In a previous post titled “The Soft Belly of the Oil Industry“, I mentioning the impending unlocking of numerous negative feedbacks affecting the oil industry. I argued that the gradual increase of production costs, the need of reducing emissions, the weakened demand created by the electrification of transport, and more were going to take the industry on a ride along the “Seneca Cliff.” Here, Geoffrey Chia goes beyond that, arguing that the negative feedbacks generated by a collapsing oil industry will affect the whole economic system. It may be pessimistic as an interpretation, but it is a perfectly possible chain of events.
Why the impending curtailment of Conventional Oil will lead to Total Energy curtailment and Total Resource curtailment
Outside of Medicine I am an expert in nothing*. In depletion matters I defer to the resource and energy experts such as Professor Ugo Bardi and Alice Friedemann who have conducted painstaking research and performed exhaustive quantitative analyses to arrive at robust conclusions. My main use, if I have any use at all, is to transmit important concepts from the experts to the general public in a qualitative manner, sometimes using my own original visual metaphors and bad jokes, which may hopefully facilitate better understanding by the lay audience. I also tend to view these issues through a medical lens in terms of diagnosis, prognosis and management planning, my aims being to prevent or minimise human morbidity (suffering) and mortality (premature death). Unfortunately due to gross overshoot, humanity are now well past any hope of cure and we are now into the phase of palliative care of a terminally ill industrial civilisation.
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