Comment: Re:Frak! (Score 1) 289
I was kicking back up something an old professor told me... about people's primary motivations being fear and greed.
Marketing will either play to your fear ( especially insurance companies, and religions selling "fire insurance" ) or greed ( especially investment advisors and real estate brokers )
I indicated it was in me too. Yes, I invested a lot of my resources in oil a couple of years ago, as I was convinced "peak oil" was here, and I thought few other people were aware of it. I felt with my understanding of M. King Hubbert's work with the Logistic equation and the stints I served in the oil patch where I had observed depleting oilfields first hand, I felt I had a better understanding of the gravity of the situation. I am very aware of the Logistic Equation and its implications. The exponential rate of our reproduction... 6.5 billion of us now... and energy demand now exceeding 500 exajoules/year , most coming from ancient sunlight stored in fossil fuels.
I honestly thought there was hell to pay. Soon. and I would be able to profit from it.
That's not what happened. I lost my investments in solar power and alternative energy research. Now the talking heads are saying we have more oil than we know what to do with, we are going to become a net exporter, go buy your big car, and the party is going to go on. While everything inside of me says this is just marketing lies similar to those in the oilpatch by some to sell a well which struck a gas pocket to ignorant investors.
Meanwhile, I have family back in farming areas who tell me their wells no longer give good water. They tell me their water reeks of oil.
Now, in my limited knowledge of subsurface structures, I can just imagine fracturing the barriers that have been in place for eons separating water and oil-bearing strata. I can see some getting rich. Others having their water messed up.
How many drops of oil in the water tank make the whole tank undrinkable?
We studied this phenomena in economics..... its called "Tragedy of the Commons".
I was watching this in action last weekend as the local education board was meeting again trying to get more taxes passed as the ruptured economy caused by Bernake's hiking the federal funds rate after the government had put all sorts of incentives in place for poor people to invest their life savings in debt ( aka "Community Reinvestment Act - which forced banks to make subprime loans - then allowed banks to pawn off these toxic financial instruments onto investors ).
They just haven't got the message yet. A lot of us are losing their homes. A lot of us can no longer afford restaurant meals. A lot of us can no longer afford people in the school system which are not actively teaching a class. We can't solve this with yet more taxes. Yet, I see these people given their government-given power to lay and collect tax insulating them from the burden their wastefulness places on everyone else.
I wish we were all innocent artists - like the children the Bible refers to. But it doesn't quite work that way. Many make a fine living from gaming the system. And others work very hard to survive.
I did not think the Fed would hike rates after "helping" all those low income people get into homes with subprime adjustable rate mortgages, making all those people they had "helped" lose not only their homes, their life savings, and what little credit rating they had. They did.
I am watching the way this whole affair plays out and it makes me sick.