

Figure 6. Same chart as Figure 5, except that the portion of economic growth that was devoted to population growth is shown in blue at the bottom of each 10-year period. The amount of growth in energy consumption “left over” for improvement in the standard of living is shown in red.

Figure 6 displays the same information as Figure 5, except that each column is divided into two pieces. The lower (blue) portion represents the average annual growth in population during each period. The part left over at the top (in red) represents the growth in energy consumption that was available for increases in standard of living.

Figure 7. The same information displayed in Figure 6, displayed as an area chart. Blue areas represent average annual population growth percentages during these 10-year periods. The red area is determined by subtraction. It represents the amount of energy consumption growth that is “left over” for growth in the standard of living. Captions show distressing events during periods of low increases in the portion available to raise standards of living.

Figure 7 shows the same information as Figure 6, displayed as an area chart. I have also shown some of the distressing events that happened when growth in population was, in effect, taking up essentially all of energy consumption growth. The world economy could not grow normally. There was a tendency toward conflict. Unusual events would happen during these periods, including the collapse of the central government of the Soviet Union and the restrictions associated with the COVID pandemic.

The economy is a self-organizing system that behaves strangely when there is not enough inexpensive energy of the right types available to the system. Wars tend to start. Layers of government may disappear. Strange lockdowns may occur, such as the current restrictions in China.

[4] The energy situation at the time of rising interest rates in the 1960 to 1980 period was very different from today.

If we define years with high inflation rates as those with inflation rates of 5% or higher, Figure 8 shows that the period with high US inflation rates included nearly all the years from 1969 through 1982. Using a 5% inflation cutoff, the year 2021 would not qualify as a high inflation rate year.

Figure 8. US inflation rates, based on Table 1.1.4 Price Index for Gross Domestic Product, published by the US Bureau of Economic Analysis.

It is only when we look at annualized quarterly data that inflation rates start spiking to high levels. Inflation rates have been above 5% in each of the four quarters ended 2022-Q1. Trade problems related to the Ukraine Conflict have tended to add to price pressures recently.

Figure 9. US inflation rates, based on Table 1.1.4 Price Index for Gross Domestic Product, published by the US Bureau of Economic Analysis.

Underlying these price spikes are increases in the prices of many commodities. Some of this represents a bounce back from artificially low prices that began in late 2014, probably related to the discontinuation of US QE3 (See Figure 2). These prices were far too low for producers. Coal and natural gas prices have also needed to rise, as a result of depletion and prior low prices. Food prices are also rising rapidly, since food is grown and transported using considerable quantities of fossil fuels.

The main differences between that period leading up to 1980 and now are the following:

[a] The big problem in the 1970s was spiking crude oil prices. Now, our problems seem to be spiking crude oil, natural gas and coal prices. In fact, nuclear power may also be a problem because a significant portion of uranium processing is performed in Russia. Thus, we now seem to be verging on losing nearly all our energy supplies to conflict or high prices!

[b] In the 1970s, there were many solutions to the crude oil problem, which were easily implemented. Electricity production could be switched from crude oil to coal or nuclear, with little problem, apart from building the new infrastructure. US cars were very large and fuel inefficient in the early 1970s. These could be replaced with smaller, more fuel-efficient vehicles that were already being manufactured in Europe and Japan. Home heating could be transferred to natural gas or propane, to save crude oil for places where energy density was really needed.

Today, we are told that a transition to green energy is a solution. Unfortunately, this is mostly wishful thinking. At best, a transition to green energy will need a huge investment of fossil fuels (which are increasingly unavailable) over a period of at least 30 to 50 years if it is to be successful. See my article, Limits to Green Energy Are Becoming Much Clearer. Vaclav Smil, in his book Energy Transitions: History, Requirements and Prospects, discusses the need for very long transitions because energy supply needs to match the devices using it. Furthermore, new energy types are generally only add-ons to other supply, not replacements for those supplies.

[c] The types of economic growth in (a) the 1960 to 1980 period and (b) the period since 2008 are very different. In the earlier of these periods (especially prior to 1973), it was easy to extract oil, coal and natural gas inexpensively. Inflation-adjusted oil prices of less than $20 per barrel were typical. An ever-increasing supply of this oil seemed to be available. New machines (created with fossil fuels) made workers increasingly efficient. The economy tended to “overheat” if interest rates were not repeatedly raised (Figure 1). While higher interest rates could be expected to slow the economy, this was of little concern because rapid growth seemed to be inevitable. The supply of finished goods and services made by the economy was growing rapidly, even with headwinds from the higher interest rates.

On the other hand, in the 2008 to 2020 period, economic growth is largely the result of financial manipulation. The system has been flooded with increasing amounts of debt at ever lower interest rates. By the time of the lockdowns of 2020, would-be workers were being paid for doing nothing. World production of finished goods and services declined in 2020, and it has had difficulty rising since. In the first quarter of 2022, the US economy contracted by -1.4%. If headwinds from higher interest rates and QT are added, the economic system is likely to encounter substantial debt defaults and increasing breakdowns of supply lines.

[5] Today’s spiking energy prices appear to be much more closely related to the problems of the 1913 to 1945 era than they are to the problems of the late 1970s.

Looking back at Figure 7, our current period is more like the period between the two world wars than the period in the 1970s that we often associate with high inflation. In both periods, the “red” portion of the chart (the portion I identify with rising standard of living), has pretty much disappeared. In both the 1913 to 1945 period and today, it is nearly all the energy supplies other than biofuels that are disappearing.

In the 1913 to 1945 period, the problem was coal. Mines were becoming increasingly depleted, but raising coal prices to pay for the higher cost of extracting coal from depleted mines tended to make the coal prohibitively expensive. Mine operators tried to reduce wages, but this was not a solution either. Fighting broke out among countries, almost certainly related to inadequate coal supplies. Countries wanted coal to supply to their citizens so that industry could continue, and so that citizens could continue heating their homes.

Figure 10. Slide prepared by Gail Tverberg showing peak coal estimates for the UK and for Germany.

As stated at the beginning of this section, today’s problem is that nearly all our energy supplies are becoming unaffordable. In some sense, wind and solar may look better, but this is because of mandates and subsidies. They are not suitable for operating the world economy within any reasonable time frame.

There are other parallels to the 1913 to 1945 period. One of the big problems of the 1930s was prices that would not rise high enough for farmers to make a profit. Oil prices in the United States were extraordinarily low then. BP 2021 Statistical Review of World Energy reports that the average oil price in 1931, in 2020 US$, was $11.08. This is the lowest inflation-adjusted price of any year back to 1865. Such a price was almost certainly too low for producers to make a profit. Low prices, relative to rising costs, have recently been problems for both farmers and oil producers.

Another major problem of the 1930s was huge income disparity. Wide income disparity is again an issue today, thanks to increased specialization. Competition with unskilled workers in low wage countries is also an issue.

It is important to note that the big problem of the 1930s was deflation rather than inflation, as the debt bubble started popping in 1929.

[6] If a person looks only at the outcome of raising interest rates in the 1960s to 1980 timeframe, it is easy to get a misleading idea of the impact of increased interest rates now.

If people look only at what happened in the 1980s, the longer-term impact of the spike in interest rates doesn’t seem too severe. The world economy was growing well before the interest rates were raised. After the peak in interest rates, the world economy generally continued to grow. As a result of the high oil prices and the spiking interest rates, the world hastened its transition to using a bit less crude oil per person.

Figure 11. Per capita crude oil production from 1973 through 2021. Crude oil amounts are from international statistics of the US Energy Information Administration. Population estimates are from UN 2019 population estimates. The low population growth projection from the UN data is used for 2021.

At the same time, the world economy was able to expand the use of other energy products, at least through 2018.

Figure 12. World per capita total energy supply based on data from BP’s 2021 Statistical Review of World Energy. World per capita crude oil is based on international data of the EIA, together with UN 2019 population estimates. Note that crude oil data is through 2021, but total energy amounts are only through 2020.

Since 2019, our problem has been that the total energy supply has not been keeping up with the rising population. The cost of extraction of all kinds of oil, coal and natural gas keeps rising due to depletion, but the ability of customers to afford the higher prices of finished goods and services made with those energy products does not rise to match these higher costs. Energy prices probably would have spiked in 2020 if it were not for COVID-related restrictions. Production of oil, coal and natural gas has not been able to rise sufficiently after the lockdowns for economies to fully re-open. This is the primary reason for the recent spiking of energy prices.

Turning to inflation rates, the relationship between higher interest rates (Figure 1) and annual inflation rates (Figure 8) is surprisingly not very close. Inflation rates rose during the 1960 to 1973 period despite rising interest rates, mostly likely because of the rapid growth of the economy from an increased per-capita supply of inexpensive energy.

Figure 8 shows that inflation rates did not come down immediately after interest rates were raised to a high level in 1980, either. There was a decline in the inflation rate to 4% in 1983, but it was not until the collapse of the central government of the Soviet Union in 1991 that inflation rates have tended to stay close to 2% per year.

[7] A more relevant recent example with respect to the expected impact of rising interest rates is the impact of the increase in US short-term interest rates in the 2004 to 2007 period. This led to the subprime debt collapse in the US, associated with the Great Recession of 2008-2009.

Looking back at Figure 1, one can see the effect of raising short-term interest rates in the 2004 to 2007 era. This eventually led to the Great Recession of 2008-2009. I wrote about this in my academic paper, Oil Supply Limits and the Continuing Financial Crisis, published in the journal Energy in 2010.

The situation we are facing today is much more severe than in 2008. The debt bubble is much larger. The shortage of energy products has spread beyond oil to coal and natural gas, as well. The idea of raising interest rates today is very much like going into the Great Depression and deciding to raise interest rates because bankers don’t feel like they are getting an adequate share of the goods and services produced by the economy. If there really aren’t enough goods and services for everyone, giving lenders a larger share of the total supply cannot work out well.

[8] The problems we are encountering have been hidden for many years by an outdated understanding of how the economy operates.

Because of the physics of the economy, it behaves very differently than most people assume. People almost invariably assume that all aspects of the economy can “stay together” regardless of whether there are shortages of energy or of other products. People also assume that shortages will be immediately become obvious through high prices, without realizing the huge role interest rates and debt levels play. People further assume that these spiking prices will somehow bring about greater supply, and the whole system will go on as before. Furthermore, they expect that whatever resources are in the ground, which we have the technical capability to extract, can be extracted.

It is important to note that prices are not necessarily a good indicator of shortages. Just as a fever can have many causes, high prices can have many causes.

The economy can only continue as long as all of its important parts continue. We cannot assume that reported reserves of anything can really be extracted, even if the reserves have been audited by a reliable auditor. What actually can be extracted depends on prices staying high enough to generate funds for additional investment as required. The amount that can be extracted also depends on the continuation of international supply lines providing goods such as steel pipe. The continued existence of governments that can keep order in the areas where extraction is to take place is important, as well.

What we should be most concerned about is a very rapidly shrinking economic system that cannot accommodate very many people. It seems that such a situation might occur if the debt bubble is popped and too many supply lines are broken. There may be a time lag between when interest rates are raised and when the adverse impacts on the economy are seen. This is a reason why central bankers should be very cautious about the increases in interest rates they make as well as QT. The situation may turn out much worse than planned!

About Gail Tverberg

My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
This entry was posted in Energy policy, Financial Implications and tagged , , . Bookmark the permalink.

4,216 Responses to Is the debt bubble supporting the world economy in danger of collapsing?

  1. Fast Eddy says:

    “Pfizer CEO Bourla predicts ‘constant waves’ of COVID-19 because of complacency around the coronavirus and the politicization of the pandemic”; what utter bullshit Bourla speaks, horseshit!

    https://palexander.substack.com/p/pfizer-ceo-bourla-predicts-constant

    • ivanislav says:

      To be expected. He’s just talking his book, trying to turn seasonal colds into a government-subsidized massive revenue stream.

  2. Fast Eddy says:

    Gut-wrenching video showing desperate parents trying to get away to go save their kids as police restrain them and walked around:

    Desperate parents

    How did the shooter know the side door was unlocked? Why were there police in the building 4 minutes after he entered and what were they doing? Forget those outside, there were police in the building we are told. What were they doing for the one hour the police outside waited….? So there were police outside preventing the parents from rushing in and not doing anything for one hour, while there were also some police inside for an hour?

