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In my experince, private companies that go bust do not melt down their machines, they (the companies) are either bought wholesale out of bankruptcy by competitors, or their machines are.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Fri Feb 17th, 2012 at 04:26:48 AM EST
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The problem is less that they go bankrupt (although some do melt down their machines in that eventuality). The big problem is that they hang on for dear life for a while, trying to survive through cutting costs by cutting corners. There's no company more risk loving and short-termist than a company trying to paper over an insolvency.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Feb 17th, 2012 at 04:34:34 AM EST
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Hardly an overbearing problem. A little friction is to be expected in an economy based on creative destruction. The upside of the managed capitalist system is worth this little downside, by a very wide margin.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Fri Feb 17th, 2012 at 05:40:18 AM EST
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