The Peak Oil Crisis: 2012 -- Apocalypse Now?

[Lyric]

Looking at what seems to be shaping up for 2012 that could be of apocalyptic proportions we have the rapidly deteriorating financial situation in the EU. Despite endless expressions of optimism on the part of political leaders, most unbiased observers believe there is nothing that can be done to prevent an economic downturn. Some are politely referring to this downturn as a double-dip recession, but others foresee a global depression equal to or worse than the one that occurred 80 years ago. The "worse than" thesis comes from the notion that there will not be the quantities of cheap energy available to support a recovery, and that there will have to be a major transition in the sources and use of energy before economic growth will ever resume.

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The second set of problems likely to explode in 2012 is the political instability. The most serious is in the Arab world, but as demonstrations in Moscow, China, Kazakhstan, Europe, and even mild ones on Wall Street show, social unrest is turning into a worldwide problem as resources become constrained and economic growth slows. Mankind now has seven billion mouths to feed and these are increasing by 70 million each year. There is going to be a turning point, the only question is when?

Unrest and various geopolitical confrontations have already reduced or eliminated oil exports from Libya, Yemen, and Syria this year. Efforts to sanction Iran seem to be picking up steam and the oil markets are nervous that many countries soon will be forced to stop buying Iranian crude. The Syrian situation continues downhill and the delicate Iraqi political balance that was crafted by the US appears to have lasted for only a few days after the last US troops were withdrawn. It is a good bet that there is going to be less oil exported from the Middle East and possibly Central Asia by the end of next year - raising oil prices despite deteriorating economic conditions.

Read full article: http://www.countercurrents.org/whipple221211.htm

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Have any of you been preparing for Peak Oil? I know that loading your garage with food supplies, fuel, and other necessities seems paranoid from a certain perspective...but on the other hand, those paranoid types are going to be the ones doing well when everything goes to hell and the system falls apart. Any ideas how low-income people in particular can prepare for the effects of Peak Oil? And do you think it's going to be a sudden catastrophe, or more like a frog-in-a-boiling-pot situation?