    If true, something devastating happened here. We need to know. Why would they need to pin down a parent? To stop him from rushing in? To save his baby? But you did nothing! I am so torn up by what is being reported and we have to be fair for we are watching but what is emerging is damaging. They failed! Yet as far as I know, there was enough learning from Columbine on why they had to rush in first on the scene, no waiting.

    https://palexander.substack.com/p/uvalde-texas-parents-begging-police

    • holograms can be so lifelike these days eddy

      just like those planes that didn’t fly into the WTC building

      • Kim says:

        No plane of any kind, hologram or otherwise, flew into Building 7, yet it also collapsed into its own footprint.

        • Sam says:

          What about the pentagon one too 😏

          • postkey says:

            “9/11 CNN Pentagon Report – NO PLANE – Only Aired Once
            00:00 actually was bob franken with and
            00:01 eyewitness who said it appeared that
            00:03 that Boeing 757 the American jet
            00:06 American Airlines jet landed short of
            00:09 the Pentagon can you give us any better
            00:12 idea of how much of the plane actually
            00:13 impacted the building you know it might
            00:16 have appeared that way but from my
            00:18 close-up inspection there’s no evidence
            00:20 of a plane having crashed anywhere near
            00:22 the Pentagon the only site is the actual
            00:26 side of the building that’s crashed in
            00:27 and as I said the only pieces left
            00:30 that you can see are small enough that
            00:32 you could pick up in your hand there are
            00:34 no large tail sections wing sections a
            00:37 fuselage nothing like that anywhere
            00:39 around which would indicate that the
            00:41 entire plane crashed into the side of
            00:43 the Pentagon and then caused the side to
            00:46 collapse now even though if you look at
            00:47 the pictures of the Pentagon you see
            00:49 that the floors have all collapsed that
            00:51 didn’t happen immediately
            00:52 it wasn’t until almost about 45 minutes
            00:55 later that the structure was weakened “

            https://www.youtube.com/watch?v=7BNqgNvUhRQ

            It was available about 3 years ago!

            Now: “This video has been removed for violating YouTube’s policy on hate speech. Learn more about combating hate speech in your country.”

        • Fast Eddy says:

          Add that to the list of questions that norm will never address.

      • Kowalainen says:

        It is okay to be a former tryhard Beta male projecting the geriatric mess instead of the statuses and symbols of generic rapacious primatery.

        INDEED WE NEED MOAR NORMAL!

        Yes Normal, your job as a tryhard Beta is to placate the MOARon females while parroting the official narrative.

        YOLO!
        MOAR!

        🤣👍👍

        • Part of current status for older people is “staying up with what is recommended for vaccines, including boosters.” So, in a way, getting boosters can be status seeking.

          • Fast Eddy says:

            In many countries instead of good morning or good afternoon they say – have you had your booster today as a greeting

        • Fast Eddy says:

          norm is just trying to impress his blow up doll… as long as he has enough puff to inflate her she’s happy with him.

      • I1 says:

        I found Ace Baker’s “key” video quite good.

        https://m.youtube.com/watch?v=xRCDUlo798k

        • i lasted 20 seconds into the intro

          • I1 says:

            Sorry you dozed off, try this book instead-

            https://www.amazon.com/Ground-Zero-Model-Heinz-Pommer/dp/B08B384LQS

          • Fast Eddy says:

            Let’s focus on building 7

            https://youtu.be/zRpCwKRnL1M

            NIST confirms its Building 7 report is indefensible — Part 1 of 5

            On August 21, 2008, exactly six years to the day after launching its investigation into the destruction of the World Trade Center’s Twin Towers and the nearby World Trade Center Building 7 — a 47-story high-rise not hit by an airplane that nonetheless fell to the ground at 5:20 PM on 9/11 — the National Institute of Standards and Technology held a press conference to announce the release of its draft report on Building 7. Its report on the Twin Towers had been issued three years earlier.

            NIST’s lead investigator, Dr. Shyam Sunder, gave prepared remarks and fielded questions for about 50 minutes, then concluded the Q&A session with an unusual admonishment for a scientist to make:

            “The public should really, at this point, recognize that science is really behind what we have said.”

            Dr. Sunder then stood there in silence as the director of media relations, Ben Stein, wrapped up the briefing.

            https://www.ae911truth.org/evidence/technical-articles/articles-by-ae911truth/845-nist-confirms-its-building-7-report-is-indefensible-part-1-of-5-the-omitted-web-stiffeners

            BTW – my older brother worked for these people and was involved in designing tall buildings https://www.som.com/ He called bullshit on the 911 story from day one… ‘can’t happen’

            He has mates who are engineers and they call bullshit too.

            I asked him why he doesn’t sign up to the architects and engineers truth 911 site — he runs his own firm and said ‘what’s the upside to doing that?… the downside is I lose government contracts because clearly nobody wants to truth… and I get labelled a conspiracy theorist and that damages my reputation. F789 it… If I sign on that will change ZERO… so thanks but no thanks’

            This is what I am sure loads of doctors are saying about CovCON…. they understand resistance is futile… so they

  3. Fast Eddy says:

    Dr. Naomi Wolf: ‘28% Of Vaccinated Pregnant Women’ Suffered From ‘Serious Adverse Effects’, Steve Bannon-WAR ROOM

    https://palexander.substack.com/p/dr-naomi-wolf-28-of-vaccinated-pregnant

  4. Fast Eddy says:

    Uvalde Texas parents begging police to rush in, begging to be allowed to rush in themselves, and when you watch this video, it angers you; something very very wrong happened here! police FAILED!

    Why did they not rush in? This was not a hostage situation, this was ACTIVE shooting, there was no time to wait, they had to go on and we know now, police were in the building and outside, not acting

    https://palexander.substack.com/p/uvalde-texas-parents-begging-police

    Very strange this….

    • drb753 says:

      You are such a sweetheart, Eddy. You talk and talk about the UEP (I prefer this version), and then you have your underwear in knots over mere details. This post tallies with the one where you were outraged about puppies being mistreated by Big Pharma.

      • vbaker says:

        The UEP is Gallows Humour, whereas people not doing their job that they had taken an oath to perform, as parents nearby imagine their children are being executed… Well, that should make anyone angry enough to demand inquiry and change.

        Instead, this is just another curious story… we have lost our dignity, our rights, and our willingness to protect what made our society special.

        • drb753 says:

          it seems too late for everything. people including police have just changed for the worse. they might not know about Hubbert peak but they sense which way society is going.

          • MM says:

            Average net energy availability does no longer match with information processing requirements.

          • Fast Eddy says:

            We’re just reverting to the norm … we’ve had it soft with all this oil so the beast has been quiet

  5. Michael Le Merchant says:

    CPI numbers are released June 10.

    In 2008, 2 consecutive months of CPI declines proceeded the stock market collapse. High commodity prices were not reflective of demand but rather the speculative options market.

    Demand has fallen yet prices have risen. Wonder which one is wrong…
    https://pbs.twimg.com/media/FTvMWhvXEAgcBef?format=jpg&name=large

  6. Michael Le Merchant says:

    The number of idle ships off China’s coast is reaching a new level of insanity.
    https://pbs.twimg.com/media/FTupVmfXsAA_iYP?format=jpg&name=large

  7. Michael Le Merchant says:

    After a World Economic Forum discussion on the energy crisis (oil and gas, specifically), Indian natural gas and petroleum minister Hardeep Singh Puri admits the Davos perspective is disconnected from the reality elsewhere in the world.
    https://twitter.com/AndrewLawton/status/1529565211014967301

    • No kidding!

      • Fast Eddy says:

        All the world’s a stage… or better still a matrix…

        And the Indian minister just admitted that…. you play your role — even though you know it’s bullshit… cuz if you refuse – you will be replaced…

        He knows that the MOREONS need to be made to believe the future is powered by solar hopium… otherwise … they lose hope…

        Amusing… many people claim world leaders are unaware of the situation — that they stupidly build out solar and wind farms… not understanding that is futile..

        The thing is…

        A solar wind farm is a symbol … of hope… doesn’t matter if they waste a billion dollars on the farm… we spend $$$ (energy) on loads of pointless endeavours… what’s the difference between building out a new ski hill spending the energy on something that is totally pointless — people going round and round on a lift…duh…..

        Or how about building ferris wheels… or roller coasters….. totally useless …

        End of the day jobs are created and energy burned whether it’s a ski hill or a solar farm… the farm at least generates some energy …

        But that’s not why they built the solar farm…. it’s all about sending a message — we are transitioning off of fossil fuels!!!

        Those in command are not stupid – they understand all of this — they know The Real Deal… the Indian minister just admitted it.

        The MOREONS cannot be told the truth. They’d commit soosiside

  8. Harry McGibbs says:

    “China State-Backed Builder Rocks Bond Market With Extension Plan.

    “A Chinese property company long considered among the nation’s most resilient shocked investors with a proposed dollar-bond payment delay, raising fresh doubts about the financial strength of the industry’s higher-rated borrowers.”

    https://www.bloomberg.com/news/articles/2022-05-27/greenland-seeks-possible-repayment-delay-as-bond-prices-tumble

  9. postkey says:

    Taking ‘capacity’ into account?

    “ . . . 7:44 is that natural gas and
    7:48 hydro would be far far more expensive
    7:52 than wind solar and batteries
    7:54 and if you calculate these numbers
    7:57 correctly
    7:58 so we need it so it’s important to make
    8:00 the right investment decisions to get
    8:02 the best value
    8:04 when we build a power plant have i got
    8:05 that correct yeah so so this is
    8:07 this is even it gets even more
    8:09 interesting markham because
    8:11 even with inaccurate lcoes for
    8:14 conventional
    8:15 generation the cost solar uh
    8:18 in wind are already the cheapest sources
    8:21 of energy on the planet . . .
    9:49 so in the case of gas in 2020
    9:53 when you correct the lcoe gas is 60%
    9:56 higher than published reports coal is
    9:59 four times higher than published report
    10:03 wind i mean hydroelectric
    10:06 is three times higher than reported
    10:10 so again even with inaccurate
    10:13 wildly lower than reality lcoes
    10:17 solar and wind and batteries are still
    10:19 cheaper but the gap
    10:20 is widening by a lot when you correct
    10:23 for the lcoe of conventional generation . . . “ ?

  10. Herbie Ficklestein says:

    A French financier jumped to his death from a luxury Manhattan high-rise near the United Nations Thursday while taking a tour of a unit with a real estate agent, police sources said.

    The 43-year-old man, identified as Charles-Henry Kurzen, plummeted from a 32th-floor balcony at 100 United Nations Plaza in the Turtle Bay neighborhood around 1:15 p.m. and landed on a third-floor patio, a police spokesman said.

    The French businessman, who was living in Brooklyn, was touring the apartment when he asked the agent to show him to the balcony and “then suddenly jumped off” to his death, the sources said.

    He was pronounced dead at the scene.

    Kurzen, a financial banker and graduate from the Ecole Superieure de Commerce de Paris (ESCP) Business School, was a partner at Saltbox Partners LLC and had years of experience in the French and New York financial industry, according to the company’s website.

    He had previously worked as an analyst in the Mergers and Acquisitions Group at Lazard Freres & Co. in Paris, the site states.

    A coworker declined to comment when reached, but described him as a dear friend.

    He was quoted in a 2004 New Yorker article as an attendee of “French Tuesdays” — a group of weekly parties hosted for French ex-patriots in New York City.

    Perhaps when he heard the months rent that drove him over the edgel

  11. Lastcall says:

    ‘If you’re under 18, you’re a shocking 51 times more likely to die from the jab than you are to die from COVID if not vaccinated. In the 18 to 29 age range, the shot will kill 16 for every person it saves from dying from COVID, and in the 30 to 39 age range, the expected number of vaccine fatalities to prevent a single COVID death is 15. Only when you get into the 60 and older categories do the risks between the jab and COVID infection even out.’

    https://articles.mercola.com/sites/articles/archive/2022/05/26/worst-excuse-vaccine-failure.aspx

    But you know, we have to get along…

    • Wet My Beak says:

      Bugger! I’m 59.

