The Decline and Fall of the Roman EmpireThe Roman Empire failed as a result of a food crisis, made worse by efforts to control it. Seems similar.
As we celebrate our foresight to own Suncor and other producers during this bull oil market, the high cost of energy is creating much higher costs in food production. Fertilizers, planting, harvesting, shipping, and affordability are putting us on a similar path.
Throw in a few more black swan events like war, climate change, pandemic, and who knows whats next, and we may be going the way of the old Romans.
Here's an excerpt written 240 years ago in 1781 that I found interesting, and gives us something to think about, in the oil markets.
We subsidize some with fuel caps, while penalizing others with carbon taxes. We sanction some, while allowing others to buy, refine, and sell it back to us at hefty profits. We restrict production in our own country, yet purchase from brutal regimes.
Those that fail to learn from history are bound to repeat it.
