"We end up spending more and more in trying to extract resources of various types ... China has been mentioned as being a shale oil-producer possibly, but they are very water-deficient. And how they will find water to do fracking is very uncertain ... We need cheap oil and other energy resources in order to make our current economic model work ... You can keep manufacture in government jobs as long as you want, or as long as you print money, but when you look at these private jobs and their wages that they generate, they seem to stagnate or decline as soon as oil prices get high. And really the time when whe were generating good increases in wages is back when oil was the equivalent of $30 a barrel or less in 2012 dollars. So we really need very cheap oil. It's not just a little bit lower priced oil, it's a lot lower priced oil ... Credit has reached a limit ... It can't really grow if wages aren't growing, so I think this is a big, limiting factor on where we are going right now ... I'm not sure that there's anything you really can do ... We can't collect enough taxes ... And the population just won't put up with it ... Washington would like us all to believe that 'were are all gonna have electric cars tomorrow', 'we can keep on motoring' and that our problem, at most, is, well, our liquid fuel supply-situtation, 'but we will get it fixed with a few more battery-operated cars and windpower' or whatever the thing of the day is."

Zum Interview mit Gail Tverberg, erschienen im Keiser Report (12. März 2013) »