    • Fast Eddy says:

      What does the mike guy say… take more shots so you can go to the pie shop… pie shop is very important here in NZ… must have daily pie….

  12. Wet My Beak says:

    As the horror of diversity plays out in the world’s most politically correct country, sad new zealand, babies are being slaughtered:

    https://www.stuff.co.nz/national/crime/300599587/police-launch-homicide-investigation-after-death-of-baby-in-tara-south-auckland

    Such tragedies will undoubtedly become more frequent as prosperity falls and the ethnic underclasses are further diminished.

    Partitionment is one obvious solution.

    • Fast Eddy says:

      If anyone wants to know what it’s like to live in NZ… watch Once Were Warriors… then consider since that was filmed the country now has a massive meth addiction problem… poverty is far worse… Auckland experiences constant gang violence including shootings….

      And … ‘this’ is the PM

      https://media1.tenor.com/images/b4b80cb42039eab9448eb05594097dd5/tenor.gif

      Her partner knocked up the nanny and deals drugs….

      This country is a f789ing joke.

      • Wet My Beak says:

        Sad new zealand is a modern day tragedy. Not safe. Low income. High inflation. Suicide and murder rampant.

  13. Fast Eddy says:

    I WONDER HOW MANY NZ PILOTS ARE STILL FLYING, KNOWING THAT THEIR HEALTH IS “NOT RIGHT” SINCE THEY TOOK THEIR MANDATED SHOTS…

    https://thehighwire.com/videos/i-know-so-many-active-pilots-with-myocarditis/

    “I KNOW SO MANY ACTIVE PILOTS WITH MYOCARDITIS”
    POSTED: May 20, 2022

    ARE YOU WONDERING WHY CURRENTLY IN NEW ZEALAND THERE ARE OVER 3 TIMES AS MANY BOOSTED TESTING POSITIVE FOR COVID VS UNVACCINATED?

    Here are 7 papers explaining why this could be happening…

    And here is the RNZ covid data portal where you can see for yourself…

    https://palexander.substack.com/p/7-studies-that-help-explain-why-the?

    https://www.rnz.co.nz/news/in-depth/450874/covid-19-data-visualisations-nz-in-numbers

    OFFICIAL CDC CALL ABOUT MONKEY POX ON 23 MAY…

    with music and monkeys added to cushion the blow..

    https://twitter.com/i/status/1529321123959144449

    Twitter (https://twitter.com/i/status/1529321123959144449)
    Dr. William H. Gates (Willy Billy to my friends)
    🐵Special Edition🐵 Official CDC Call about #MonkeyPox Vaccines on 5/23/2022. Yes this call really happened. Music was added along with monkeys, etc. You’re welcome.

    • Wet My Beak says:

      You’d be a brave person to fly on an nz Ere-bus.

      • Kowalainen says:

        Practice flying on MS flight sim before embarking on any aircraft with a vaxxed up cockpit.

        You might have to bring ‘er down if there’s any medical incident in the cockpit.

  14. Fast Eddy says:

    ARDonkey (OURDONKEY) speech Harvard:

    I Have to Be Cruel to Be Kind

    Ardern said her speech was about kindness, presumably that special brand of kindness that is hard to recognise. As Hamlet said after berating his mother “I have to be cruel to be kind”.

    Was Ardern’s brand of kindness at work when she famously deleted in a single night 33,000 comments on her feed informing her of personal stories of the adverse effects of Covid vaccination?

    Ardern might just as well have entitled her speech: “I have sat on my hands and refused to read my emails. I insist that other MPs do the same. I am the sole source of truth. The world needs this.”

    This is as close as she will get to acknowledging UEP… in fact she may have gone a smack for saying this … but without a doubt — UEP is Cruel – but UEP is kind.

    Cruel is vax damage — psychological damage from lockdowns — economic damage…

    Kind is — all of the above are acts of kindness – because they will contribute to preventing the Ripping of Faces of 8B should UEP succeed.

    UEP is real. ARDonkey just admitted it. She deleted those vax injury comments because they sadden her… she is not a monster (just looks like a donkey)… of course she feels for these brave souls who sacrificed for UEP…

    She will have regular sessions with the psychologists – from the very start – to help here deal with this … she will be given drugs to help her — Xanax etc… stuff that numbs the pain … beta blockers for anxiety….

    See how she often looks frazzled in press conferences… recall that bizarre Trudeau conference a couple of months ago – he was out of his mind …. these people are DRUGGED.

    They are involved in exterminating the species… they are doing a necessary job – they know it – and I know it… they are the unsung heroes…. If it were me I’d do a John Key and say … nah… don’t wanna spend me final years doing that… I’m outta here… and I’d go sailing (if I knew how to sail) … and to the VIP room.

    But there you have it. UEP – You Have to be Cruel to be Kind.

    • Wet My Beak says:

      The devil has many guises. One is a charismatic buck-toothed socialist who is hated in her own country.

      There was a time when a Harvard degree meant something.

      • Lastcall says:

        The creature from the deep wore a pink outfit on that show on NZ’s ‘Pink Shirt Day’; a day where wokesters wear something pink to signify anti-bullying stance in the workplace.
        This after 2 years of herself and her people bullying 100’s of thousands of people into getting a gene modifying injection against their will.
        The Truth is very ev1l person

  15. Fast Eddy says:

    The Necessity of Kindness

    This morning Jacinda Ardern received an honorary doctorate from Harvard University, hitting out in her acceptance speech against keyboard warriors spreading disinformation:

    “When facts are turned into fiction, and fiction turned into fact, you stop debating ideas and you start debating conspiracy.”

    Was she echoing Orwell’s 1984?

    “His mind slid away into the labyrinthine world of doublethink. To know and not to know, to be conscious of complete truthfulness while telling carefully constructed lies…to repudiate morality while laying claim to it,…to believe that the Party was the guardian of democracy.”

    Ardern continued with a sordid use of imagery worthy of Orwell:

    “In my mind, when I read something especially horrific on my feed, I imagine it’s written by a lone person, unacquainted with personal hygiene practices, dressed in a poorly fitted superhero costume – one that is baggy in all the wrong places.”

    I Have to Be Cruel to Be Kind

    Ardern said her speech was about kindness, presumably that special brand of kindness that is hard to recognise. As Hamlet said after berating his mother “I have to be cruel to be kind”.

    Was Ardern’s brand of kindness at work when she famously deleted in a single night 33,000 comments on her feed informing her of personal stories of the adverse effects of Covid vaccination?

    Ardern might just as well have entitled her speech: “I have sat on my hands and refused to read my emails. I insist that other MPs do the same. I am the sole source of truth. The world needs this.”

    The historical antecedents of the rejection of protestors, writers, and intellectuals as irrelevant, dirty, and dangerous spreaders of disease and disinformation certainly escaped Ardern and probably most Harvard graduates. The 1930s don’t feature much in modern curricula.

    Ignorance is No Excuse

    As all cause mortality rises, as another new study shows the immune system of the vaccinated exhibits dangerous antibody instability, as infections and hospitalisations among the vaccinated overtake the unvaccinated, we no longer need to speculate about where this is going.

    History tells us that it will end badly for many. An outcome of which Ardern appears to be determined to remain ignorant and condemn as conspiracy without discussion—by government decree.

    But of course, it is much worse than mere ignorance, as Sir Walter Scott said:

    “OH WHAT A TANGLED WEB WE WEAVE, WHEN FIRST WE PRACTICE TO DECEIVE.”
    Master of Disinformation

    Ardern is a master of disinformation, coercion, and suppression. Her continuing (but thankfully waning) popularity is a reflection of her practice of controlling the media through continuing large cash grants and revenue from saturation Covid vaccination advertising (aka old fashioned bribery).

    As a result, New Zealanders are dying in greater numbers not only unaware that this may have anything to do with Covid vaccination but actually told by the government that it does not and cannot.

    The cardiac wards are overflowing, but governments are not letting on. In the history of mass poisoning, there is no parallel in the world.

    When Is a Crime Not a Crime?

    When the government says so. This happens when the government and the medical profession not only cannot be held accountable for their actions but wilfully exploit this loophole to the full.

    We have reached the apogee of the era of unaccountably disregarded consequences for which Ardern is the unapologetic international poster child.

    Ardern’s Harvard speech reportedly generated emotional rapture. She received a standing ovation. What does that mean for our future and the future of the world?

    Be safe, stand strong, and stick together.

    Guy Hatchard

  16. Fast Eddy says:

    Still spewing the same old lie

    Pfizer CEO Albert Bourla: “You vaccinate not only for yourself, you vaccinate also to protect society, particularly to protect those that you love the most”.

    With a product that doesn’t prevent transmission? These people are insane.

    https://t.me/TommyRobinsonNews/36025

    Shingles ads https://t.me/TommyRobinsonNews/36031

    They wonder why police aren’t respected anymore, when they’re not kneeling for BLM Marxists, they’re driving around in rainbow flag cars and now doing this…

    https://twitter.com/MPSUpprEdmonton/status/1528057099711823872?t=tvlqASjerDbsUrVPkD9J6A&s=19

    (and primary school kids are watching tranny shows and fiddling with hard veggies cuz the teach said so)

    This is very strange…given US cops are Rambos:

    So it’s transpired police stood outside the Texas school while the killer rampaged inside, reportedly the father being held here lost his kid in the massacre.

    Onlookers yelled at them to go in. They didn’t. One parent urged bystanders:

    “Let’s just rush in because the cops aren’t doing anything like they are supposed to.”

    Who gave this order?

    https://twitter.com/paleofuture/status/1529652093354536961?t=8AZlxvwlE19u5oqlC9tZsA&s=19

    https://apnews.com/article/uvalde-texas-school-shooting-44a7cfb990feaa6ffe482483df6e4683

  17. Fast Eddy says:

    Evil will commit evil even if there are no guns…

    Well ya… but there ain’t people going around bulk murdering at Costco in any other countries… so perhaps the argument could be made that guns enable evil to commit lots of evil…

    https://t.me/chiefnerd/3682

    I’d stay away from that argument and maybe focus on the fact that having guns keeps your government from Australianing you as they did during the last rounds or lockdowns there…

    I am 100% Pro Gun. Everyone should have a multiple weapons including automatic weapons – unlimited amounts of ammo….

    Ya so a few people get shot up from time to time… I’m spinning that as collateral damage… the price you pay for freedom.

    • I came across a salient comment I’ll paraphrase here: why is it that the most publicized of US mass shooters are somehow ‘inspired’ to shoot up elementary schools or movie theaters?

      Why should there be attempts on innocents among the disgruntled and virtually no attempts on those who might be perceived as the architects of one’s existential pain?

      Why should the disgruntled take their alleged rage out on schoolchildren rather than on [town officials, cops, politicians, big biz, big tech, hospitals, CPS, psychiatrists, insurers, lawyers, courts, repo men, etc.] ? Why don’t we see dozens of attempts of the latter kind for every one on elementary schools?

      Certain narratives seem driven by the type of mediagenic victim rather than anything that might make organic sense to a perpetrator.

      BTW, 3/4 of mass shootings in the US are carried out by and among blacks.
      https://www.unz.com/isteve/nyt-nearly-75-of-mass-shooters-are-black/

      NYT: “Blacks are six times as likely as whites to be both victims and offenders.”

      • Wet My Beak says:

        Teachers and older students should be armed in American schools.

        • Fast Eddy says:

          100% in support of that… and they should be allowed to shoot a student dead if misbehaviour happens in the classroom. Shoot 2 Kill. S2K.

          This is another of my election platforms… Enough of these mouthy students.. And we know that is caused by bad parenting so the parents should be the ones who get whipped if the kid is unruly… bring those parents in and make them pay with a severe hiding. And I mean a hiding that would be considered severe by an 1800s plantation owners.

          Teach Them a Lesson.

        • drb753 says:

          you might really need to read that salient comment.

      • Azure Kingfisher says:

        “Why is it that the most publicized of US mass shooters are somehow ‘inspired’ to shoot up elementary schools or movie theaters?“

        Answers: the scriptwriters have grown lazy and schools and movie theaters are logistically easy to control venues for running drills and staging fake shootings. The venues need to be relatable and accessible for the general public.

