James Howard Kunstler: Peak Oil and Our Financial Decline

James Howard Kunstler: Peak Oil and Our Financial Decline

James Howard Kunstler: Peak Oil and Our Financial Decline

James Howard Kunstler discusses how finance and energy are running neck and neck to fuel the end of advanced industrial civilization.

Copy Link
Facebook
X (Twitter)
Bluesky
Pocket
Email

In this fourth video in the series “Peak Oil and a Changing Climate” from The Nation and On The Earth Productions, author, blogger and social critic James Howard Kunstler opens up on two circumstances he sees running neck and neck “that are going to put us out of business as an advanced industrial civilization”—the “fiasco” in banking, money and finance and the unfolding “energy predicament.” He explains that the crises are really all about "capital" and that we need to look at how wealth has been accumulated and deployed for productive purposes.

Kunstler suggests that “cheap abundant energy” has facilitated ever-increasing industrialization for centuries. But now that society is in a period of self-destructive capital accumulation, he expects debt to increase as abundance in energy drops. The tremendous amount of accumulated debt, “a by-product of cheap abundant energy,” will mean that in the future governments will be less able to make investments in socially-beneficial programs.

He also criticizes the US environmental movement for shying away from the problem of energy. The movement is unable to talk about walkable neighborhoods, smaller cities or investing in rail or water transit,  an “intellectual failure of the culture to have a coherent conversation from people who ought to be leading” such a conversation.

Go here to learn more about "Peak Oil and a Changing Climate," and to see the other videos in the series.

—Kevin Gosztola

Support independent journalism that exposes oligarchs and profiteers


Donald Trump’s cruel and chaotic second term is just getting started. In his first month back in office, Trump and his lackey Elon Musk (or is it the other way around?) have proven that nothing is safe from sacrifice at the altar of unchecked power and riches.

Only robust independent journalism can cut through the noise and offer clear-eyed reporting and analysis based on principle and conscience. That’s what The Nation has done for 160 years and that’s what we’re doing now.

Our independent journalism doesn’t allow injustice to go unnoticed or unchallenged—nor will we abandon hope for a better world. Our writers, editors, and fact-checkers are working relentlessly to keep you informed and empowered when so much of the media fails to do so out of credulity, fear, or fealty.

The Nation has seen unprecedented times before. We draw strength and guidance from our history of principled progressive journalism in times of crisis, and we are committed to continuing this legacy today.

We’re aiming to raise $25,000 during our Spring Fundraising Campaign to ensure that we have the resources to expose the oligarchs and profiteers attempting to loot our republic. Stand for bold independent journalism and donate to support The Nation today.

Onward,

Katrina vanden Heuvel

Editorial Director and Publisher, The Nation

Ad Policy
x