[OPE-L] Peak Oil? Oil Supply and Accumulation

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
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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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