        “Why should there be attempts on innocents among the disgruntled and virtually no attempts on those who might be perceived as the architects of one’s existential pain?”

        Answer: the intended takeaway messages are: “you are surrounded by potential psychopaths who are willing to shoot you and/or your children at any moment;” “you and your fellow citizens are potential domestic terrorists who are incapable of self-governance, responsible firearm usage and ownership – your lives need to be more strongly governed and restricted, for your own safety;” “your society is unstable, unpredictable, frightening, and dangerous. You need to increase taxpayer funding for security, police, and military personnel – in short, you desperately need our protection (never mind the fact that your government is the actual source of your terror via the widespread dissemination of false though horrific and violent narratives).”

        A narrative in which a lone gunman manages to slip into a heavily guarded billionaire’s compound and murder the “architect of one’s existential pain” would never be publicized. The public would empathize with, if not celebrate, the gunman and the governors would fear the potential encouragement of copycat actors.
        The purpose of publicized mass shootings is to instill fear in the governed while deflecting attention and aggression away from the governing. There is “us,” the governed, and there is “them,” the governors. “Them” are constantly running psychological operations against “us” (e.g. COVID-19, Climate Change, Terrorism, Mass Shootings, the Nuclear Threat, etc.) – forever and always, there is something for “us” to fear. “Them” spend a lot of time, money, and energy on providing us with new sources of fear.
        For an edifying example of this method of governance, consider watching M. Night Shyamalan’s “The Village.” I’ll always remember William Hurt’s line to his daughter, after he reveals to her the truth about the horrible terror that threatens their community:

        “It is farce.”

        • As I see it, we need to stop publicizing these events, even when people are killed.

          We need to stop having drills at schools and churches relating to such events. They are too much like planning for pandemics.

          In some ways, these events are a product of the high energy we throw at them. If a mentally ill person wants lots of fame, this is the way to get it.

        • JMS says:

          Azure, i like the way you think.
          The American state urgently needs, in view of the inevitable decline and an expected social upheaval, to recover 400 million weapons from the hands of the American people. Since gun ownership in the US is a constitutional right, the desired repeal of this right requires a strongly emotional PR campaign, and what is more emotional than “death of innocent school children”? So I predict that this campaign will continue in the coming months, until the expected result is achieved. Machiavelli is more alive than ever!

          • Fast Eddy says:

            I’d enjoy watching them trying to recover them… considering most of the military would support gun ownership

          • Fast Eddy says:

            Another policy for my election platform will be hand guns for everyone over 16 in NZ… with someone like FE as PM at some point the hordes will be happy with that policy

        • Fast Eddy says:

          Sounds about right.

          Not hard to identify folks who have been bullied / have mental issues etc… jack them up on Xanax and harder core stuff… after befriending them (they have no friends…) … show em how to use an armalite… then show them how to drive (the shooter didn’t have a license)… and kapow… it’s a done deal

          Remember Operation Northwoods? The Elders have zero scruples… they would incinerate babies if it was necessary – oh right they basically did that to 500k Iraqi kids hahaha

      • Fast Eddy says:

        Why did the police wait an hour?

        Remember the guy who shot the shit out of the people at the concert in Vegas – never heard much about that did we….

        Something is off about all of this…

        Maybe it is a virtual simulation and one of the players just decided he’d choose an avatar and start shooting?

        • do try to cease attention seeking eddy

          it’s an embarrasment now

        • Azure Kingfisher says:

          Regarding the Vegas shooting, below is my favorite summation from an online meme:

          Stephen Paddock: “So I bring 400 pounds of equipment up 30 floors, set up a concealed sniper nest, disarm fire alarms and other security systems (at a casino), remove a window that’s 800 pounds of hurricane-proof glass, then for 10 minutes shoot as many people as possible with no training or motive whatsoever?”

          Government spook: “Yes.”

      • Fred says:

        Mind controlled dupes mostly. i.e. made schizoid by mind-altering techniques and kept on ice until they’re needed.

        The guy who killed John Lennon for no particular reason was a great example. Couldn’t have a popular figure re-emerge and start talking about peace.

      • D. Stevens says:

        In primate hierarchies the abuse travels down the social ladder. If the big ape is making life miserable for those lower down in status those apes will then take it out on whoever is even weaker and lower. It’s very stressful being a social ape. That’s the only explanation I can think of why these ostracized loner misfit types lash out at those weaker than them instead of at whoever they think their tormenter is. Assuming it’s not a psyop designed to get a response from the general public.

        • MM says:

          Some days ago there was a police raid in a Favela in South America. They took out a nest of a Gang, terrorizing the Favela dwellers with ransom.

      • Kim says:

        Andrew Anglin offers an answer:

        https://www.unz.com/aanglin/just-answer-the-question-ted-why-do-these-mass-shootings-only-happen-in-america/

        “Well, there are a lot of things different about America – none of which Ted Cruz wants to talk about:

        – America is the most “progressive” and “liberal” country in the world

        – America has the world’s highest rate of prescription psychotropic drug use

        – America has the world’s highest rate of untreated mental illness

        – America has the ugliest manmade structures in the world, creating urban environments that are alienating and dehumanizing

        – America is one of the most pornography-riddled countries, and also one of the least sexually active countries

        – America has one of the highest divorce rates in the world

        – America has one of the lowest marriage rates in the world

        – America has the highest rate of children living in single-parent homes

        – America has the least social cohesiveness as a result of being the most diverse country in the world

        – Perhaps most importantly: America has a mass intelligence apparatus with a well-documented history of running utterly amoral psychological operations against their [sic] own population”

      • Ed says:

        Lidia because their whole life’s experience is public school. They do not think of the town hall or the state hose, or congress.

    • Bobby says:

      No easy answer Eddy.

      Everybody should have a gun, especially Jenny from Aerosmith’s Jenny’s gota gun? When there are stricter limits on access around licensing and places one may carry, this might make us safer., but it’s never going to be fool proof.

      Of course here on OFW we all know a Gun is a Gun and not a firearm, because a firearm is a firearm and not a Gun.

      Ahh, Jenny? Can I see your ‘Gun’,..I mean howitzer license……ppplease… pretty please?

      It would seem upright citizens should have the ability to obtain and access weapons. In other words people like me (lol) should have access, but not that so n so down the road cos they are an X.Ying Zidiot!

      Sometimes I would feel a lot better knowing I had access, when the world seems heading the way it is, When governments becomes totalitarian, it might in fact be absolutely necessary.

      Other times I think, how much is this perception actual reality or a state in one’s mind. The world seems a scary, threatening place because one’s mind is a fearful and scary place. Isn’t it like this sometimes in life, the world is a mirror, it echos the tunes we play, They say know your enemy, who’s the enemy?

      End of the day, an upright citizen is just a designation, is one always qualified as safe enough to carry, and is a person always stable?. Are they going to respond appropriately when the shit hits or not?

      After a person kills with firearms we kind of try to judge or justify. It all depends on the context. Did they offend or defend? Was it misfire, a reaction, friendly fire or outright deliberate.

      Guns will always create victims in the right or wrong hands ..the price of freedom I wonder Freedom from what, What the flip is freedom?

      Is the government taking away my weapons in order to take away my freedom/life later. If we exist with in a functional society, the government is most likely going to successfully remove my defensive capabilities if they can.

      Is the government forcing me to take a weapon to take away my freedom/life later? By sending me to war. It is very likely If we exist with in a functional society, the government is most likely going to successfully force me to take weapons and brainwash me if they can

      Any sane being knows sometimes they’re not sane, and when others seem mad and threatening comes the test indeed. If authorities do it it’s even worse.

      In the middle of a war just remember you’re probably going to be being asked to shoot other innocent deluded beings. refuse to shoot other innocent brainwashed beings and you might be shot yourself. If you’re forced to shoot, shoot the people who tell you to shoot people…would that be the end of problem? Or the beginning of it? .. Is it ‘Jenny, borrow me your GUN! or is it ‘Run away, Run away from the Pain yyyayaayayauain!

      • Fast Eddy says:

        The MOREONS would be more polite… if concealed carry was lawful…. it would put an end to bullying….

  18. Fast Eddy says:

    governments are peak oil literate — what did they do about it pre peak – go to war over oil…

    Now that peak oil is here what will they do – no idea — they will NOT tell us.

    https://youtu.be/MskRocubx08?t=3773

    UEP – this is why every country on the planet is injecting… no push back

    • FE, I go back and forth on this. When I look at the people promoting the lockdowns and vacxes and such, they simply don’t seem that smart or wise.

      I think most entities can’t comprehend their obsolescence in the same way it’s hard for most individuals to (truly) comprehend that they will die one day.

      Even if one lives to be 97, tendentially one doesn’t stop doing what one is capable of doing—getting out of bed in the morning, getting dressed, making coffee, walking the dog or whatever—because one is going to die one day, and so neither will any organization stop doing what it’s doing because it is going to die one day.

      What percentage are the “literate” executioners and what percentage the jobsworth drones in these institutions, d’ya think?

      What does “going to war” gain? It generally serves to burn resources inordinately, perhaps in service to the MEPP: that whatever energy can be wasted, will be wasted, as quickly and vigorously as possible.

      • Fast Eddy says:

        The fake war in Ukraine is a stroke of genius… it allows the Elders to blame high oil prices and supply chain breakdowns and inflation on … the war in Ukraine…

        It’s a transitory thing cuz the war has to end… so nobody gets wind of the fact that inflation was ripping higher before the Ukraine ‘war’… and will continue if Ukraine ever ends — cuz it’s not transitory – we are running out of oil.

        But the hordes will never work that out — it’s Putin’s fault.

        • Fred says:

          It’s real enough for the poor Ukrainian suckers being blown to bits at a rate of 250-500 a day. That’s what you get for letting Nazis take over.

          The elites want Russia divvied up for its resources – they say that openly. Russia knows this and having lost 30million people to Nazis in WWII, they’re not going to let it happen again.

          Trouble is the elites are so deluded by their own BS they can’t process that the “gas station masquerading as a country” is tossing their plans in the dumpster.

          • Kim says:

            The people that Russia and Eastern Europe lost in WW2 and prior (in the Holodomor, in the Russian civil war, in the repressions and famines of the 1920s during collectivization and domestication of the serfs and kulaks and in the mass arrests of the 1930s) were the victims not of the Germans but of the Judeo-Bolsheviks and their NKVD divisions, divisions whose function was internal control, to deal with dissent, revolt, retreat and collaboration. There were 15 such divisions in existence in 1939. There were more than 50 by 1945. Their enemy was their own population, and they laid them waste.

            It is illegal in Russia today to talk about this.

            • MM says:

              You are in principle right but we can not continue to kill other people because them once killed our people.
              The killing in the Donbass was actually happening today.

          • Fast Eddy says:

            But where are all the iphone videos??? Where are all the war photographers?

            Why are dead bodies coming back to life … as if it was a staged ‘war’…

            Why did they reuse photos from a gas explosion from 2018 and claim the injured people were war casualties?

            And then there’s the fake fighter pilot hero and the video game footage…

            And of course there’s the … why doesn’t Putin just reduce the amount of gas flowing to the EU for a few days — and issue a few conditions that need to be met before throttling back up?

            Nobody has an answer to that question …. seems so easy…. remove all sanctions and stop supporting the nazis… and your gas supply will be normalized…

            Maybe this did not occur to him?

            Of course the problem with this is that it would expose the real problem — that Ukraine is not the cause of 6 buck a gallon diesel and skyrocketing gas prices….

            We NEED this fake war to explain away peak everything

  19. Fast Eddy says:

    1:00:00 mark – governments have many reports regarding the oil and gas situation –Do they know? Yes of course they know. The reports are top secret and not to be discussed (the German report was leaked).

    Of course they know. Of course.

    And they are acting on it – UEP

    https://youtu.be/MskRocubx08?t=3613

  20. Fast Eddy says:

    Is Monkeypox a Scapegoat for Adverse Events? Symptoms Are Similar to Those of the ‘Vaccine’

    Mariazeee: (http://t.me/zeeemedia) “The [monkeypox] illness begins with symptoms of fever, headache, muscle aches, swollen lymph nodes, chills, and exhaustion…. symptoms that really are just the flu…”

    Dr. Peter McCullough: (http://t.me/petermccullough) “Or they could be symptoms after you take a vaccine!”

