Peak Oil? Oil Supply and Accumulation

Peak Oil? Oil Supply and Accumulation
Cochrane, D. T. (2008). Cultural Shifts. 4 January. (Magazine Article; English).

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Alternative Locations

http://culturalshifts.com/archives/205, http://culturalshifts.com/archives/205/print

Abstract or Brief Description

FROM THE ARTICLE: Peak oil will come. When it does, its effects on the global economy are uncertain. In the meantime, the oil companies must keep the following plates spinning: faith in oil as the energy source of capitalism, a high enough price to remain on top of the corporate world, a low enough and steady enough price to avoid contributing to a lengthy recession, or even a depression. While the differential perspective on accumulation makes it clear that growth is not synonymous with the corporate interest -- as long as everyone else is declining faster than you, then you are differentially accumulating -- depressions are dangerous for their unpredictability and their potential to threaten the capitalist status quo. . . . Undoubtedly, one of these plates will drop. The question is: which one? The consequences of the answer to that question will come more immediately than the geologically necessary peak in production and should be of greater concern.

Language

English

Publication Type

Article - Magazine

Keywords

capital differential accumulation peak oil

Subject

BN War & Peace
BN Money & Finance
BN Region - Middle East
BN Distribution
BN International & Global
BN Power
BN Region - North America
BN Capital & Accumulation
BN Value & Price
BN Crisis
BN Production

ID Code

249

Deposited On

30 April 2010

Commentary/Response Threads

• Nitzan, Jonathan and Bichler, Shimshon. It's All About Oil. (deposited 18 February 2008)
  • Cochrane, D. T. Peak Oil? Oil Supply and Accumulation. (deposited 30 April 2010) [Currently Displayed]