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http://thearchdruidreport.blogspot.com/

Planet of the Space Bats

As my regular readers know, I’ve been talking for quite a while now here about the speculative bubble that’s built up around the fracking phenomenon, and the catastrophic bust that’s guaranteed to follow so vast and delusional a boom. Over the six months or so, I’ve noted the arrival of one warning sign after another of the impending crash. As the saying has it, though, it’s not over ‘til the fat lady sings, so I’ve been listening for the first notes of the metaphorical aria that, in the best Wagnerian style, will rise above the orchestral score as the fracking industry’s surrogate Valhalla finally bursts into flames and goes crashing down into the Rhine.

I think I just heard those first high notes, though, in an improbable place: the email inbox of the Ancient Order of Druids in America (AODA), the Druid order I head.

I have no idea how many of my readers know the first thing about my unpaid day job as chief executive—the official title is Grand Archdruid—of one of the two dozen or so Druid orders in the western world. Most of what goes into that job, and the admittedly eccentric minority religious tradition behind it, has no relevance to the present subject. Still, I think most people know that Druids revere the natural world, and take ecology seriously even when that requires scrapping some of the absurd extravagances that pass for a normal lifestyle these days. Thus a Druid order is arguably the last place that would come to mind if you wanted to sell stock in a fracking company.

Nonetheless, that’s what happened. The bemused AODA office staff the other day fielded a solicitation from a stock firm trying to get Druids to invest their assets in the fracking industry.

Does that sound like a desperation move to you, dear reader? It certainly does to me—and there’s good reason to think that it probably sounds that way to the people who are trying to sell shares in fracking firms to one final round of clueless chumps, too. A recent piece in the Wall Street Journal (available outside the paywall here) noted that American banks have suddenly found themselves stuck with tens of millions of dollars’ worth of loans to fracking firms which they hoped to package up and sell to investors—but suddenly nobody’s buying. Bankruptcies and mass layoffs are becoming an everyday occurrence in the fracking industry, and the price of oil continues to lurch down as producers maximize production for the sake of immediate cash flow.

Why, though, isn’t the drop in the price of oil being met by an upsurge in consumption that drives the price back up, as the accepted rules of economics would predict? That’s the cream of the jest. Here in America, and to a lesser extent elsewhere in the industrial world, four decades of enthusiastically bipartisan policies that benefited the rich at everyone else’s expense managed to prove Henry Ford’s famous argument: if you don’t pay your own employees enough that they can afford to buy your products, sooner or later, you’re going to go broke.

By driving down wages and forcing an ever larger fraction of the US population into permanent unemployment and poverty, the movers and shakers of America’s political class have managed to trigger a classic crisis of overproduction, in which goods go begging for buyers because too few people can afford to buy them at any price that will pay for their production. It’s not just oil that’s affected, either: scores of other commodities are plunging in price as the global economy tips over into depression. There’s a specter haunting the industrial world; it’s the ghost of Karl Marx, laughing with mordant glee as the soi-disant masters of the universe, having crushed his misbegotten Soviet stepchildren, go all out to make his prophecy of capitalism’s self-immolation look remarkably prescient.

The soaring price of crude oil in the wake of the 2005 global peak of conventional oil production should have served notice to the industrial world that, to adapt the title of Richard Heinberg’s excellent 2003 summary of the situation, the party was over: the long era in which energy supplies had increased year over year was giving way to an unwelcome new reality in which decreasing energy supplies and increasing environmental blowback were the defining themes. As my readers doubtless noticed, though, the only people who willing to grasp that were out here on the fringes where archdruids lurk. Closer to the mainstream of our collective thinking, most people scrunched shut their eyes, plugged their ears with their fingers, and shouted “La, la, la, I can’t hear you” at the top of their lungs, in a desperate attempt to keep reality from getting a word in edgewise.

For the last five years or so, any attempt to talk about the impending twilight of the age of oil thus ran headfirst into a flurry of pro-fracking propaganda. Fatuous twaddle about America’s inevitable future as the world’s new energy superpower took the place of serious discussions of the predicament into which we’ve backed ourselves—and not for the first time, either. That’s what makes the attempt to get Druids to invest their life savings in fracking so funny, in a bleak sort of way: it’s an attempt to do for the fracking boom what the fracking boom attempted to do for industrial civilization as a whole—to pretend, in the teeth of the facts, that the unsustainable can be sustained for just a little while longer.

A few months back, I decided to celebrate this sort of thinking by way of the grand old Druid custom of satire. The Great Squirrel Case Challenge of 2015 solicited mock proposals for solving the world’s energy problems that were even nuttier than the ones in the mainstream media. That was no small challenge—a detail some of my readers pointed up by forwarding any number of clueless stories from the mainstream media loudly praising energy boondoggles of one kind or another.

I’m delighted to say, though, that the response was even better than I’d hoped for. The contest fielded more than thirty entries, ranging from the merely very good to the sidesplittingly funny. There were two winners, one chosen by the members of the Green Wizards forum, one chosen by me; in both cases, it was no easy choice, and if I had enough author’s copies of my new book After Progress, I’d probably just up and given prizes to all the entries, they were that good. Still, it’s my honor to announce the winners:

My choice for best squirrel case—drumroll, please—goes to Steve Morgan, for his fine gosh-wow sales prospectus for, ahem, Shares of Hydrocarbons Imported from Titan. The Green Wizards forum choice—drumroll again—goes to Jason Heppenstall for his hilarious parody of a sycophantic media story, King Solomon’s Miners. Please join me in congratulating them. (Steve and Jason, drop me a comment with your mailing addresses, marked not for posting, and I’ll get your prizes on the way.)

Their hard-won triumph probably won’t last long. In the months and years ahead, I expect to see claims even more ludicrous being taken oh-so-seriously by the mainstream media, because the alternative is to face up to just how badly we’ve bungled the opportunities of the last four decades or so and just how rough a road we have ahead of us as a result. What gave the fracking bubble whatever plausibility it ever had, after all, was the way it fed on one of the faith-based credos at the heart of contemporary popular culture: the insistence, as pervasive as it is irrational, that the universe is somehow obligated to hand us abundant new energy sources to replace the ones we’ve already used so profligately. Lacking that blind faith, it would have been obvious to everyone—as it was to those of us in the peak oil community—that the fracking industry was scraping the bottom of the barrel and pretending that this proved the barrel was full.

Read the morning news with eyes freed from the deathgrip of the conventional wisdom and it’s brutally obvious that that’s what happened, and that the decline and fall of our civilization is well under way. Here in the US, a quarter of the country is in the fourth year of record drought, with snowpack on California’s Sierra Nevada mountains about 9% of normal; the Gulf Stream is slowing to a crawl due to the rapid melting of the Greenland ice sheets; permanent joblessness and grinding poverty have become pervasive in this country; the national infrastructure is coming apart after decades of malign neglect—well, I could go on; if you want to know what life is like in a falling civilization, go look out the window.

In the mainstream media, on the occasions when such things are mentioned at all, they’re treated as disconnected factoids irrelevant to the big picture. Most people haven’t yet grasped that these things are the big picture—that while we’re daydreaming about an assortment of shiny futures that look more or less like the present with more toys, climate change, resource depletion, collapsing infrastructure, economic contraction, and the implosion of political and cultural institutions are creating the future we’re going to inhabit. Too many of us suffer from a weird inability to imagine a future that isn’t simply a continuation of the present, even when such a future stands knocking at our own front doors.....