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Tag Archives: peak oil
Today’s Energy Crisis Is Very Different from the Energy Crisis of 2005
Back in 2005, the world economy was “humming along.” World growth in energy consumption per capita was rising at 2.3% per year in the 2001 to 2005 period. China had been added to the World Trade Organization in December 2001, … Continue reading
The world has a major crude oil problem; expect conflict ahead
World crude oil production has been falling behind needed levels since 2019. This problem, by itself, encourages the world economy to contract in unexpected ways, including in the form of economic lockdowns and aggression between countries. This crude oil shortfall seems likely to become greater in the years ahead, pushing the world economy toward conflict and the elimination of inefficient players. Continue reading
Posted in Financial Implications, oil shortages
Tagged Food prices, Iran oil supply, oil prices, peak oil
4,255 Comments
Where Energy Modeling Goes Wrong
There are a huge number of people doing energy modeling. In my opinion, nearly all of them are going astray in their modeling because they don’t understand how the economy really operates. The modeling that comes closest to being correct … Continue reading
Posted in Financial Implications
Tagged complexity, diminishing returns, EROEI, oil price, peak oil
3,331 Comments
2020: The Year Things Started Going Badly Wrong
Some might describe the energy story as a “diminishing returns” story, but it’s really broader than this. It’s a story of services that we expect to continue, but which cannot continue without much more energy investment. It is also a story of the loss of “economies of scale” that at one time helped propel the economy forward. Continue reading
Posted in Financial Implications
Tagged collapse, Covid-19, diminishing returns, economic growth, peak oil
2,805 Comments
Today’s Energy Predicament – A Look at Some Charts
Today’s energy predicament is a strange situation that most modelers have never really considered. Let me explain some of the issues I see, using some charts. [1] It is probably not possible to reduce current energy consumption by 80% or … Continue reading
Posted in Financial Implications, Introductory Post
Tagged energy demand, low oil price, oil price, peak oil
2,368 Comments
