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Oct 7, 2013

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the sinkholes of stupid which are causing collapses wherever they occur. They explain how in Texas, they are totally fracked as the sinkhole of stupid has caused water shortages. 30 towns now have no potable water that can be drawn from underground, due to fracking. 

In the second half, Max talks to Chris Martenson about the four signs of dangerous bubble territory, the markets oblivious to the costs of Fukushima meltdown, the out of control fission going on there, the biggest industrial accident in history, far from being fixed. They will have to dig deeper into debt and they are already 200% in debt. 

They are printing money like it is going out of style, buying each other's debt, creating bubbles, quality of life is deteriorating around the world, oil prices are triple digits, and they have to stay there, or all of the shale and oil sands operations will cease. Ultra deep water oil drilling would also stop, and create a price squeeze, driving prices back up. Heroic drilling efforts are sustaining the prices where they are. 

In Texas, the bad economics of fracking are coming home to roost. They are having to stop fracking, due to lack of water. Insurance companies are refusing to provide insurance to any home that is close to a fracking well, or near an ocean. 

The price of insurance is going up, and risks of losses are going up. Texas is stopping repaving roads and letting them go back to gravel. They can't afford to keep repaving them.  

They also don't know what to do with the toxic, radioactive fracking fluids. The fracking companies are also contaminating wells, and have no plan on how to get them cleaned up. They have reached the peak of water and are now on the downhill side, as water is a limited commodity, especially in Texas, and they are now finding that out the hard way.  

The EPA and US government are caving in to the oil industry, but the insurance industry is telling us the truth about the risks, which is exactly what the green environmentalists are warning us about. 

The economics of fracking suck. The energy going into developing the well, is often greater than what comes out of it. It used to be 20 units of energy and profit came out for every one that went into it. That equation has been steadily dropping and is now 1 to 1 in most cases of new wells. 

We have reached peak oil, peak water, and peak stupid. What comes next? The empire of idiocracy is running on fumes... It will be interesting to see what happens when the fumes run out. 
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Max Keiser and Stacy Herbert Discuss  Sinkholes of Stupid and Empires Of Radioactive Fracking Idiocracy; via @AGreenRoad

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Posted: Monday October 7, 2013, 3:52 pm
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