Iraq, Egypt, Mexico, Libya, now the ukraine, many SA nations. When these collapse it takes pressure off the remaining fossil fuel reserves. Extends the timeline, allows us in the West to continue living the life of Riley. The collapse of China that many are chattering about will also reduce the demand, the financial collapse of our own Western nations more so. I have always thought that would be the solution to "peak oil" A Great Great Depression, one that impoverishes 90% or so of the population. Given the delusional paper wealth pensions that are based on the delusional paper investment markets it's all primed and ready to go. Just key in the appropriate command and you're there.
Just imagine it, the entire banking and financial structure collapsing over a matter of months or even weeks. We came very close in the GFC didn't we, 50% off the stock market by the time the dust settled. After 1929 it took 25 tears for the market to recover the previous high and by then many of those older companies were gone, your shares worthless at any rate. But that recovery was aided by massive infusions of cheap OIL. That won't be there next time. The collapse will be a wonder to behold alright. A wonder for those with a safety net, a nightmare for everyone in debt and with their wealth in the digital merry-go-round.
