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Economics of oil

Conflict/Dispossession

Neoliberalism or death: The U.S.’ economic war against Venezuela

21st February 2019

Once the richest country in Latin America, today Venezuela lies in shambles, with food and medicine inaccessible to most, and sparking widespread protests and massive violence. In this interview, Venezeulan President Nicolás Maduro speaks on the politics behind the crisis, and specifically the role of the U.S. Also, an analysis by Marxist scholar Vijay Prashad….

Development/Growth

Nafeez Ahmed: This is how UN scientists are preparing for capitalism’s demise

19th December 2018

From The Independent: Capitalism as we know it is over. So suggests a new report commissioned by a group of scientists appointed by the UN secretary general. The main reason? We’re transitioning rapidly to a radically different global economy, due to our increasingly unsustainable exploitation of the planet’s environmental resources and the shift to less efficient energy sources….

Development/Growth

Red Alert: India and world hurtling towards financial meltdown

4th October 2018

Ten years after the global financial crisis, a debt-fuelled world economy is headed towards another crash, the IMF has warned. With the Rupee at a record low, unemployment at a 20-year high, and 78 of its largest corporations defaulting on massive debts, India’s rapidly emerging as the epicentre of a crisis that could dwarf 2008….

Consumerism/Lifestyle

Gail Tverberg: Our energy problem is about quantity, not just quality

31st May 2018

Reading about energy today, it’s easy to get the impression that our energy problem is a quality problem—some energy is polluting; other energy is hoped to be less polluting. There’s a different issue that we are not being told about. It’s the fact that having enough energy – quantity – is extremely important, as well….

Mural by 'Green Flower'

Culture/Cognition

Ecologise Foundation course in Energy and Energetics of Nature and Human Society

9th February 2018

Most courses on energy deal with it in an instrumentalist manner, as if it were another substance that humans can tap and use for their benefit. Platform for Sustainability and Equity and Ecologise are pleased to announce an online course that places energy at the centre of all transformations— abiotic, biotic and in human society….

Development/Growth

Gail Tverberg: Nine reasons why globalisation can’t be permanent

4th February 2018

We know that economies need to grow, or they collapse. The wage disparity that high-wage countries have been experiencing in recent years is evidence that the world economy is already reaching energy limits. There are no longer enough jobs that pay well to go around. Any drop in energy supply will likely worsen the situation….

Author’s view of the situation we are facing. World leaders look at their video screens and adjust their controllers to try to make the world economy fly at ever-higher levels.

Gail Tverberg

Conflict/Dispossession

Understanding the world’s economy-energy conundrum as a video game

8th December 2017

Gail Tverberg writes: World leaders manipulate the world economy like a giant video game. The object is to keep it growing, but what do they do when the economy hits limits? They could take their foot off the throttle operated by low interest-rates and more debt. Or they could “take the wings off” the economy….

Culture/Cognition

Why political correctness fails – Why what we know ‘for sure’ is wrong

29th September 2017

Gail Tverberg writes: The Politically Correct (PC) worldview has been called the “religion of success”. In this post, I explain why many popular (or politically correct) understandings are just plain wrong. I cover many controversial topics, including environmentalism, peer-reviewed literature, climate change models, and yes, religion. I expect that the analysis will surprise almost everyone….

Development/Growth

Nafeez Ahmed: Inside capitalism’s slow-burn energy collapse

2nd September 2017

New scientific research is quietly rewriting the fundamentals of economics, showing decisively that the age of endlessly growing industrial capitalism, premised on abundant fossil fuel supplies, is over. The long-decline of capitalism-as-we-know-it, the new science conclusively shows, began some decades ago, and is on track to accelerate well before the end of the 21st century….

Economy

Gail Tverberg: The next financial crisis is not far away

9th August 2017

We should expect financial collapse quite soon – perhaps as soon as the next few months. Our problem is energy related, but not in the way most experts have claimed. It’s much more related to the election of President Trump and to the Brexit vote. Most people don’t understand how interconnected the world economy is….

ALTERNATIVES

Module 2: Energy – Fossil Fuels And Our Future

28th July 2017

Ecologise has consistently driven home that humanity needs to prepare for unprecedented environmental, economic and socio-political upheaval and uncertainty in the 21st century. In this new series, we showcase free short-duration online courses that focus on these various emerging crises and possible responses. Created by the world’s leading universities, they offer a good starting point to explore these complex challenges….

CLIMATE CRISIS

Gail Tverberg: Twelve reasons why globalisation is a huge problem

24th March 2017

Globalization seems to be looked on as an unmitigated “good” by economists. Unfortunately, they miss the point that the world is finite. We don’t have infinite resources, or unlimited ability to handle excess pollution. So we’re setting up a “solution” that is at best temporary. Here’s why globalization is, in fact, a very major problem….

ALTERNATIVES

Gail Tverberg: The “wind and solar will save us” delusion

26th February 2017

Somehow, most people seem to believe that our economy of 7.5 billion people can get along with a very short list of energy supplies. Given climate change, this short list cannot include fossil fuels, but we believe Wind and Solar can save us. Unfortunately, a transition to such alternative fuels can’t really work. Here’s why….

Bookshelf

Brace for the coming oil, food and financial crash

29th January 2017

Nafeez Ahmed writes: A new research study by HSBC on global oil supply shows that the bulk of the world’s oil production has peaked and is now in decline. Welcome to a new age of permanent economic recession driven by our ongoing dependence on dirty, expensive, difficult oil — unless we choose a fundamentally different path….

Education/Awareness

Richard Heinberg: The Peak Oil President?

21st January 2017

The final stages of capitalism, Marx predicted, would be marked by global capital being unable to expand and generate profits at former levels. Capitalists would begin to consume the government along with the physical and social structures that sustained them. These assaults would destroy the host. This final stage of capitalism is what Trump represents….

Economy

2017: The year when the world economy starts coming apart

19th January 2017

Gail Tverberg writes: Underlying problems are sufficiently severe that we seem to be headed for a crisis far worse than 2008. Our fundamental problem is that neither high nor low energy prices are now able to keep the world economy operating as we’d like it to. Increased debt can’t seem to fix the problem either….

Economy

Gail Tverberg: The energy problem behind Trump’s election

28th December 2016

To try to solve the energy problem, we use approaches that involve increasing complexity, including new technology and globalization. As we add more and more complexity, these approaches tend to work less and less well. In fact, become problems themselves, tending to redistribute wealth toward the top, increasing “overhead” for the economy as a whole….

Economy

Gail Tverberg: How Peak Oil was misunderstood

29th August 2016

Instead of the scenario envisioned by many Peak Oilers, it’s likely that we will in the very near future hit a limit similar to the collapse scenarios that many early civilizations encountered when they hit resource limits. We don’t think about our situation as being similar, but we too are reaching decreasing resources per capita….

Economy

Debt: The key factor connecting energy and the economy

7th June 2016

Gail Tverberg writes: Growth in energy consumption is dependent on the growth of debt. Both energy and debt have characteristics that are close to “magic” when it comes to economic growth, which can only take place when debt (or a close substitute, such as company stock) is available to enable the use of energy products….

Economy

Gail Tverberg: Energy limits – what most researchers have missed

16th May 2016

The common assumption has been that the world will eventually “run out” of oil and other non-renewable resources. Instead, we seem to be running into energy surpluses and low prices. The real situation is that as prices rise, supply tends to rise as well, because new sources of production become available at the higher price….