Bazz I have no doubt we are headed that way. If we don't damn soon get over our aversion to nuclear energy, we will have a hell of a lag to catch up, but not in my lifetime I don't think.

I don't see much problem with a few Yank junk bond buyers losing their shirts. Those losses, if realised, will have put T-shirts on a lot of workers backs, & their kids backs along the way. Money, like energy, is not destroyed, it just changes which bank account it appears in.

What ever the long term outcome, it has certainly reduced my fuel bill considerably, & if it means some Arabs have to drive silver plated, rather than gold plated Ferraris, I really don't care.

Besides all we need is for someone to invent a better vacuum cleaner, & we can start sucking up all that methane clathrate on the bottom of the deep ocean, & shoving it in our car's fuel tanks. That may be the next way to skin the cat.

I am on unfamiliar territory in praying to the multiple-faith God in hoping, nay pleading, that low oil prices:

1. impoverish the undeserving Arab oil monarchies,

2. that these oil monarchies run out of money they spend to finance Islamic terrorism around the world, and

3. oil actually costs less for the Aussie consumer .

Yours

Planta

Hasbeen,
Yes, considering the poor ERoEI of the existing systems at
present there are only two alternatives available that can do the job.
Nuclear and Geothermal (if they can get it going).

There really is nothing else.
What makes it frightening is the total disconnect of the political class.
I saw Shorten babbling on Growth, Growth, Growth.
Joe Hockey says GRowth is the way !

Haven't either of these pollies got the message yet ?
The "End of Growth is neigh" !

I wonder what they think has happened in Europe ?

We have seen the start of it and although if we are extraordinarily
lucky it might not have much effect in our lifetime our children will
really be impacted as their super goes nowhere.
Our grandchildren will be condemned to be renters of Chinese property .
Actually I think there will be a dramatic effect during the next 10 years.
All this while the moslems conduct their civil war with the Chinese.

Oh well, will they never learn ?

Whoops, in the first post on this thread I reported that the drilling
lease approvals from October to November fell 40%.
I have just read a report that the drilling rig count has remained steady
over that same period.
I don't know how far ahead lease permits are of actual drilling but it
might mean the 40% was not accurate.
If there are dramatic changes, will put another post on here.