From: glevy@PRATT.EDU
Date: Tue Jan 22 2008 - 17:30:08 EST
---------------------------- Original Message ---------------------------- Subject: The Bichler & Nitzan Archives: New Item From: "Jonathan Nitzan" <nitzan@yorku.ca> Date: Tue, January 22, 2008 3:22 pm -------------------------------------------------------------------------- Cochrane, Troy. 2008. Peak Oil? Oil Supply and Accumulation. Cultural Shifts, January 4. FROM THE ARTICLE: Peak oil will come. When it does, its effects on the global economy are uncertain. In the meantime, the oil companies must keep the following plates spinning: faith in oil as the energy source of capitalism, a high enough price to remain on top of the corporate world, a low enough and steady enough price to avoid contributing to a lengthy recession, or even a depression. While the differential perspective on accumulation makes it clear that growth is not synonymous with the corporate interest -- as long as everyone else is declining faster than you, then you are differentially accumulating -- depressions are dangerous for their unpredictability and their potential to threaten the capitalist status quo. . . . Undoubtedly, one of these plates will drop. The question is: which one? The consequences of the answer to that question will come more immediately than the geologically necessary peak in production and should be of greater concern. FULL TEXT: http://bnarchives.yorku.ca/249/
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