Reply #43: Agree. The Thermodynamic Aspect Is What Most Do Not Grasp

[Strelnikov_]

Peak oil is primarily an economic event. Demand for a price inelastic commodity chasing too little, and eventually declining, supply. Price transients will wreak economic havoc similar to the 70' shocks.

As the decline in conventional oil accelerates, EROEI (thermodynamics) will destroy capitalist economies.

All of the post-peak supply mitigation options have net energy returns well below those of even today’s conventional oil. This means we will have to work hard just to replace the Quads of conventional oil energy lost. Growth in energy supply will not be possible, therefore economic growth will also not be possible.

Of course, most will react to this by saying peak oil is just a corporatist conspiracy, or will be solved by conservation, or the market will find a solution. The standard talking points.

Thing is, I have done the reading, have a technical background, have some coursework in economics. I feel the theory the projections are based on are sound. My conclusion is that we had better get our head and our ass wired together quick, or peak oil is going to take a giant shit on us.

If someone does the reading and comes to a different conclusion, so be it. Nothing is certain, except death and taxes (unless you’re rich in America).