Ahead of the Curve/About to Fall
Infamous Paul Krugman-stalker and economist Donald Luskin demonstrates how to wax vacuously.
Just as important, more supply is on the way. New petroleum resources are being developed around the world, in the form of new conventional oil as well as new sources like tar sands. An executive of a major multinational oil conglomerate recently walked me through some of the new supply coming online in the next year -- and he laughed at today's high prices, as though the market was making a colossal and temporary mistake (and one very profitable to my executive friend's company).Luskin egotistically calls his column Ahead of the Curve. If Luskin indeed inhabits the leading edge of the Hubbert Peak profile, able to see in the future, we have nothing to fear.
More likely, he has metaphorically run off a cliff edge, and like the coyote in the roadrunner cartoons, doesn't realize that nothing sits undereath him. (In his mind) he will stay up there indefinitely, as long as he doesn't look down.That remains the mantra of every little bullet-point spouting, reactionary wingnut out there. Nobody can smote me down because I fly on the shoulders of the lord. I don't even try to advance my understanding, only doctrinaire belief matters in the end. Pssst ... it's just a cartoon, buddy.
posted by @whut at August 19, 2005
2 Comments:
Well, if there was any doubt that we are near peak production it has been removed by Luskin's pronouncement. Just like his stock market advise a guy can't go far wrong by listening to it and then doing as close to the opposite as is humanly possible. The guy is a human contraindication.
I always like these human contraindications - very handy to have them around :-)
Like the coyote metaphor too WHT.
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