03 July 2008

Many people came to think that it was money that made the world go round, but in reality it was the underlying supply of cheap energy - much of it coming from oil — Colin Campbell
Crude Awakening is an award-winning documentary film about peak oil. You can view it below from Google Video or download it using BitTorrent.

Some central quotes from Colin Campbell in the documentary:

"There isn't a company quoted on the stock exchange that doesn't tacitly assume the business-as-usual supply of cheap oil. When that isn't there anymore, that means that virtually every company is overvalued on the stock exchange. And as the financial community recognizes this - well, that might trigger some kind of overreaction and a stock market collapse. I think it's very likely.

"I won't be very surprised personally if it doesn't trigger another great depression comparable to the one of the 1930s, if not worse, because this one is imposed by nature rather than being a speculative bubble.

"We are facing some sort of unprecedented, unparalleled situation and that explains why it's so difficult for one to really accept it - one thinks there has got to be a solution. It's somehow contrary to our mindset to think about these things. We just don't like to do it....it's doubly hard because it really has never happened before. It's a strange issue of mindset and attitude and experience and behaviour that somehow leaves us so unprepared for this situation.

"We identify a species called hydrocarbon man - and lives on the strength of all of his oil - well, his days are definitely numbered. Whether mankind or Homo sapiens as a species altogether will carry on living some different, simple way - that's another question." Video Link