So whats so special about Crude Oil?
“Oil gave us a once-in-the-history-of-the-planet chance to build a sustainable industrial infrastructure, one that would provide a high standard of living by running on current solar income rather than by drawing down the planetary stock of capital, and so far, we’ve blown it. ´
''Oil gave us a once-in-the-history-of-the-planet chance''
I wanted to just take a moment to consider this claim. I feel it is a fairly big claim, one that is heard very often and accepted as being correct without question.
Personally I think any claims that one is being presented with under the billing ´a once in a life time opportunity´, should be examined very carefully. Often when presented with such entreaties the person claiming to be pointing out the rarity of the opportunity on offer is not without self interest in one taking the supposedly rare choice.
When back in the 1920's oil was adopted as the primary power source along with Coal the state of technology with respect to electricity was also quite advanced, one wonders why Oil was favoured?
When one considers prohibition in the united states (think Bio fuels and hemp) and one also considers the turmoil around the money system and the wider geo-political movements at that time(Gold Standard, USSR,Weimar to National Socialism, Spanish CIvil War). The claim that Oil some how presented us with and still does, with a once in a lifetime of the planet opportunity? I do not think the claim can stand up.
There was some interesting Geo Thermal developments a few months back, never widely reported, but promising. The Solar budget is huge , always has been and will be for the life of the planet, the difficulty for the system of political economy we are subject to has always been that the sun as with the Air we breathe is free , abundant and can not be monopolised or made artificially scarce.
As with the monetary myths I feel that the Oil as a special one off opportunity does not actually hold water especially if one looks outside of the economic system that is pre-supposed to give the claim any credibility in the first place. The standard line is that it is portable and relatively cheap to extract , when one starts off down that road incredulity is but a few steps around the corner.