I understand there’s a small but growing contingent of people who strongly believe the same as Michael Rupert in that we are going to see a huge depression this year as a result of the Peak Oil situation.
For me, it’s not very difficult to discount out of hand all that Mr. Rupert puts forth in this respect. Let’s start with Mr. Rupert’s latest post, issued 10/05/05, linked here. In it he links five news stories, and provides a few comments of his own to preface the series. None of the articles are primary source articles actually written by Mr. Rupert, one is an opinion article masquerading as a fact article (America Be Wary of the New Silk Road), one is an environmental article on shaky scientific ground (New satellite observations show sea ice in the Arctic is melting faster, while air temperatures in the region are rising sharply, scientists said), two of which are articles about the effect of the hurricane by CNN (No easy fix for Rita-damaged oil works, and Report: Rigs take record hit from Rita). The only article of any significance is the Chavez article (Chavez: Venezuela Moves Reserves to Europe).
Rupert then provides the following commentary to accompany the articles:
It is clear to the whole world what is coming for the US economy. Gulf energy production is still almost completely shut in and won’t be repaired for years. It makes no difference if half of the refineries are back up because they can’t get product. Rig damage is far worse than expected and there is still no full assessment of the pipelines running from platforms to shore. Bush just added $300 billion in new expenditures for clean up and said he wouldn’t raise taxes. Consumer confidence is plunging. Credit card late pays and defaults are soaring. Venezuela will not be the last nation to pull its reserves out this fall and winter. To put it bluntly, the US is now a bad investment. And the two-plus billion dollars a day needed to finance our economy is going to dry up very quickly.
The US house of economic cards is starting to come down. – MCR
To me, at least, it is clear that he is either completely entrenched in his viewpoint so that all he sees are patterns that prove his own points, or he’s being willfully ignorant of the context and actual meanings of these articles to prove his own conclusions. In otherwords, Rupert starts with a conclusion, and works his journalism backwards from the point to the evidence. Given that, he’s always going to reach the same conclusion, but never really prove his point to those who aren’t already convinced.
Let me explain.
The Chavez article does not indicate that there is some credible threat to the U.S. economy, or that our policies somehow make our economy more subject to foibles than the European economy. The article about Chavez shows that Chavez is ardently anti-American. You mean to tell me that you actually think that your money is safer in Germany, where there are currently shades of World War II and World War I and a constitutional crisis? I don’t think so. No one is that stupid. No one is stupid enough to believe that Eastern Europe is a better place to put money than a New York City bank.
There’s no real reason to break down point by point the environmental article. I’ll quote a line from the article itself, and if everyone who reads this blog can’t determine what the problem is with associating the study with the concept of global warming, I want you to close your browser window and never come back to my website again: “Sea ice records in the Arctic are sketchy before 1978.” Don’t get it still? Re-read the title of the article: “New satellite observations show sea ice in the Arctic is melting faster, while air temperatures in the region are rising sharply, scientists said.” Still don’t get it? The article and Rupert intimate that it’s our usage of fossil fuels that create the problem. Still don’t get it? Keep re-reading this paragraph over and over until you understand where the problem comes in. Don’t stop until you get it.
The article about the “Silk Road” is nothing more than a propaganda piece by a news site that panders to the Chinese government – it is a propaganda piece talking up the wonders of living in Communist China, and how it’s superior to being in America – if you’re an Arab. Check out Amnesty International if you actually believe that tripe. Chinese people hate Arabs, just like the rest of the world does right now, except they do more than just stack them naked ten high when they bomb people’s cities. They just kill’em (and bill the families for the bullets).
For those of us that live in Florida or Houston, I really shouldn’t have to point out how hard it is for us to believe any news article coming from CNN, FNC, MSNBC, CNBC, or the Weather Channel if the article in any way contains Hurricane. All the cable news networks have lied more in the last two months about hurricanes and hurricane coverage (and then lied some more to cover up they’re obvious lies), that if anyone ever sends me an article again saying a CNN article proves this that or the other about something having to do with a hurricane, I won’t even dignify it with a response.
Listen, I’m not saying Peak Oil doesn’t exist. I’m saying that it’s strongest proponent, Michael Rupert, does a piss-poor job convincing me.
Come back to me with primary sources, non-MSM articles that do their research and aren’t sponsored by an enemy state, and industry insiders that will actually disclose their names, and we might have something.