In the dance called The Limbo, the pole is lowered repeatedly until the dancers can't pass under it any more ~ then they are out and others keep at it until the guy who can go the lowest is the winner. How low can you go? In the case of current petroleum prices, it's how deaf can you be? - the entire energy superstructure and the failure of government, politicians, bankers and investment gurus to listen to the geologists over the past 40 years, the Cassandra's were hated and ignored because their warnings were unpleasant and threatened the beloved "happy motoring" lifestyle which everyone the world over was so enamored of. The words Peak oil ~ most people are just hearing it now.
I have to chuckle when I hear politicians clamoring for "more drilling" to solve the problem. More drilling will help but more drilling isn't gonna solve this problem. Yes, oil is a precious commodity. But, the world is nearly out of extractable oil, and we haven't heeded the warnings and have no replacement in place.
Ah, human nature. 48 hours without the gas-powered supply line and they're up a creek without a paddle.
The linked articles are from Bloomberg.com