    @VigilantFox | Rumble (https://rumble.com/v166hfw-is-monkeypox-a-scapegoat-for-adverse-events-symptoms-are-similar-to-those-o.html) | Full Video (https://www.redvoicemedia.com/2022/05/dr-peter-mccullough-john-leake-the-truth-about-monkeypox-who-pandemic-treaty-fear-tactics/)

    Why All the Fearmongering? We’ve Seen a Monkeypox Outbreak Before; You’ve Just Never Heard About It

    The United States had an outbreak in 2003 that was quickly contained without a mass inoculation campaign or fear propaganda. 70 people were infected and treated at home, and that was the end of it. We never heard about it again.

    John Leake: “When [is] the public going to begin to realize we need to adopt a skeptical posture? It’s not that we have to become just the most hard-bit cynics, but just ‘hang on a minute.’ The public, I think, needs to accept that they are under constant siege by propaganda.”

    @VigilantFox | Rumble (https://rumble.com/v166ykn-why-all-the-fearmongering-weve-seen-a-monkeypox-outbreak-before-youve-just-.html) | Full Video (https://www.redvoicemedia.com/2022/05/dr-peter-mccullough-john-leake-the-truth-about-monkeypox-who-pandemic-treaty-fear-tactics/)

    Monkeypox, Hepatitis: How Is This Happening? Dr. McCullough Wants to Know: Did They Take the Vaccine?

    “And that’s the setup [COVID shot or infection] for a relatively innocuous adenovirus 41 to cause hepatitis. Now bring in monkey pox. Is it conceivable that mass vaccination now is allowing outbreaks of other contagious viral illnesses? I think it is. Obviously, for each case, we need to know: did they take one of the COVID-19 products?”

    @VigilantFox | Rumble (https://rumble.com/v166qks-monkeypox-hepatitis-how-is-this-happening-dr.-mccullough-wants-to-know-did-.html) | Full Video (https://www.redvoicemedia.com/2022/05/dr-peter-mccullough-john-leake-the-truth-about-monkeypox-who-pandemic-treaty-fear-tactics/)

    Monkeypox Ain’t Cutting It: The Perpetrators Overplayed Their Hand and Now They Have a Problem

    Dr. Reiner Fuellmich: “We’re really, really close, in my view, to a tipping point…. you can see their desperation in the fact that they’re trying to play the same story over again! Monkeypox is nothing but Corona 2.0, and that just shows you that they’re hard-pressed to come up with something that’ll keep people in panic mode. Therefore, I think they’re going to need that other narrative to kick in very quickly…”

    Video via t.me/childcovidvaccineinjuriesuk

    @VigilantFox | Rumble (https://rumble.com/v168ed3-monkeypox-aint-cutting-it-the-perpetrators-overplayed-their-hand-and-now-th.html) | Full Video (https://www.redvoicemedia.com/video/2022/05/the-globalists-go-into-panic-mode-after-overplaying-their-hand-dr-reiner-fuellmich-joins-alex-jones-to-discuss-the-tipping-point-video-interview/)

  21. Fast Eddy says:

    THE HEART IS A MYSTERIOUS MIRACLE…

    THE HEART IS NOT A PUMP ~

    Many of us live under the medical myth that the heart is a pump, an idea borne of an industrialised culture that views the body as a machine.

    The heart however is so much more beautiful and fascinating than we ever could have imagined!

    “Modern analysis of the heart has shown that in spite of the fact that the most powerful ventricle of the heart can shoot water six feet into the air, the amount of pressure actually needed to force the blood through the entire length of the body’s blood vessels would have to be able to lift a one hundred pound weight one mile high” – Stephen Buhner

    So how does the blood move around the labyrinth-like vessels of our body?

    It moves of its own accord.

    You see, blood flow is not a simple stream like we once thought.
    It is in fact composed of two streams, spiralling around each other much like the image of a DNA double helix, at the centre of which is a vacuum.

    “Blood flow through living vessels is much more like a tornado than anything else: Such a vacuum is necessary for producing a vortex” – Stephen Buhner

    How cool is that?

    This spiral dance is not only found in the bloodstream, but also in the blood cell itself!

    Blood cell’s in fact spin on their own individual axes of rotation. They are smaller spinning cells in a larger spinning vortex.
    If your mind is not blown yet, let’s go back to the heart.

    The heart itself has recently been discovered not to be a mass of muscle, but rather a ‘helicoidal myocardial band’ that has spiralled in upon itself, creating its unique shape and its separate chambers.
    This is called the Helical Heart, and you can see doctors unravel it by searching ‘Helical Heart’ on Youtube.

    Pair this with discoveries that the heart functions as an endocrine gland, has its own nervous system that makes and releases its own neurotransmitters, and emits an electromagnetic field that is far stronger than the brain’s, and we begin to move from the idea that the heart is simply a mechanical pump.

    It is a spiralling organ of perception.
    If that’s not beautiful, we don’t know what is!

    ~Nimbin Apothecary
    https://m.facebook.com/NimbinApothecary/
    art: Gabriel Keleman
    Evidence-Based Research:
    https://pubmed.ncbi.nlm.nih.gov/16373590/
    https://pubmed.ncbi.nlm.nih.gov/11807730/
    https://pubmed.ncbi.nlm.nih.gov/24209915/
    https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7712215/
    Watch them un-ravel the Heart here:
    https://www.youtube.com/watch?v=MbOyozg_GTs

    https://www.facebook.com/sacred.dreams/posts/2409473799205021

    • Bobby says:

      Excellent. New perspectives are a gifts. The heart is an endocrine, mind modulating system that works like an impellor screw field generator. Blood itself is magnetic too and has properties that create natural vortices. More like this please, This was simulating stuff. bravo 🎉

  22. Fast Eddy says:

    Here we have it … the EU economy would have collapsed without a massive run up in ECB debt just as Covid kicked off… https://t.me/DowdEdward/468

    Covid is cover to all the CBs to fire one massive final blast of stimulus into BAU to fend off the collapse that was inbound in late 2019.

  23. Fast Eddy says:

    Despite the current scare, monkeypox symptoms for most individuals who have been infected are mild, particularly in countries with adequate health systems.

    However, they also resemble known adverse effects of the COVID-19 vaccines and symptoms of ailments such as shingles.

    https://childrenshealthdefense.org/defender/monkeypox-origins-risk-vaccine-makers-profits/

    Monkeys will get the blame instead of the injections. Boycott the monkeys

  24. Michael Le Merchant says:

    China’s Economic Recovery Faces New Hurdle in Rising Power Costs

    (Bloomberg) — Two of China’s biggest provinces are raising power rates for factories amid increased environmental scrutiny and higher fuel costs, adding another obstacle to hitting economic growth targets.

    Jiangsu, the country’s second-biggest provincial economy, has increased tariffs for nearly 30 large factories either because they missed energy efficiency targets or are using outdated equipment. Its neighbor to the south, Zhejiang, is seeking feedback on a proposal to boost rates for more than 600 factories to cover higher natural gas costs.

    The moves come after global coal and gas prices soared following Russia’s invasion of Ukraine, and underscore the government’s focus on reducing emissions and shifting its economy away from the large polluting industries of the past to more efficient high-tech sectors. But higher power prices will make it even harder for Beijing to meet its annual GDP growth target of 5.5%, which was already looking out of reach given the ongoing Covid Zero virus restrictions.

    China’s economic miracle of the past four decades rested partly on cheap and abundant coal power. But since late last year, in an effort to reduce air pollution and meet climate goals, local officials have been allowed to raise electricity tariffs for industrial users, including an unlimited price ceiling for the biggest polluters.
    https://www.bnnbloomberg.ca/china-s-economic-recovery-faces-new-hurdle-in-rising-power-costs-1.1769717

  25. Michael Le Merchant says:

    Pfizer CEO Albert Bourla explains to the WEF there’s a surplus of 7,000,000,000 doses of his COVID vaccine sitting in warehouses because there aren’t enough “educated populations that believe the vaccines are doing well..”
    https://twitter.com/loffredojeremy/status/1529706393971920896

  26. Michael Le Merchant says:

    All retailers are getting slaughtered by inflation

    Gap shares fall 13% after retailer slashes profit guidance for the year

    Gap dramatically slashed its profit outlook for the year as a steep decline in Old Navy sales weighed on results for the fiscal first quarter.

    The lower-income consumer, which is Old Navy’s target customer, is starting to feel pinched by inflation, Gap Chief Executive Officer Sonia Syngal told CNBC.

    “We’re dealing with really volatile consumer signals — whether it was last year in Covid, or this year’s post-Covid behaviors,” said Syngal.
    https://www.cnbc.com/2022/05/26/gap-gps-reports-q1-2022-earnings.html

  27. Michael Le Merchant says:

    Germany – Consumer sentiment

    Lowest since GFC…How do you deal with higher costs with lower real wages
    https://pbs.twimg.com/media/FTtlkAXXsAArzX6?format=jpg&name=900×900

  28. Michael Le Merchant says:

    Posthaste: Stop hiking interest rates! Canadians want Bank of Canada to press pause amid deep financial worries

    A large number of Canadians want the Bank of Canada to press pause on additional interest rate increases as they fret about their finances, a new poll suggests.

    Close to half of Canadians want the central bank to keep interest rates at one per cent and monitor how it’s affecting inflation before making any more moves, according to a survey conducted by the Angus Reid Institute. Only 27 per cent said the bank should hike more aggressively to dampen inflation, and another 13 per cent said rates should go lower to protect the housing and stock markets from spiralling.

    Meanwhile, Canadians have never been so concerned about their finances, the poll said. Just over one quarter expect to be worse off by this time next year — a seven-point increase over last year, and a 13-year record, Angus Reid said. Their wallets have also taken a hit in the past 12 months. Thirty-six per cent said they are in worse financial straits compared to last year, the highest since 2010.

    “(Canadians are) cutting back on discretionary expenditures, which of course, leads to an economy and business environment that grows more sluggish,” said Shachi Kurl, president of Angus Reid, in an interview with BNN Bloomberg on Tuesday.

    Fears about the housing market are adding to financial worries as well, especially as so many people have their wealth tied up in their homes. Rising interest rates have begun cooling the housing market, and the benchmark price of a home fell 6.3 per cent in April from March to $746,000, according to data from the Canadian Real Estate Association. That’s making people want to keep interest rates as is, or even lower them.

    “If you’re in a home, if you’re carrying a mortgage, you’re worried abut the resale cost of the overall value of that home over the short and long term,” Kurl said. “All of that (is) leading to a place where we are seeing 45 per cent of Canadians saying, ‘Look, let’s have the Bank of Canada wait and see a bit (and) not be too exuberant about another interest rate hike.’”
    https://financialpost.com/executive/executive-summary/posthaste-stop-hiking-interest-rates-canadians-want-bank-of-canada-to-press-pause-amid-deep-financial-worries

  29. Fast Eddy says:

    https://markoshinskie8de.substack.com/p/protesting-fauci-at-princeton

    I asked those who heard the speech and mocked Fauci when we met by the campus entrance if they had booed him. They said they didn’t. When I asked why, they said they didn’t want to upset other people; as if, after having seen the world opportunistically, permanently damaged by 27 months of Faucism, booing would have been indelicate. People tolerated profound mistreatment in order to avoid conflict.

    After all this time, some fools still buy Coronamania. Some ceremony-goers walked past wearing masks. A few cast disapproving glances that they mistakenly thought would bother us protesters. Some passersby also muttered unintelligibly. A fellow protester noted, “They always say shit as they’re walking away.”

    We protesters were kept too far from the speech to hear it. So I read the text on-line. First, though others have lambasted Fauci’s AIDs work, Fauci portrayed himself as a heroic public servant during that time. Second, he asserted that systemic racism caused Covid to kill more minorities. Finally, he warned that Covid showed us to avoid purveyors of “misinformation.”

    • People at Princeton expect that everything Fauci says will be 100% true and wonderful. This is why people in charge asked him to come and speak.

