News stories on the economy are full of many subjects that would have seemed strange to American readers just a few years ago – European banking, the developing world, clever financial instruments, and so on. There is one word that is strangely absent, however – “Recovery”. This once prominent term has apparently been banished from reporting, possibly because no one believes that there is such a thing anymore.
That’s not to say there won’t be a Recovery, but as is typical of a credit-meltdown fueled Depression there has to be a Restructuring first. Money and labor and all the other resources you can name have to start going into areas that are going to be productive in the new economy that replaces the one that crashed and burned back in 2008. Barataria has led some discussion on how jobs appear to be shifting rapidly, a sign of Restructuring, but there are some fascinating things happening that show how much our world is changing.
Some of those stories come from the world of oil, the mysterious black gunk that fuels the world.