Well, that’s something of a relief. Royal Dutch Shell, obviously disappointed, having made huge investments in exploration costs, announces today it is giving up looking for oil in the Arctic for the foreseeable future due to not finding sufficient amounts to make drilling and extraction worthwhile.
Well, whadda you know? Here beginneth the beginning of the end for the oil based society we live in.
This post inspired, straight from the horses mouth, by: Shell updates on Alaska exploration
With the US shale industry already in rout mode, leading to a rapid collapse in production and widespread financial haemorrhage, global oil production, having no new extraction sources to fall back on, will resort to the level of decline that began back in 2005 as the wise commentators of our community always said it would.
What does that mean? Well, it signals pretty much the end of the road for globalization, technological development, international travel, motorised transport in general, industrial farming, the pharmaceutical prolongation of human life, and it provides all of the right triggers (as if any more were needed) for a general collapse of finance, commerce, government and military business as usual.
Is that enough? Should we all be doing something, not to prevent or avert it, but to make ready for it? Hmm… that’s for you to decide.