ralfy wrote:"Long emergency"
That was a good book, penned in a good era too. An era of openness and honesty. Unfortunately the revelations of that era lead to huge coverups like the shale oil revolution, the EV revolution and the windpower/solar power revolution. All of which have been shown to be abject failures as far as solving our basic problem. Dwindling energy supplies. The coverup worked well too, no one has peakoil on their radar now do they. It's been 'debunked'.
One aspect of this is that the myriad of hopeful souls who bought into these White Elephants have now vanished off the forums, unable to cope with reality probably, or they remained, but can't let the grifts go. They have to double down as they try and prove these technologies still matter.
The future? These technologies became a tomb for trillions in retirement savings. The Elon Musks of the world have sold half their shares into the Wallstreet pension machine and are set for life. Main street Bob and Alice though are still all-in, walking up the Aisles of the supermarket past all the stuff they can't afford now. They were relying on the productivity of these companies for retirement, those on the inside as a quick money grab.
MoneyWatch A solution to the retirement crisis? Americans should work for more years, BlackRock CEO saysHe's worth 1.2 Billion, so why is he even commenting. It's just all part of the spin, "You're not saving enough" "Your expectations are too high" When the truth is "Blackrock's predatory business practices loot the American public"
The U.S. Shale Revolution Has Surrendered to Reality
Fracking companies aren’t drilling as investment continues to dry up. https://www.desmog.com/2021/07/16/us-sh ... nvestment/Excuse me? These are oil wells, oil companies, a license to print money we were told. Huge profits just like the old days, you can't miss if you buy in. America the world's biggest exporter. Well apparently not! And what of all the posts on this forum about the subject... Where are those fan boi?
(Reuters) -Rising costs and shortages of labor and materials have plagued U.S. shale oil production all year, and in the waning days of 2022, Shortages of labor, rising costs. None of that matters if you have a viable gold mine today because the earnings mean you can hire who you want, they will come running for a good wage. Shale oil was NEVER viable. It ran on investor debt from start to finish. It was a money laundering enterprise that created a few jobs along the way, paid for by the ponzi income.
Both Rivian and Lucid are now worth a fraction of the prices they fetched at their public-market debuts in 2021. Rivian’s market value is around $9.6 billion, and Lucid’s is about $6.9 billion. That’s a long way down from their $153 billion and $91 billion valuation peaks in 2021.
https://www.bnnbloomberg.ca/investors-f ... -1.2038805Who the hell got left holding
that bag.