Tuesday, May 04, 2010

Kunstler: oil spill is looking every hour more like an event horizon that will rock the whole industry

Senator Levin pretty much had Goldman Sach's Lloyd Blankfein dead in a casket with that now-notorious email from GS's head of sales and trading, Tom Montag, describing one of their billion-dollar investment "products" as "one shitty deal." Levin seemed to delight in crossing the boundary into the realm of the unspeakable, knowing that even the so-called "family" newspapers and cable TV networks would have to report it. And just to make sure nobody missed the point, the senator repeated that phrase at least twenty times before the day was over.

SHOOT: It seems are troubles are stepping up, each time becoming larger and more complicated. That happens when you ignore the problem which is Peak Oil, and you ignore it because it seems convenient. Meanwhile the shadows gather and increase and begin to manifest.
clipped from kunstler.com
The eco-disaster underway from the Deepwater Horizon oil spill is looking every hour more like an event horizon that will rock the whole industry and, with it, the developed world. At the moment, oil is over $86 a barrel (and gasoline over $3 for regular at the pumps).
     I continue to wonder how it will all go down this summer in the Hamptons where, like Versailles in 1789, the elite mega-wealthy of today cavort shamelessly in a semi-private fantasy-land of status vamping for the Vanity Fair shutterbugs. The Hamptons are not defensible -- unless you count privet hedge as an effective fortification. Any bloody-minded gang of unemployed, grievance-maddened mudlarks can creepy-crawl down the Sunrise Highway to Gin Lane with firearms bought at the WalMart (and modified to full-automatic in the garage).  What if hundreds -- thousands! -- of them get the same idea? Louis XVI and his homeys probably never thought the mobs would scale the ha-has of his fabulous estate, either.
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