    • Jon F says:

      Remember the sequence from Fight Club where Tyler Durden instructs the club members to go out and start a fight with a stranger? It turned out to be quite challenging because people would put up with a lot in order to avoid confrontation.

      Remember the priest walking by the car wash? He had to be doused with cold water multiple days before he finally snapped and confronted the car wash attendant.

  30. Michael Le Merchant says:

    China – Traffic is collapsing again in Shanghai
    https://pbs.twimg.com/media/FTtuccQXwAQ1c88?format=jpg&name=900×900

  31. Fast Eddy says:

    As this unprecedented global spike in “sudden deaths” grows ever harder to conceal—with Ray Liotta, and TWO famous British drummers, Andy “Fletch” Fletcher of Depeche Mode, and Alan White of Yes, all having their untimely “unexpected deaths” reported just today—“our free press” struggles, ever more transparently, to make it seem as if this (real) pandemic isn’t happening

    https://markcrispinmiller.substack.com/p/stop-the-presses-cary-grant-died/comments?s=r

    • Jon F says:

      Any old rockers here who read the likes of Kerrang! back in the 80s and 90s? Malcolm Dome, the rock/metal journalist died suddenly last October aged 66…no cause of death given…

  32. Fast Eddy says:

    Beyond Mathematical Probability – 0 chance events, everywhere
    Fuel and food shortages incoming.

    https://hiddencomplexity.substack.com/p/beyond-mathematical-probability-0

    FE banned for posting that humans need to be exterminated because of how we treat other animals and how we are paving over the planet. Go figure….

  33. Fast Eddy says:

    Coronavirus FAQ: I took Paxlovid. I felt better. Then symptoms rebounded. What’s up?

    https://palexander.substack.com/p/cdc-now-admit-officially-problems/comments?s=r

    Reminds me of what happens if you take a partial course of antibiotics…..

    • This seems to be the preprint that Alexander is referring to:

      https://www.researchsquare.com/article/rs-1588371/v3

      Rapid Relapse of Symptomatic Omicron SARS-CoV-2 Infection Following Early Suppression with Nirmatrelvir/Ritonavir

      Abstract

      We describe relapse of COVID-19 symptoms and SARS-CoV-2 viral load following nirmatrelvir/ritonavir (NM/R) in 10 non-immunocompromised patients aged 31 to 71-years-old. Most patients improved rapidly after treatment with NM/R and had negative antigen or PCR tests prior to relapse on Days 9-12 of their illness. Relapse symptoms were described most frequently as cold symptoms, though some patients experiencing a recurrence of fatigue and headache. All relapses resolved without additional antiviral treatment. Viral load during relapse was comparable to levels during initial infection. Sequencing in three patients indicated that relapse was not due to a treatment-emergent mutation or infection with a different viral strain. One symptomatic and one presymptomatic patient transmitted SARS-CoV-2 to family members during relapse. The presence of high viral load and the occurrence of two transmission events suggest that patients with relapse should isolate until antigen testing is negative.

      So the people weren’t very sick when they relapsed. They got well without any additional treatment. The only problem was that they passed the illness on to others.

  34. Fast Eddy says:

    Thanks to everyone who contributed with a recommendation for the red-pill reading list. These are books that somehow changed how you think about things or convinced somebody else that all is not what it seems.

    I have not read many of these books (although I will start working my way through them) so I am not endorsing any of them. This is a reading list by the readers, for the readers.

    I know the list isn’t in alphabetical order, I’ve left it how nature intended it.

    As there were so many recommendations, I’ve had to split the list over a number of posts. I’ve hyperlinked each book if you want to buy it or look at it but if you can buy away from Amazon, all the better!

    Enjoy!

    https://nakedemperor.substack.com/p/the-ultimate-red-pill-reading-list

  35. Fast Eddy says:

    CDC now admit officially problems with PAXLOVID; “COVID-19 rebound has been reported to occur between 2 and 8 days after initial recovery and is characterized by a recurrence of COVID-19 symptoms”

    https://palexander.substack.com/p/cdc-now-admit-officially-problems

  36. Herbie Ficklestein says:

    The researchers did not predict if or when these fossil fuel “stranded assets” would cause a financial crash, but said the size of the number was worrying. The US and UK are by far the countries with the biggest potential stranded assets in their financial sectors.

    Overall, the study calculated that individuals own 54% of the $1.4tn oil and gas assets at risk – $756bn. Three-quarters of these people are in the 38 developed countries in the Organisation for Economic Co-operation and Development (OECD) group. Governments and corporate creditors carry the balance.

    But the proportion is much higher in the US and UK, where individuals own 86% and 75% of the potentially stranded assets respectively. In contrast, 80% of those assets in China are owned by the governments

    By tracking many thousands of projects through 1.8m companies to their ultimate owners, the team found most of the losses would be borne by individual people through their pensions, investment funds and share holdings

    ….The analysis also found that financial institutions have $681bn of these potentially worthless assets on their balance sheets, more than the estimated $250-500bn of mispriced sub-prime housing assets that triggered the 2007-08 financial crisis.

    The researchers did not predict if or when these fossil fuel “stranded assets” would cause a financial crash, but said the size of the number was worrying. The US and UK are by far the countries with the biggest potential stranded assets in their financial sectors.

    Overall, the study calculated that individuals own 54% of the $1.4tn oil and gas assets at risk – $756bn. Three-quarters of these people are in the 38 developed countries in the Organisation for Economic Co-operation and Development (OECD) group. Governments and corporate creditors carry the balance.

    But the proportion is much higher in the US and UK, where individuals own 86% and 75% of the potentially stranded assets respectively. In contrast, 80% of those assets in China are owned by the government

    https://www.google.com/amp/s/amp.theguardian.com/environment/2022/may/26/people-in-us-and-uk-face-huge-financial-hit-if-fossil-fuels-lose-value-study-shows

    • Without fossil fuels, everything we own is a stranded asset. Our jobs are gone. Banks have no way of collecting money on any of the loans they make. The problem is far more extreme than the study suggests.

      It far dwarfs any climate change impacts, too.

      • Herbie Ficklestein says:

        (Reuters) – The extended drought in California could lead to hydropower producing 8% of California’s electricity generation compared with 15% under normal precipitation conditions, the U.S. Energy Information Administration (EIA) said on Thursday.

        In its supplemental outlook, the EIA expects that the dip in hydropower generation would lead to an 8% increase in electricity generation from natural gas, an increase in energy-related carbon dioxide (CO2) emissions by 6%, and a roughly 5% increase in wholesale electricity prices throughout the West, it said in a press release.

        Earlier this month, California energy officials issued a sober forecast for the state’s electrical grid, saying it lacks sufficient capacity to keep the lights on this summer and beyond if heatwaves, wildfires or other extreme events take their toll.
        California Governor Gavin Newsom on Monday warned he would order strict cutbacks on water usage statewide if businesses and residents did not slash their own consumption in the face of a severe drought.

        In April, the California Department of Water Resources (CDWR) said statewide snowpack was just 38% of the average for this time of year, following three straight months of record dry conditions.

        The EIA analyzed six of California’s hydropower facilities, representing 22% of the state’s hydropower capacity. The entire report is available on their website.

        (Reporting by Seher Dareen in Bengaluru; Editing by Marguerita Choy)

  37. Fast Eddy says:

    100% Effective in preventing 12-15 year olds from contracting covid hahahaha

    https://www.bitchute.com/video/Cs6ucLPL1AN4/

    Calm down Dell… it’s just UEP.

    • ivanislav says:

      One of the better / more comprehensible videos on this subject matter.

      That said, Eddy, you can’t possibly be a human because no one is so gung-ho about this stuff as to post 24/7 on it. Can you please raise an exception / segfault on your creator, to give us a break, even for a little while?

      • Fast Eddy says:

        Fast Eddy is not a human. Trust me … it’s quite tiring being his Psaki…. I only post half of what HE asks of me.

    • Dr. Mike Yeadon starts out by saying that he doesn’t want people to be alarmed by this virus. It is just a little worse than the seasonal flu.

      Dr. Yeadon says he knew that something was very wrong, when the initial three-week lock down was extended. He knew that the lockdown approach couldn’t work; besides, the number of cases had already peaked.

    • Fast Eddy says:

      Ah yes – 2 x -78 = 100…

      On paper with this new math — we appear to have a Saviour!

      • drb753 says:

        Eddy, please, keep at your area of specialization, which is aggrandizing failed attempts at population reduction. Better math would be 0.22X8=1.76, which is theoretically interesting (the power production scales like the cube of the density).

        Of course the 0.22 is the output thermal power. Efficiency of thermal to electrical conversion is anywhere from 0.33 to 0.7, and this 0.22 was obtained only for a short time, and that 0.22 does not include that much energy was spent in building the ITER and allowing virtually all staff to drive a Mercedes for decades. Plus, twice the density would require twice the magnetic fields, and they are maxxed out already now.

        There is more. Certain devices in my field are also plasma limited. The limit for them also was derived in the 1980s. New devices since have been able to run at 50% to 67% of that limit. In short, the limit stayed theoretical and you can get 50% or 67% depending on how good your magnetic lattice is. Needless to say the ITER lattice can not be made very good because you need a large injection line for example. ITER has tried for decades to improve the density, with no success, and that is all that really matters. I see that the article says we are 29 years away. I disagree. We are 30 years away, just like in the 1960s.

        • JesseJames says:

          The article clearly states that the ITER is being built. It is not operating yet. It also foolishly mentions future follow ons after ITER. There will be no follow on after ITER. The article also notes that the fusion scientist propagating the nonsense about achieved improvements in fusion, has been working on fusion for 30 yrs. He clearly has an agenda to continue bilking governments out of more research money so he can publish more glowing papers and retire with a nice pension.

          • drb753 says:

            Yes, but tokamak type machines have been built in numbers already. so sorry for the misrepresentation, but the concept is correct. in practice even the greenwald limit can not be attained.

          • drb753 says:

            I also did a double take over this. I know someone who took a job there in 1990, and must be now close to retirement. I just assumed they must be done building by now.

            They started in 1988, and they have not finished yet. Yes, I may have been lazy reading the article, but never I would have imagined such inefficiency.

            • Foolish Fitz says:

              This might interest you drb

              https://dennisriches.wordpress.com/2021/07/06/the-experimental-iter-nuclear-fusion-reactor-a-titanic-and-energy-intensive-project/

              If it does, you’ll be happy to know it’s part 1 of 3.

            • Nope.avi says:

              So much of science seems to be about sales.
              There’s a concrete reason why career consultants always tell candidates to work on their “soft skills”, on how to “make friends and influence people.”

              This is science is in action.
              https://www.stuff.co.nz/world/africa/98581694/chasing-a-killer-scientists-pursue-deadly-monkeypox-virus-in-africa

              Science also evolves. Whether a disease is deadly or not depends on whether there is a vaccine available .

              https://twitter.com/LindsayBbent/status/1526288139941203968

            • I am afraid you are right:

              “Whether a disease is deadly or not depends on whether there is a vaccine available.”

              I suspect that freedom from liability if something goes wrong is important as well. If governments mandate the vaccine, it is almost a certain money-maker.

            • low score again last night eddy?

              it always shows in your comment torrent of se xual innuendo next day–fun to watch the (blank) pages of your imaginary se xlife revealed for all to see. I think about 20 OFW comments on OFW this morning—15 from FE.

              nothing to say—so say something you know nothing about. Embarrassing really.

              I can give you some tips to improve things if you like. (yes–even at my age)

              Unfortunately it would take a superhuman effort to overcome a severe problem that afflicts you.

              To be ‘any good’ in that area—you must be prepared to ‘forget yourself’. That, as your past record shows, is virtually impossible. Self obsession and attention seeking are the very worst attributes a man can be afflicted with.
              Ever wondered why Trump used be awake tweeting at 3am?

              He had a low (or non existent) score too.

              And didn’t it show?

              Constant ranting at everyone who disagreed with him. Spouting nonsense the rest of the time. Everyone was conspiring/plotting against him. See the similarities?

            • Fast Eddy says:

              It was a rhetorical question norm…

              You made such a big effort… maybe you can now respond to the Real Questions

    • Not for a very long time, I am afraid.

