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Chris Discusses Oil, Fracking, Fukushima & Market Bubbles with Max Keiser

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  • Fri, Aug 30, 2013 - 10:03pm


    Adam Taggart

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    Chris Discusses Oil, Fracking, Fukushima & Market Bubbles with Max Keiser

Chris was interviewed by Max Keiser this week. As usual, the resulting discussion was animated, insightful & entertaining.

(Chris appears at 12m:40s):

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  • Sat, Aug 31, 2013 - 09:26am



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    Good Discussion!

Thank you!

  • Sat, Aug 31, 2013 - 01:44pm



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    One of the few

other places that I visit on the web that I visit on a regular basis, The Keiser Report.  Chris with his steady well reasoned and conservative approach to things, and Max with his flamboyant over the top antics, great combination for a well balanced media diet.

People are finally starting to get it. The sink hole of stupidity is finally starting to sink in.  Weapons of mass destruction used by Assad in Syria, really!  Fracking is going to lead to prosperity and energy independence, really?  The economy is in full recovery, really!  Fukushima is fine and totally under control, no need to do any reporting on that situation, really?  The lies and propaganda are finally starting to collapse in on themselves.

Congress and the British parliament beginning to find a backbone, we need to declare war they are finally saying. And yes when you lob missles into a foreign country, that is war.  Insurance companies not insuring houses on top of fracking wells.  Ranchers running out of water. Energy prices still extremely high. It is amazing, reality has this persistant quality it, doesn't it.

Self centered, self indulgent, short sighted, rapacious, greedy behavior doesn't lead to harmonious families, communities and countries, really?  Fear and violence don't lead to peace and harmony, really!  A "what's in it for me" attitude doesn't get me what I want, really?  They say human beings always do the right thing …….  after they have tried everything else.  Looks were are getting to the point where we have tried everything else.

  • Sat, Aug 31, 2013 - 04:04pm



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    Max Keiser

            Good interview.

            I love how Max Keiser can cut through all the rhetoric and seize the heart of an issue.  His tone and presentation keep things from becoming overwhelmingly negative and depressing.  It’s a form of smiling at the enemy:  laughter in the face of doom.  This is an important skill to learn and Keiser does a great job of teaching by example.  If we cannot see the irony in our situation, if we cannot laugh at the often ridiculous propositions put before us by our politicians and the main stream media, we run the risk of being overcome and paralyzed with fear. 

Many bloggers bemoan the state of the general population.  They envision the “sheeple” as fat, willfully ignorant, greedy and lazy.  Many of us will be tempted to understand the term “sinkhole of stupidity” as not only summarizing the craziness of fracking but as a metaphor for the intellectual and political state of much of the citizenry.

I have to say, that in my own antidotal experience, the majority of people I meet are not “sheeple” at all.  They have a general sense and experience of things getting worse, of a future that will be far more difficult than the recent past.   They are not ignorant.  However, they have no idea how to begin to deal with what is happening now and  with what is to come.  They have no clue as to how to influence events on a political or social level, so they focus on the only level they can partially control; the personal level.  In order to deal with their internal fear of the future they move into a denial mode and focus all their energy on the day to day tasks of, as the British say, “Carrying on.”

   For these people the message that things are going to get worse is too painful to process and act upon.  Many bloggers discussing the future emphasize the negative, and focus on the potential horrors.  They seem to believe that the more horrible a picture they can present, the more people they will shock into reality. This undoubtedly works with some people.  Unfortunately, I believe that for most people this only pushes them further into their denial.

Treebeard is correct in saying that some people are finally waking up to reality.  As the political and economic shenanigans become more and more outrageous some folk are beginning to step out of their fear and are attempting to focus on what is happening.  I am not sure that this will develop deeply or quickly enough to bring about positive change.

One of the things I like best about Peak Prosperity is that Chris and Adam, and most of the folk who come here on a regular basis do not dwell on the negative.  There is an underlying attitude of preparing to meet the challenges with as much intelligence and force of will as we can.  There is a sense of positive growth and development which is often stated with wit and humor. 


  • Sat, Aug 31, 2013 - 06:11pm



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    RT (Russia Today), Max Keiser, and Vladimir Putin

I also really enjoyed this interview, and I appreciate most of the relatively few RT (Russia Today) news stories that I have seen on the net.  

I also agree with almost everything that Max Keiser said during his interview with Chris, and I agreed with and appreciated what Chris said during the interview.  JT Walsh, I also agree that Keiser has a light sense of humor that makes it easier to process some of the potentially depressing issues that he covers.

On the other hand, the fact that RT is funded by the Russian government and therefore under the authority of Vladimir Putin gives me good motivation to listen to the stories with caution.  RT is the Voice of America, Russian style, and even though American news outlets are very good at propaganda in their own subtle but pervasive way, the Russians also have a long tradition of propoganda.

