Tuesday, October 25, 2011

The Clue Phone Goes Unanswered

"...At the same time last week, the American solar industry filed a trade complaint against Chinese solar makers, who produce 55% of the world's solar panels. They allege that China is selling its solar panels below cost, which would be consistent with the Chinese industrial policy of preparing for a post-oil world. According to Stephen Leeb's new book "Red Alert," China spends over $350 billion a year on renewable energy infrastructure, locking up critical supplies of zinc, silver, gold, copper, and rare earth minerals. Meanwhile, America spends its money keeping sea lanes open for dwindling oil supplies.

The Chinese are improving their skill at making solar panels, whereas American policymakers are explicitly avoiding building a post-oil energy infrastructure. Chinese elites want to secure oil and coal, of course, but they are also rapidly preparing for the day when these resources cannot be profitably extracted and used. American elites are engaged in a more short-sighted strategy of destroying any possible bridge to a post-oil energy future to protect their status quo profits. Leeb believes that this is a choice that could mark the end, not just of American dominance, but of American civilization...." (emphasis mine)

How Did Our Oil Get Under Their Sand?
-Dylan Ratigan

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