Peak Oil & Economic Decline

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Date Host Art Bell

Author Matt Savinar outlined a bleak future as we have reached the stage of "Peak Oil," in which worldwide oil production will begin to decline due to diminished reserves. In the years ahead, this will plunge us into a "meltdown of the modern economy," he believes, where oil could cost as much as $182 a barrel or $7.00 a gallon. Eventually, he predicts civilization will be thrust back into the stone age, and the plentitude of fossil fuel will be seen as a "blip in history."

Savinar argued that it's too late for alternative fuels such as hydrogen to repair the situation. A new energy source would have to be retrofitted to run a 40 trillion dollar infrastructure, which even if it could be done, would then just "allow us to deplete other resources," he said.

One approach to this insoluble problem, is to become part of a self-sustaining community or "eco-village," which Savinar said he plans to do in the near future.

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