Category Archives: Doomsday scenarios

Michael Klare: DoE Forecasts No Meaningful Change in Fossil Fuel Use by 2040

Yves here. While this post focuses on a newly-released Department of Energy forecast, and forecasting is always a fraught exercise, there’s good reason to see it as realistic. It reflects the power of inertia and entrenched interests. If anything, you’d expect the DoE to present a hopeful outlook on the growth of eco-friendly power sources, given how often Obama talks about “green energy” and “green jobs,” but the authors appear to have steered clear of undue optimism.

The US Wastes Enough Energy Each Year to Power the UK for Seven Years

Yves here. Let me underscore that the source for this article is not a granola-head organization but the Lawrence Livermore National Laboratory, which is one of the US national labs, or more formally, the United States Department of Energy national laboratories and technology centers.

Fed’s Jackson Hole Participants to QE-Exit Whacked Emerging Economies: Drop Dead

The latest Fed confab at Jackson Hole is demonstrating that central bankers were so keen to avoid taking much blame for the global financial crisis that they also failed to learn critical lessons from it. That lapse in turn is directly related to the present emerging markets upheaval that has the potential to morph into something worse.

Ilargi: The Darker Shades Of Shale

By Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, Cross posted from Automatic Earth

No, I wasn’t going to write a third article on shale in 2 weeks, absolutely not. But what I’ve read these past few days doesn’t leave me much choice.

Fixing Old Markets With New Markets: the Origins and Practice of Neoliberalism

Philip Mirowski is the Carl Koch Professor of Economics and the History and Philosophy of Science University of Notre Dame. Professor Mirowski’s latest book is Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown

The interview was conducted by Nathan Tankus, a student and research assistant at the University of Ottawa. He is currently a Visiting Researcher at the Fields Institute

Ilargi: London Is Fracking, And I Live By The River

By Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, Cross posted from Automatic Earth

It’s a state of mind, a way of thinking and a belief system bordering on outright religion all in one. If it would be recognized as a religion, it would be the world’s biggest. Its followers and proponents hold that growth is a necessary element of survival, that technology is capable of solving all problems (especially those caused by mankind), and that the earth, nature, the living environment, is there for mankind to be exploited at will to achieve that growth

Michael Klare: The Third Carbon Age – Drop the Fantasy of a Coming Era of Renewable Energy

Yves here. To put none too fine a point on it, the most important steps to reduce carbon emissions would be a Marshall plan level effort to reconfigure living and resourcing arrangements so as to reduce energy demands, and to go particularly aggressively after the worst polluters (for instance, the cars you see spewing fumes, are surprisingly large contributors to total emissions from automobiles). But it’s much easier to go the Easter Island route and keep carrying on more or less as before until you hit insurmountable constraints.

European Pundits Starting to Give Up on the Eurozone

We’ve been pointing out for some time that Germany has refused to budge from wanting contradictory things relative to the Eurozone. Now something still has to break, but some of my correspondents who’ve just been in Europe now think that we will see a political crisis in Europe before we see an economic one, and that, like objects in your rear view mirror, may be closer than it appears.

Europe’s Good News, Bad News

Data out of Europe is showing relative improvement on several important fronts, but is this merely stabilization or “less bad” as opposed to finally turning a corner?

James Galbraith on Social Breakdown and Financial Stress in Europe and Why the Word “Stimulus” Needs to be Banned

Yanis Varoufakis provided the English translation of a new interview with James Galbraith published in Suddeutsche Zeitung. Galbraith focuses on institutional arrangements, the need for restructuring and reform, and constraints on growth.