Item of General Interest
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Category Archives: Financial Implications
The energy needs of the world’s economy seem to be easy to model. Energy consumption is measured in a variety of different ways including kilowatt hours, barrels of oil equivalent, British thermal units, kilocalories and joules. Two types of energy … Continue reading
The reasons why the Green New Deal won’t really work are fairly subtle. A person really has to look into the details to see what goes wrong. In this post, I try to explain at least a few of the … Continue reading
Many people are concerned that we have an oil problem. Or they are concerned about recession and the need to lower interest rates. As I see the situation, we have a problem of a networked economy that is not functioning … Continue reading
We often hear the statement, “When oil supply is lower, oil prices will rise because of scarcity.” Now, we are getting to see firsthand whether oil prices really do rise, as oil supplies become more scarce. Figure 1 shows that … Continue reading
Economists tell us that within the economy there is a lot of substitutability, and they are correct. However, there are a couple of not-so-minor details that they overlook: There is no substitute for energy. It is possible to harness energy … Continue reading