By Kevin Phillips

From America's most effective political analyst, an explosive exam of the axis of faith, politics, and borrowed funds that threatens to ruin the kingdom In his latest manhattan instances bestselling books, American Dynasty and Wealth and Democracy, Kevin Phillips proven himself as a strong critic of the political and fiscal forces which are ruling-and imperiling-the usa. Now, Phillips takes an uncompromising view of the political coalition, led by means of radical faith, that's using the US to the edge of catastrophe. From historical Rome to the British Empire, Phillips demonstrates that each global- dominating strength has been introduced down by means of a similar set of motives: a deadly blend of worldwide over- succeed in, militant faith, source difficulties, and ballooning debt. it truly is this similar axis of ills that has come to outline America's political and fiscal id some time past decade. army miscalculations within the heart East, the surge of fundamentalist faith, the incredible nationwide debt, the prices of U.S. oil dependence-together those components are undermining our nation's defense, solvency, and status on the earth. If left unchecked, an analogous forces will convey a debt- bloated, preachy, energy-starved the US to its knees. With a watch at the previous and a searing imaginative and prescient of the longer term, Phillips has written a booklet that no American can have enough money to disregard. compliment for Kevin Phillips and American Dynasty: "[Phillips] is a deep philosopher extraordinaire, who does a masterful activity of connecting the army- commercial dots. . . . A searing indictment of the Bush Dynasty." -Douglas Brinkley, mom Jones "Devastating . . . an immense, troubling booklet that are meant to be learn far and wide with care, nowhere extra so than during this city." -Jonathan Yardley, The Washington publish e-book international

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Additional info for American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century

Example text

Behind oil stood the rest of the corporate auto culture. S. corporations at midcentury, five manufactured vehicles (autos, trucks, ttactors) or their steel frames. Gasoline, oil, and the internalcombustion engine were kings of the road, and the world's best highway system was their palace parade grounds. If the oil industry in America had two seemingly placid golden decades, domestically and globally, they were the 1950s (especially) and the 1960s, despite gathering storm clouds. After 1970, oil nationalizations in the Middle East and the rise of OPEC wrote a new script: oil was to gain a degree of influence on the White House unimaginable in 1959 or 1965.

A short explanation of the "peak" concept is in order. Geologists define it as the point at which at least half of a field's reachable oil has been extracted. After this stage, getting each barrel out requires more pressure, more expense, or both. Output shrinks accordingly. After a while, despite nominal reserves that may be considerable, more energy is required to find and extract a barrel of oil than the barrel itself contains. By then, production becomes uneconomic-at least until the price of oil rises or the cost of extraction drops.

Moreover, when the pride and self-interest of the American automobile culture are added to the commerce of energy-as politically they must be-the balance of power has been as unmistakable as the torque of a 1970s Cadillac or the blessing of air-conditioning in summer traffic jams. Environmentalists raise a credible voice but usually a less influential one. Voters have come to expect cheap gasoline, electricity, and gas and oil heating-as well as the comfort, mobility, and personal independence that hydrocarbons facilitate.

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