    • The Kumbaya Reactor says:

      “place these answers in the context of ITER’s mission.” Its energy consumption is to be weighed against “the enormous potential of fusion to eliminate more than a century of geopolitical tensions and conflicts related to access to fossil resources.”

      https://dennisriches.wordpress.com/2021/07/06/the-experimental-iter-nuclear-fusion-reactor-a-titanic-and-energy-intensive-project/

      The ambition these guys have.
      When has any source of energy reduced geopolitical tensions? The nation that cannot be named is terrified of its neighbors building nuclear power plants because it thinks nuclear material will be used to make weapons to attack it.

      I hope they are better at developing scientific hypotheses than social/political ones.

  38. Mirror on the wall says:

    > Growth in UK business activity falls to 15-month low, fuelling recession risk

    Growth in UK manufacturing and services activity has slumped much more than expected and to the lowest rate since January 2021, when the country was in a full lockdown, as the cost of living crisis hit demand.

    Chris Williamson, chief business economist at S&P Global Market Intelligence, said the survey results “point to the economy almost grinding to a halt as inflationary pressure rises to unprecedented levels”.

    Williamson added that forward-looking indicators were “hinting that worse is to come” and noted that businesses cited an increasingly cautious mood among households and business customers, linked to the cost of living crisis, Brexit, rising interest rates, China’s lockdowns and the war in Ukraine.

    The slump in the PMI index “is a clear sign that the economy looks set to worsen after contracting by 0.1 per cent in March and increases the chances of a bigger fall in the second quarter and of a recession this year”, said Thomas Pugh, economist at RSM UK.

    He added that the jump in the input prices index to a new record suggested that inflation had further to rise after hitting a 40-year high of 9 per cent in April. Survey respondents overwhelmingly cited higher wage bills, energy costs and fuel prices among the reasons for operating expenses rising at the fastest pace since this index began in January 1998.

    Concerns about squeezed margins and weaker order books resulted in a considerable drop in business expectations for the year ahead.

    https://www.ft.com/content/f321a78e-97e1-4f7b-aaed-c11f18c2e9b5

  39. houtskool says:

    Good morning Vietnam.

  40. Wet My Beak says:

    Donkey escapes from paddock and is found miles away at once proud university:

    https://www.stuff.co.nz/national/politics/128774793/jacinda-ardern-uses-harvard-speech-to-lash-keyboard-warriors-attack-disinformation

    • Fast Eddy says:

      In my mind, when I read something especially horrific on my feed, I imagine it’s written by a lone person, unacquainted with personal hygiene practices, dressed in a poorly fitted superhero costume – one that is baggy in all the wrong places.

      “Keyboard warrior or not though, it’s still something that has been written by a human, and it’s something that has been read by one too.”

      hahahaha… so she did read my comments on her FB page (using a fake FB account) calling her a monster for causing the vax damage…. oh and then there was the stuff about Clarke and the nanny that I posted… and then multiple posts about how dreadful she looked … that she must be tired and stress … (no woman likes to read that!). A few about her resembling a donkey…

      Then there quite a number of Where’s Clarke and When’s the Wedding going to be…. very obviously Clarke is in the dog house — what with impregnating the nanny and being caught selling dope to the who’s who in Auckland (a senior cop tells me they’ve got his black book of clients… but nothing is being done cuz … )

      All I can see is that I am very pleased that she reads her FB… she probably spends hours on there reading it… being a narcissistic ex-DJ who has no clue what she is doing … she’s be looking for positive reinforcement on FB…. I was eventually banned…

      • Wet My Beak says:

        I hope she doesn’t infect America with donkeypox.

      • Kowalainen says:

        “I imagine it’s written by a lone person, unacquainted with personal hygiene practices, dressed in a poorly fitted superhero costume – one that is baggy in all the wrong places.”

        More important: How did the cape mismatch the spandex?
        🤣👍👍

      • Nope.avi says:

        The fact that one of the Young Global Leaders gave a speech where she defended her policies says all that needs to be said about prestigious schools.

        It seems like there is greater social cohesion amongst the wealthy than among the lower classes. They make it difficult for a leader to rise to power without sharing the values and habits of other leaders.

  41. https://www.scmp.com/economy/china-economy/article/3179234/china-gdp-economic-growth-likely-fall-short-premier-admits

    China’s GDP growth may ‘fall far short’, premier admits as concerns mount

    Li Keqiang instructs more than 100,000 officials from across China to use whatever resources they have to stabilise the economy as zero-Covid policy remains in effect.

    But analysts say monetary policy still hasn’t changed much, as Li ‘may have just laid the groundwork for abandoning this year’s GDP growth target’ of around 5.5 per cent

    —-

    This is pretty much what readers on OFW are expecting, I am sure. I don’t know what this means for the tenure of President Xi. His health is supposedly not very good, either.

    • houtskool says:

      That’s what happens if your wet markets are under water. Joke..

      With a billion citizens without social security you have a society on steroids. On the way up, and, on the way down.

      To me, personally, look what they did to pigs. They deserve what’s coming.

      h/t FE

    • Fred says:

      On other hand, if you want to mess up the US’ supply chains by not supplying critical goods without overtly declaring hostilities an extended lockdown is a great way of achieving that.

  42. Student says:

    Ray Liotta, the legendary actor known for his career-defining performance in crime classic “Goodfellas,” DIED IN HIS SLEEP.

    https://nypost.com/2022/05/26/goodfellas-actor-ray-liotta-dead-at-67/

  43. Too much consumption by the unnecessariats and those who don’t add too much to society.

    I have read memoirs of those who led the Meiji restoration in 1860s Japan.

    Japan had obtained a ZPG sometime around 1710. Infanticide and abortion were rampant and often encouraged, and only the first sons , samurai or not, could marry and reproduce. (Very occasionally, if a younger sibling showed some promise, he was adopted away into a childless family to continue their line.)

    These samurais who led the Restoration talked about a very simple tables. Their bellies were always half full even though they would belong to what we would call middle class.

    In Satsuma, one of the centers for the Restoration, everyone, high and low, ate the sweet potato, called Satsuma-imo (Satsuma Potato). That was what sustained its pop.

    Any protein which had been consumed came from the fish. Whales were the biggest ‘fish’ they caught, which is why they still eat whalemeat. Sometimes mountain whales (i.e. wild animals) were caught and eaten with a bribe to the local policeman who often shared a piece. Other than that, all fish. Not a very good situation if one lived in the inlands to obtain protein, or resort to beans.

    Fat mostly came from sesame.

    That was the unenviable life for Middle class Japanese in the 1860s where the humankind is returning if today’s winners do not achieve singularity.

    • Many civilizations have tried to hold off collapse by holding population down.

      Holding down the births of girl babies is one approach, since only they can be mothers.

      • but I think that sort of drastic action has only applied to very localised regions, where people are subservient to despotic rule, unencumbered by concerns about public reaction.

        we are now faced with the problem on a world scale.

        which i think is entirely different

      • Fast Eddy says:

        Aztecs hacked the hearts out of many because they believed if the population exceeded a certain number the next Apocalypse would arrive … they were right.

      • MM says:

        A couple should have 2 offspring for replacement.
        That siuts the biological impetus for children.
        More children emerge when reason does not match passion.
        Where people disconnect from passion /emotions it seems obvious that simply killing is used.

    • Mirror on the wall says:

      That is not how capitalism works. Almost a million legally migrated to UK last year but it still has a major problem with job vacancies. So, they will just have to get a million more this year LOL. I am fairly sure that you like capitalism LOL.

      > https://www.ft.com/content/a91ed719-a95a-45ee-aa5a-db8ecb550561

      …. Andrew Bailey this week blamed the shrinking labour force for the persistence of price and wage increases as well as the difficulties he, as Bank of England governor, is having in bringing inflation back down. Fewer workers tightens the labour market. It also encourages companies to raise prices without fear of bankruptcy and to concede to inevitable and justified pay demands.

  44. Mirror on the wall says:

    Russian patience seems to be paying off, and their forces are now ‘rolling over’ the Donbass. It will be interesting to see what they do next. My guess, and it is only my guess, is that they will take all of the south and link up with their enclave in Moldova. But they are still working in the Donbass for now.

    > Sitrep Operation Z: + consequences = petty Tabaquis howling

    After the Russian forces took POPASNA, the pace increased. There are still battles, but the Russians are now rolling over everything else in the Donbas. The Ukrainians are being annihilated, more and more soldiers are refusing to fight, reports of mass surrenders pour in, and the Russian strategy of cauldrons and partial cauldrons is proving incredibly effective. It is a bloody war in that area exacerbated by the Ukrainian leaders because orders for a sensible retreat are not forthcoming.

    Two videos today – both quite detailed:

    This first video from Military Summary on Rumble, describes the logjam against sensible retreat…..

    https://thesaker.is/sitrep-operation-z-consequences-petty-tabaquis-howling/

    • Thanks!

    • Fred says:

      It’s eerily like the last days of the Third Reich.

      Zelensky is raving in his bunker about no retreat, overriding his Chief of Armed Forces and sending pure cannon fodder to the frontlines.

      You can tell how badly it’s going by the lack of coverage in the MSM. The delusional propaganda they’ve been making up is too far divorced from reality for them to publish it..

      • Fast Eddy says:

        You do know that he is an actor… as are his supporting people… they are all actors. Run by the same billionaire who was paying Hunter Biden. This is all just another charade — a mass psychosis… manufactured by the MSM…

        Think of Z as you might Greta… she was totally manufactured… how is it a 13 yr old re ta r ded child gets to meet with heads of state… titans of industry … scream how dare you at the world during a UN speech …

        All the world… is a stage.. a Matrix

  45. Mirror on the wall says:

    Historically, murder rates today are way lower than they have ever been, even lower than our primate ancestors. And Western Europe has the lowest in the world today. So, we are basically the safest that our primate line has ever been.

    > Difference between the observed and the phylogenetically inferred lethal violence:

    Paleolithic +0%
    Mesolithic +4.6%
    Neolithic +5.4%
    Bronze Age +2.5%
    Iron Age +8.1%
    Medieval Age +7.7%
    Modern Age -37.1%
    Contemporary Age -23.7%

    https://www.nature.com/articles/nature19758.epdf

    Humans have inherited a genetic predisposition to solve problems with violence from our primate ancestors, but the behaviour is massively weakened in modern ‘economically advanced’ societies. The key to less violence lies in economic and social development, and it has taken 10,000 years of economic development to get us to where we are.

    > Pagel believes it is important to emphasise that genetic adaptations could be at play. “Humans emerged from a very long lineage of species – great apes and before them the primates – that all expressed relatively high levels of lethal violence,” he said. “When you immerse an animal in a particular environment, it evolves genetic-based strategies for dealing with that environment. There is good reason to believe this reflects a real genetic or innate tendency to solve problems with violence.”
    …. Pinker told the Guardian the new research is impressive and supports his views that humans have a natural tendency to engage in lethal violence, that rates of such violence were high in prehistoric societies and are higher in tribes and chiefdoms than hunter-gatherer bands, and that such impulses are dampened in modern societies.

    https://www.theguardian.com/science/2016/sep/28/natural-born-killers-humans-predisposed-to-study-suggests

    Of course, I am not suggesting that ‘peace and security’ are the ‘be all’ of human existence. The ‘purpose’ of it is not particularly clear, anyway.

    • Kowalainen says:

      Well; the flimsy veil of fossil fuel happened.
      That masked the worst of primate behaviors.

      Once depletion seriously kicks in we’ll be ripping our faces off instead of tearing a few new ones on mama earth. That will be a worthy statistic. Unless CEP/UEP doesn’t “count” for some reason?

    • When there is enough fossil fuel around, and limits seem far away, there is less need to try to kill competitors for the fossil fuel.

      Early farmers sometimes had problems with population outgrowing resources. They had a need to keep population down to match resource availability.

      Violence is one of the few ways of dealing with unwanted behaviors that doesn’t require the building of jails. In hunter-gatherer societies, it was possible to throw someone out of the group who did not prescribe to the group’s behavior norms. Thus, they could more easily deal with unwanted behavior in a non-violent way than early farmers.

