Tag Archives: oil prices

Russia’s attack on Ukraine represents a demand for a new world order

Posted on March 2, 2022 by Gail Tverberg

Russia’s attack on Ukraine represents a demand for a new world order that, over the long term, will support higher prices for fossil fuels, especially oil. Such an economy would probably be centered on Russia and China. The rest of the world economy, to the extent that it continues to exist, will largely have to get along without fossil fuels, other than the fossil fuels that countries continue to produce for themselves. Population and living standards will fall in most of the world. Continue reading →

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The Afghanistan Fiasco (and Today’s High Level of Conflict) Reflect an Energy Problem

Posted on August 30, 2021 by Gail Tverberg

The way energy limits play out is not at all intuitive. Most people assume that we will run out of oil, leading to a spike in oil prices. We will then transition to renewables. As I see it, this understanding is completely wrong. Limited energy supply first leads to a need for simplification: Stepping back from Afghanistan would be one such type of simplification. It would save energy supplies and reduce the need for greater tax revenue or added debt. Continue reading →

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Don’t expect the world economy to resume its prior growth pattern after COVID-19

Posted on May 27, 2021 by Gail Tverberg

Most people seem to think that the world economy is going through a temporary disruption, caused by a novel coronavirus. As soon as COVID-19 goes away, they expect the economy will be back to normal. I think that this assessment is overly optimistic. The way I see the situation, the world economy was already having severe growth problems, caused indirectly by resource problems, even before COVID-19 hit. Continue reading →

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COVID-19 and the economy: Where do we go from here?

Posted on June 25, 2020 by Gail Tverberg

The COVID-19 story keeps developing. At first, everyone listened to epidemiologists telling us that a great deal of social distancing, and even the closing down of economies, would be helpful. After trying these things, we ended up with a huge … Continue reading →

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Our Energy and Debt Predicament in 2019

Posted on September 12, 2019 by Gail Tverberg

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 →

Posted in Financial Implications | Tagged , , , , | 1,325 Comments