The Imperial hubris of America's Elites offers up a tempting target for black swans, as suppressing the sources of instability only increases the odds of disruptive instability.
I notice that a number of predictors for 2012 never mention the flock of black swans that are currently circling in the murk before us. While I appreciate their anonymity, I was reminded of their presence last night about 10 PM while working in my shop. I had the door open to an almost Springlike night when I heard quite a flock of Canadian Geese passing over, heading north. In December!
The United States consumed 19.1 million barrels per day (MMbd) of petroleum products during 2010, making us the world's largest petroleum consumer. The United States was third in crude oil production at 5.5 MMbd. But crude oil alone does not constitute all U.S. petroleum supplies. Significant gains occur, because crude oil expands in the refining process, liquid fuel is captured in the processing of natural gas, and we have other sources of liquid fuel, including biofuels. These additional supplies totaled 4.2 MMbd in 2010.In 2010 the United States imported 11.8 million barrels per day (MMbd) of crude oil and refined petroleum products. We also exported 2.3 MMbd of crude oil and petroleum products during 2010, so our net imports (imports minus exports) equaled 9.4 MMbd.
If this recession strikes you as different from previous downturns, you might be interested in my new book An Unconventional Guide to Investing in Troubled Times (print edition) or Kindle ebook format. You can read the ebook on any computer, smart phone, iPad, etc.Click here for links to Kindle apps and Chapter One. The solution in one word: Localism.
Readers forum: DailyJava.net.
Order Survival+: Structuring Prosperity for Yourself and the Nation (free bits) (Kindle) orSurvival+ The Primer (Kindle) or Weblogs & New Media: Marketing in Crisis (free bits)(Kindle) or from your local bookseller.
|Thank you, William H. ($50), for your staggeringly generous contribution to this site -- I am greatly honored by your support and readership.||Thank you, William K. ($50), for your supremely generous contribution to this site -- I am greatly honored by your support and readership.|