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General Discussion / Re: Energy Errata
« Last post by FarmGirl on March 31, 2023, 11:53:54 am »Buying of gas will be observed by circling buzzards long after it becomes unobtainable to an average Joe. Then the infrastructure to get it will totally break down and we will have collapse 2.0. Like a release of Windows. Collapse 1.0 will do in billions before the total breakdown. Collapse 2.0 will follow 1.0 quickly. The road to ruin is rapid.
Unobtainable is the scarcity perspective, yes. But the economic concept is high prices precede those buzzards, scarcity causing conservation and substitution, which then alters the supply/demand relationship and hence price. RE knows economics and is familiar with this intermediate step from that perspective, can probably ponticate at length on it, would be interesting to hear how someone familiar with the social science in question rearranges the pieces. All of this is pre-buzzard of course. Which makes the realistic and just as interesting non-collapse question....how fast can the subsitution and conservation take place, and does the resultant price from that relationship cause unobtainable for average Joe, or just, you know, expensive? Like happened in the 70's. That was worse than hypothetical unobtainable from hypothetic peak oils, it was ACTUAL unobtainable because rationing occurred, as well as an actual global peak oil in 1979. Peak oil 2005 didn't cause anything like that level of dislocation. Prices did go up though, but contradicting that evidence is that peak oil also occurred in 2018 and prices didn't do much of anything, until European geopolitical events disturbed the markets.
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