the kaiser report i'm max keiser time now to go to san francisco and talk with richard heinberg author of many box including his latest the end of growth richard welcome to the kaiser report good to be with you max all right richard heinberg markets around the world are once again volatile once again credit is a vapid reigning tell south energy place and to have a chaotic peak debt scenario well you know economic activity ultimately depends on energy and raw materials we tend to forget that we think money makes the world go round but really when you get right down to it it's it's energy and raw materials so we've benefited from extraordinarily cheap concentrated energy sources for many decades really since the start of the industrial revolution but we have been extracting them using the low hanging fruit principle so even though there's still lots of oil coal and natural gas left in the ground. we're going toward lower and lower grade resources all the time that means more and more investment capital is needed in exploration and production. and that means the cost is increasing that's