Item of General Interest
July 25. I received notice today that an article I helped write is available for free download for the next fifty days. The corrected free link for the article is "An Oil Production Forecast for China Considering Economic Limits." The article discusses the possibility that oil prices may not rise endlessly, and evaluates three future price scenarios. Under the "low" scenario (prices remain under $50 per barrel), oil production in China has already peaked.
Category Archives: Introductory Post
Oops! Low oil prices are related to a debt bubble
Why is the price of oil so low now? In fact, why are all commodity prices so low? I see the problem as being an affordability issue that has been hidden by a growing debt bubble. As this debt bubble has … Continue reading
Why Standard Economic Models Don’t Work–Our Economy is a Network
The story of energy and the economy seems to be an obvious common sense one: some sources of energy are becoming scarce or overly polluting, so we need to develop new ones. The new ones may be more expensive, but … Continue reading
Posted in Financial Implications, Introductory Post
Tagged collapse, economic models, networked systems, oil price, oil substitution, peak oil
967 Comments
Oil Limits and the Economy: One Story, Not Two
The two big stories of our day are (1) Our economic problems: The inability of economies to grow as rapidly as they would like, add as many jobs as they would like, and raise the standards of living of citizens … Continue reading
Posted in Book draft, Financial Implications, Introductory Post
Tagged collapse, diminishing returns, oil limits, recession
489 Comments
Reasons for our Energy Predicament – An Overview
Quiz: What will cause world oil supply to fall? Too little oil in the ground Oil prices are too low for oil producers Oil prices are too high for oil consumers leading to recession, debt defaults, and ultimately a cut … Continue reading
Posted in Financial Implications, Introductory Post
Tagged Debt, economic growth, energy supply, M. King Hubbert, oil prices, oil supply, recession
434 Comments
Energy and the Economy–Basic Principles and Feedback Loops
Does a fish know that its nose is wet? Probably not. It swims in water, and assumes that is the only way any animal lives. We live in an economic world. Economic models that were developed years ago were created … Continue reading
