Item of General Interest
July 11. I recently received word that an article that I am a co-author on was accepted by the academic journal "Energy." The name of the article is "An Oil Production Forecast for China Considering Economic Limits." The article talks about the possibility that oil prices may not rise endlessly, and evaluates three future price scenarios. Under the "low" scenario, which is the under $50 per barrel scenario, oil production in China has already peaked.
Tag Archives: debt defaults
What is ahead for 2016? Most people don’t realize how tightly the following are linked: Growth in debt Growth in the economy Growth in cheap-to-extract energy supplies Inflation in the cost of producing commodities Growth in asset prices, such as … Continue reading
Economists have put together models of how an economy works, but these models were developed years ago, when the world economy was far from limits. These models may have been reasonably adequate when they were developed, but there is increasing … Continue reading
The traditional understanding of supply and demand works in some limited cases–will a manufacturer make red dresses or blue dresses? The manufacturer’s choice doesn’t make much difference to the economic system as a whole, except perhaps in the amount of … Continue reading
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
What is really wrong with our energy system, particularly as it relates to electricity and natural gas? Are there any mitigations available? I have been asked to give a talk at an Electricity/Natural Gas conference that includes both producers and … Continue reading