The Conservative Cave
Current Events => Economics => Topic started by: Ptarmigan on August 30, 2022, 10:01:08 PM
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The World’s Energy Problem Is Far Worse Than We’re Being Told
https://oilprice.com/Energy/Crude-Oil/The-Worlds-Energy-Problem-Is-Far-Worse-Than-Were-Being-Told.html
-Citizens around the world can sense that something is very wrong, and it looks like the economy may be headed for a serious recession in the near term.
-The operation of our economy requires energy of the correct type and the right quantity.
-The International Energy Agency and politicians around the world have recommended a transition to the use of renewables to try to prevent climate change for quite a few years.
No politician wants to tell us the real story of fossil fuel depletion. The real story is that we are already running short of oil, coal and natural gas because the direct and indirect costs of extraction are reaching a point where the selling price of food and other basic necessities needs to be unacceptably high to make the overall economic system work. At the same time, wind and solar and other “clean energy” sources are nowhere nearly able to substitute for the quantity of fossil fuels being lost.
This unfortunate energy story is essentially a physics problem. Energy per capita and, in fact, resources per capita, must stay high enough for an economy’s growing population. When this does not happen, history shows that civilizations tend to collapse.
Politicians cannot possibly admit that today’s world economy is headed for collapse, in a way similar to that of prior civilizations. Instead, they need to provide the illusion that they are in charge. The self-organizing system somehow leads politicians to put forward reasons why the changes ahead might be desirable (to avert climate change), or at least temporary (because of sanctions against Russia).
The energy problem is much worse than what is said by politicians. There is a recession happening and could get worse.