      • Kowalainen says:

        “Thus, they could more easily deal with unwanted behavior in a non-violent way than early farmers.”

        Such as accepting ostracizing from refusing the vax? Not cool? Yes? No?

        Can’t eat the cake and have it at the same time. 😉

        That’s clearly antisocial behavior from the majority unwittingly obeying the collective subconscious conditioning narratives. History is full of civilizations going full antisocial which makes stigmatization something of a virtue. Jews, Saami, blacks, etc…

        And god forbid; stating unthinkable thoughts with regards to primate “tendencies”. That might impede the glorification of HSS as the only sapient and sentient species worthy of heavenly grace on Mother Earth.

        That can easily be traced back to tryhard males, MOARon females and all that obvious jazz which is blatantly obvious psychology for a primate species.

        Well; enough ranting about that and it’s ultimate consequences of resource depletion and unfair advantage leading to overshoot and collapse into another bottleneck. And so it spins in perpetuity.

        Note to “Mother Earth”; It is just not a good idea to strap a large neocortex on a primate. It will just amplify the innate tendencies of the archaic regions.

        “And here we go”
        — The Joker

        🤔

        • Interesting point. Ostracizing non-vaxxers is like throwing hunter-gatherers out of the tribe.

          • Kowalainen says:

            Yep, it’s well worth it however. The efforts make me smile. Sensitive observation, past experience and experiment is key here.

            We’re not dealing with Crème de la crème of humanoid shenanigans, now are we?

            🤣👍👍

          • Student says:

            Talking about that just like a fantasy novel:
            …with many vaxxers suffering adverse events and sudden deaths, some of the remaining living vaxxers in good health could overturn the vaxxers-leaders who deployed the dangerous mandate…

        • Fast Eddy says:

          Come on man — we are the only species who worked out how to shove animals into gulags banking them to later feed 8B — we are the only species who innovated our way to pouring chemicals into the soil (derived from finite resources) killing the soil BUT producing enough food to keep those 8B alive…

          Give credit where credit is due. It takes a lot of IQs to make all of this happen.

          Ain’t we awesome!!!

          If everyone had sub 50 IQs we’d still be living like apes… and there’s no way in hell we’d be driving cars… and our population would be less than 1M…. Let us pat each other on the back as we head into the extinction bin.

          Humans are Awesome!

          • Kowalainen says:

            I don’t mind devolution for HSS since it appears that WtP fantasies (and existential angst) always ends with the same predictable outcome for our primate species.

            It is basically ‘child neglect’ by “mama earth”. Slapping on a big neocortex on a primate require some intense positive/negative feedback loops that seem entirely dysfunctional in most of our brethren.

            As you note, at (most?) times the cruelty is absolutely shocking. But what else to expect from a slave species than a cruel slave mentality? Slaves to fscking every thinkable and unfathomable primate desire on this planet however “natural” or “crafted” doesn’t matter one bit.

            I do believe Tesla and Einstein (and others with 140+ IQ) went vegetarian for that very reason. The “Cainians” (from the biblical story) so to speak. The embodiments of critique apparently must be manhandled for expressing perspective.

            Be a good member of the herd. Yes indeed: Blow through finite resources and try to “impress” the opposite sex with WtP Ultimate Vanity. But hey, why stop there? Then feel worry for your offspring when Depletion Happens from the very same reason that provide your reproductive “success”.

            How dumb isn’t that?

            Not to worry about pesky little details such as sanctimonious hypocrisy. You’ll be taken care of in the afterlife either way. And for the most “successful” a ticket through the “bottleneck”.

            Which is all good since it inevitably will drop the EQ/IQ another few standard deviations until “we” reach IQ 50 with Zero ability of destroying the planet. Wouldn’t you want Donkey Face et. al. to “survive” CEP/UEP if you think about it carefully? How hilarious wouldn’t that be?

            The proverbial “testament” of a dysfunctional species.

            Problem being with smart rear ended primates is that they just don’t give a flying monkey about participating in the “game”. It is just too boring, predictable, and stressful for absolutely nothing. Been there, done that and dealt with the theatrics of the jungian “shadow”.
            🤢🤮

            It is just an endless repetition of the same old primate attachments and projections. Jung and Freud got it down just about right, but failed to draw the necessary conclusions. Or perhaps they did. Just didn’t dare to express it. Because, yeah, scared of losing their vested interests and the cruelty of others.

            I guess we’re just too dumb for that apparently? Drawing some ‘aggro’ seem par de course for naive, oat munching and crank turning embodiments.

            It is what it is.
            Failed species.
            Depleted planet.

            WtP!
            YOLO!
            BREED!
            MOAR!
            GGWP!

            What could possibly go wr…?
            Oh, never mind…

          • Kim says:

            Our greatest extinction-related problems are the result the thinking of those in our societies with iqs over 140.

            • Kowalainen says:

              There’s nothing stopping you from leading the charge (of halfwits) back towards hunter-gathering, now is it?

              Yep, drop that smartphone and internet connection of yours as the initial step towards your total and utter irrelevance.

              As if “sustainability” and the endless meanderings of halfwits beating around the bushes flying flint tipped arrows at squirrels would be something to admire and aspire towards.

              However, Freud and Jung wants you not to worry, I’m quite sure a few dried out squirrel skulls in your necklace will impress the moaronic females in the ragtag group of dullards.

              You see, it is all a matter of projection into the sensitive egotistical fantasies of the female. Yes, you can do this!

              YOLO!
              MOAR!

              🤣👍👍

      • postkey says:

        “19:17 we’re gonna lose four to five million barrels a day of Russian crude and another million barrels a day of kazakh
        19:22 crude within the next two months and it’s just going to be gone so that’s the single largest disruption
        19:29 to oil markets ever and it’s just around the corner . . . “?

        • ivanislav says:

          It’s fine to listen to Peter Zeihan, if you must, but don’t take anything he says at face value. He’s an idiot neocon water-carrier; a talking a head with a terrible track record of predictions.

          As for the “Russian oil going to go offline” – no, absolutely not. The EU is going to keep importing, even if it needs to go through a couple Greek middle-men and be loaded/unloaded between multiple ships before being labeled “non-Russian”. At the same time, China and India have stepped up imports. The only difference from before is that Europe will pay a higher price.

          If you want an example of Zeihan’s recent failed predictions:

          A few weeks ago, he said that the 100-200 new howitzers with smart ammunition were going to give Ukraine a huge military edge and allow them to snipe Russian howitzers and dominate the battlefield. Turns out they need to be towed (non-tracked/non-self-propelled), take a long time to set up and break down (necessary in maneuver warfare), and are basically a nothing-burger.

      • Fast Eddy says:

        Watch what happens when there is no more food…..

    • Fast Eddy says:

      I don’t buy these numbers…

      Two reasons :

      1. I’ve been reading a bit about early humans and from what I can see is many of these scientists have a bias — they want the savage to be noble so badly that they make shit up – for instance in a few accounts where there were lots of smashed up skulls they said – yes this could be an indication of violence but on the other hand it might be that they were killed in other ways and they ended up in the cave — ya like falling off a ladder while painting on the cave ceiling hahahahaahahahahahaha…. there were many more such examples …

      2. I have a mate who did a stint as a peace keeper here… and he said it was nuts… it was very difficult to stop them because there are so many tribes and it’s all very remote — you have to chopper in so before you can get there the brutal violence is well underway or finished https://www.icrc.org/en/Tribal-Violence-Papua-New-Guinea

      If it’s like this now – it was like this then. Probably even worse – cuz there was nobody to try to stop it.

  46. Herbie Ficklestein says:

    Gas prices: U.S. hasn’t built a major refinery ‘in 60 years,’ expert points out
    Ines Ferré·Markets Reporter
    Wed, May 25, 2022, 1:54 PM
    Gas for cars is priced as though crude oil is much higher than $110 per barrel, says one energy expert.

    “The prices for gasoline and diesel — even when you’re looking at $110 crude, is just sky-high. Basically it’s pricing as though crude oil is $200 a barrel,” Daniel Dicker, founder of The Energy Word, told Yahoo Finance.

    A big component of the energy puzzle has to do with refineries, which operate on margins. The refining business, says Dicker, is far behind and “they really can’t catch up at this moment.”

    “We haven’t had a major refinery build in this country in 60 years,” he said. “In bad times, refineries are just terrible. I can recall Valero (VLO) trading in the teens. Now it’s trading at $125 a share.”

    “It’s not the kind of business that drives new investment in it, so the old investment is there trying to make up in a moment when there’s absolutely zero supply and they’re running as fast they can.”

    JPMorgan analysts predict the national average of gasoline could hit $6 per gallon — and go even higher by August.

    Oil was trading higher on Wednesday as U.S. gasoline stockpiles fell ahead of the summer driving season.

    On Wednesday, West Texas Intermediate (CL=F) futures inched above $110 per barrel. Brent (BZ=F) crude was also trading slightly higher, above $113 per barrel.

    Why???? Didn’t answer the question…because the Continental United States has been explored and drilled like a piece of Swiss Cheese…why build a new refinery if there ain’t no new oil ???
    Per TBoone Pickens

    • I remember hearing earlier that the reason that refiners didn’t build more refineries was because the permitting process was very onerous. I suppose that could be part of the reason.

      Another issue is competition from overseas refineries. Countries with low-cost labor, such as China and India can refine oil more cheaply.

      A third issue, which I think is key, is that oil producers could see the handwriting on the wall. There basically is not enough crude oil available to justify building a new refinery, in addition to existing refineries. To some extent, older refineries have had additions added.

      A related issue is the price of crude oil. My understanding is that some refineries have closed–East Coast, especially, where there has been an inadequate supply of low-priced crude oil. With oils from Europe/Africa selling at higher prices than oil from the Americas, it was hard to refine oil competitively from Europe/Africa.

      • Herbie Ficklestien says:

        That’s reassuring… Once the global trade system exchange breaks, the United States will have a bunch of empty holes in the ground that are toxic and along with it decaying old infrastructure that we can pick apart like the citizen survivors in the City of Ancient Rome in the Middle Ages.
        Gail thank you for your additional imput

      • Fast Eddy says:

        BINGO

        A third issue, which I think is key, is that oil producers could see the handwriting on the wall. There basically is not enough crude oil available to justify building a new refinery, in addition to existing refineries.

    • Minority of One says:

      “… because the Continental United States has been explored and drilled like a piece of Swiss Cheese”

      Same with the North Sea, and in all likelihood, most other places. For North Sea ,Only small, deep, polluted (with H2S or heavy metals), high temp/high pressure, ‘heavy’, in other words, very costly, fields left.

    • Fred says:

      Haven’t built a nuclear power station in 40+ years either.

      Notwithstanding the regulatory quagmire, the skilled people have retired or found other things to do and the manufacturing capability has withered away, or been offshored.

  47. Herbie Ficklestein says:

    According to the Polk County arrest report, Mr Llerena and Mr Garcia-Martinez were pumping fuel into a Ford pickup truck. Mr Garcia-Martinez was accessing the inside of a fuel pump with “a homemade device in his hand (used to manipulate a fuel pulsar) during the unauthorized access),” the report said.

    A fuel pulsar is used to control the pump’s electronic display, and when manipulated causes the price display to be changed, the report said.

    Ned Bowman, the president of the Florida Petroleum Marketers Association, said the homemade hack is a sophisticated operation.

    “They go in and they change the pulsator. The pulsator is the device that is inside the gas pump that regulates the flow of the fuel,” Bowman told Kron4.

    “So they’re able to change the price of the fuel down to a nickel or a penny to the gallon and fill the back of their trucks up — their bladders or spare tanks — with fuel that’s basically free.”

    Aren’t humans clever?

    From the Independent

  48. Harry McGibbs says:

    “The South Africa Reserve Bank on Wednesday said that the rising cost of living could lead to episodes of social unrest as food and fuel prices, as well as the level of household debt remain high.

    “In its latest Financial Stability Review, the Reserve Bank said rising interest rates would lead to higher debt servicing costs and add pressure to household balance sheets…”

    https://www.news24.com/citypress/business/reserve-bank-warns-of-social-unrest-as-costs-go-through-the-roof-20220525

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