Transport -- ships, trucks, trains, planes, and cars all depend on liquid fuel.
The cost of oil is a value-added tax that trickles through every transaction, and every physical activity, in the real economy. Cheap oil production peaked in 2005. Every day since, it takes more joules to get oil to wheels, propellers, and assembly lines than it did the day before. This is a built-in drag on the world economy.
Sitting above the real economy, central banks make up the difference by creating money on their keyboards. This increased debt creates additional economic drag by extracting interest from the real economy.
Any threat to oil-demand is a threat to the bankers. This is why they will attack free public transit.
They want to make riding public transit an unpleasant experience.
Expect attack. Expect intimidation. Expect sowing of doubt and uncertainty.
The cost of oil is a value-added tax that trickles through every transaction, and every physical activity, in the real economy. Cheap oil production peaked in 2005. Every day since, it takes more joules to get oil to wheels, propellers, and assembly lines than it did the day before. This is a built-in drag on the world economy.
Sitting above the real economy, central banks make up the difference by creating money on their keyboards. This increased debt creates additional economic drag by extracting interest from the real economy.
Any threat to oil-demand is a threat to the bankers. This is why they will attack free public transit.
They want to make riding public transit an unpleasant experience.
Expect attack. Expect intimidation. Expect sowing of doubt and uncertainty.