So, while the Keiser Report is often is a breath of fresh air for us in the United States, especially on topics such as gold, energy and the inconsistency or hypocrisy in U.S. foreign policy, the motivation of the entity that funds RT is not to create a world worth inheriting, but rather to rebuild Russia as a global superpower under the control of a select group of siloviki, i.e. current and former soldiers, police, spies and security agents, under the leadership of Putin.

In Russia, Putin does not encourage different perspectives in the media, but rather tightly controls Russian television, which is basically not allowed to criticize him.  Russia is also one of the most dangerous countries for journalists in the world, with the murder of Anna Politkovskaya on Putin's birthday in 2006 being only the most famous of many examples of the murder and beating of journalists critical of the Putin regime.

Also, the Putin is one of the most prominent world leaders who has denied global warming.  The reason I bring this up here, is because while Max Keiser may be concerned about the environment, Putin's regime is probably favors industrial and commercial development over environmental concerns more than most American Republicans.  I'm not saying that it's a crime to question global warming; everyone needs to form his/her own opinion.  But, RT focuses on environmental problems in the U.S. and England, while the same state-owned Russian media back in Russia does not focus on environmental problems there.  I would submit that this is because RT's goal is to promote Russian interests abroad, which includes poking holes in the image of the Western powers, and that Russian leaders are not spending a lot of time or energy formulating policies to protect the biosphere.

 I like media outlets that challeng overly nationalistic and/or unrealistic cornucopian views held by many in the United States and other Western powers, which is why I appreciate a lot of the perspectives aired on Russia Today.  But the fact that Putin is very likely sanctioning the murder and beating of journalists who question his own scripted narrative within Russia leads me to prefer other sources with alternative viewpoints, such as Democracy Now, as well as so many of the sources shared here on PP like ranging from ZeroHedge, to Arthur Robey's plethora of interesting links and YouTube videos.

Here are two Russian sources that do not follow Putin's script:

Andrei Soldatov's Open Democracy  (Soldatov is the author of The New Nobility, The Restoration of Russia's Security State and the Enduring Legacy of the KGB.)

and the Novaya Gazeta, the newspaper where Anna Politkovskaya worked before she was assassinated.  Politkovskaya wrote A Russian Diary: A Journalist's Final Account of a Country Going Backward and A Dirty War: A Russian Reporter in Chechnya

Again, I agree with everything that Chris said in this interview and it may be that RT is a good means to spread the very forward-looking analysis that he shares with us at Peak Prosperity, but it's also worth considering the context in which Russia Today reports the news.  

A while ago, I read somewhere that during the early days of the United States, most of the newspapers were printed by political parties.  According to that account, they were all very biased, but taken in summary, one could gather a somewhat accurate picture of many of the major issues of the time.  Now, especially in the U.S., we are very good at telling ourselves that our news media is not biased, althought here at PP, most of us seem to know better.  So, maybe a bunch of overtly biased sources is not a problem, especially if innovative messages such as the one that Chris shares are able to get more covarage through these.  At the same time, it may be helpful to identify the powers behind the source, whether a large American media corporation or the Russian government.  



  • Sat, Aug 31, 2013 - 06:45pm



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    Overwhelmed with goodness

As the gardening season is winding down hear in New England we are getting overwhelmed with food.  Pounds and pounds of it.  Acorns, Delicatas, Butternuts, Potatoes, tomatoes, broccoli, peppers, arugula, fennel, onions, hubbards, zucchinis(stem boarers still haven't got all of them), crook necks, blueberries (latest in the season I have ever picked them) and on and on.  And I'm a lousy gardener.

We make all our own compost, (grass clippings, leaves, and meadow cuttings), without the intense boost that you get from animal manures, things tend to start off a little slow, but I find they finish strong. With lots of organics in the soil, its soft crumbly and full of earth worms, teaming with life.  Do a little bit of weeding and watering, keep the fence intact and voila!  Raccons got about a third of our corn, but still we got a few dozens.  The generosity of natural systems.  There is enough!

I don't think that I am particularly focused or disciplined either.  I grew up in the same dysfunctional type family that most of us did.  Grew up in NYC, never had a garden till I was almost thirty.  But now we produce 50% more power than we use. Grow most of our own vegetables. The world wants us to succeed, I'm living proof. I'm just bungling along like everyone else.  This is not that hard.  Its such a small shift in perception and attitude and the whole world changes, everything shifts around you.

Thank god they are getting smaller in number by the week, but you still hear, "whats the payback period on that, bet its over 20 years". "Oh you have your own garden, doing that $50 a tomatoe thing?"  If I had showed up in a Hummer, nobody would ask, hey whats the payback on that?  Hey cool, can I go for a ride?  Prius drivers are so passive agressive.

Is Fukushima going to take out the northern hemisphere, will Syria be our Sarajevo, Bosnia leading to WWIII, who knows. But with every little possitive action, even something as small bying a local apple, sewing your own shirt, a smile and a hello, rather pushing ahead, we are one step closer to transforming the world.  So little goes such a long way.


  • Sat, Aug 31, 2013 - 11:31pm



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    Energy return from fracking.

This research claims an average ratio of 85 to 1 return of energy. Can someone give a link to the research that says more energy is put in than comes out. It would seem crazy for anyone to drill a well with that problem. It would be a money loser and never raise the funds to drill. Excuse my ignorance on this since I am only just beginning to research this since the EPA convinced me that there was not a large problem. Of course the money being made would tend to influence policy, also cheap nat gas and electricity are bringing industry back to this country. 

  • Sun, Sep 01, 2013 - 04:23am



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    Who can give us the “news”.

Hugh K, this response is for you but also for those who may have the same thoughts you expressed in your comments.  

First my curriculum vite:  Behind the Irish-Welsh surname I am half Polish.  Both of my mother’s parents came from Poland.  My mother, ever the radical, married an Irishman.  On her side of the family my cousins all spoke Polish at home and went to Polish elementary school.  We grew up Polish, Slavic, Catholic and very proud of those identities.  Russia and particularly the Soviet Union were not our friends.  We had cousins caught in the insanity of the Iron Curtain and the gulag. My grandparents had fled from a Poland dominated by the Russian empire.  My grandfather hated Roosevelt and Churchill because he believed they handed Poland to the communists at the Yalta conference. One of the greatest regrets in my life is that he did not live long enough to see Solidarity, John Paul II becoming pope, and the eventual release of Poland from its communist and soviet stranglehold.

I learned the Russian language in college.  I studied as much Russian history and culture as I could within the curriculum of a Modern European history major.  I continue to follow events in Poland and Russia to this day.  I have no illusions as to whom and what Putin is.  The stupidity of the western governments in dealing with him infuriates me.  They treat him as some sort of rebellious teenager who will someday mature to a proper and reserved place in society.  They refuse to acknowledge that the man represents a renewed threat to the west.  Instead of communist ideology, he is relying on Russian nationalism to call Russia, and all Slavic people, to a renewed position of power.  His objectives are to bring Europe into submission and to break what he sees as American hegemony.  He believes that only by doing these two things will he bring the Russian homeland to its rightful and secure place in the world.  The frightening thing is, that while there is an active and presently suffering dissent in Russia, many Russians, remembering their grandparents suffering in World War II and feeling humiliated by the fall of communism and the economic horror show that followed, are very much in favor of what Putin is attempting.

Getting to my ultimate point, it horrifies and humiliates me to know that I must depend upon RT to get news that the main stream media in this country refuses to put on the air waves.  I constantly complain to my wife, as I troll the web looking for news, that I must now depend on the God forsaken Russians and their propaganda mouthpiece, RT, to get accurate information about the economy and the world.  To me this is one of the greatest barometers of how far we have fallen.  The interview of Chris by Max Keiser will never be played on main stream media in this country.  Even though the information contained in the piece is crucial to Americans, the only place to hear it is on the web, or on RT.

The past couple of days I have been watching the coverage of the progression to war in Syria. Not one main stream media channel is taking a negative position.  They all appear to be cheer leaders trying to excite the American people about the prospects of making a “moral” statement against the use of chemical weapons.  Of course our “statement” will require more dead bodies and ruined infrastructure in Syria, without ending the present carnage.

Hugh K, I understand your concerns about RT. You are correct. They are a mouthpiece of the present Russian oligarchy.  Unfortunately, for those of us searching for truth, their publishing of stories our press will not touch, is often, the only way for us to approach the truth of what is happening in our economy and the world.

  • Sun, Sep 01, 2013 - 07:48am


    Arthur Robey

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    “They will make a difference as to whether we survive or not.”

Collectively we are only using one of our brains.

Dr Iain McGilchrist. (Of cause)

  • Sun, Sep 01, 2013 - 10:53am


    Chris Martenson

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    EROEI on Fracking


This research claims an average ratio of 85 to 1 return of energy. Can someone give a link to the research that says more energy is put in than comes out. It would seem crazy for anyone to drill a well with that problem. It would be a money loser and never raise the funds to drill. Excuse my ignorance on this since I am only just beginning to research this since the EPA convinced me that there was not a large problem. Of course the money being made would tend to influence policy, also cheap nat gas and electricity are bringing industry back to this country. 


There's not a lot of great research on the EROEI on fracking.  In fact, the only that I've seen is from Charlie Hall's graduate students, and it uses the money spent as a proxy for joules used.

Not great, but better than nothing.

Their results are an average EROEI for the Bakken play at around 12:1.

For NG plays, the EROEI might be as high as 20:1

But this is for the sweet spots…as we drill into the parts of the play that might have just half the EUR per well, then you might reasonably cut those numbers in half.

However, I am not really that trusting of the results, because money can be a very poor proxy for energy, but I suspect we could guess that their results are roughly correct…..

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