The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
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Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#2I still personally believe that the real underlying truth of "peak oil" was that as lower EROEI sources replaced higher ones, even though we would be able to grow the total number of barrels per day, the net-energy provided to drive the economy from those barrels would(is) plateau(ing). Everyone who points to fracking (or even worse tar sands) as a disproof of peak oil never understood the underlying argument about how the "economy" is effectively our word for total/net energy consumption and a fracked barrel of oil provides vastly less energy to the system.
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#3I still personally believe that the real underlying truth of "peak oil" was that as lower EROEI sources replaced higher ones, even though we would be able to grow the total number of barrels per day, the net-energy provided to drive the economy from those barrels would(is) plateau(ing). Everyone who points to fracking (or even worse tar sands) as a disproof of peak oil never understood the underlying argument about h…
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Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#4I still personally believe that the real underlying truth of "peak oil" was that as lower EROEI sources replaced higher ones, even though we would be able to grow the total number of barrels per day, the net-energy provided to drive the economy from those barrels would(is) plateau(ing). Everyone who points to fracking (or even worse tar sands) as a disproof of peak oil never understood the underlying argument about h…
If you think about it, a lot of the arabian/russian/corupt oligarchs money from oil were spent in ludicrous ways, like luxury beyond belief. The economy is getting less value from a fracked barrel, but those money are spent more wisely, returning back into the industry. This is not just sticking a pipe in the ground anymore, we are advancing our tech by using fracking. This is a new economic engine, maybe it's not as big as the free oil, but it's something.
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#5Past Chinese growth has set expectations too high. It is ridiculous to point to a 6.6% growth rate and say it is low.
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#6So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere.
Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth.
The question for me is: how can we have infinite growth on a planet with limited resources?
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#7In my opinion a deflation is what the world and especially the nature needs. People have to stop wasting our limited resources.
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#8So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere. Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth. The question for me is: how can we have infinite growth on a planet with limited resources?
Technology? Well not infinite but up to the point of a dyson sphere.
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#9I still personally believe that the real underlying truth of "peak oil" was that as lower EROEI sources replaced higher ones, even though we would be able to grow the total number of barrels per day, the net-energy provided to drive the economy from those barrels would(is) plateau(ing). Everyone who points to fracking (or even worse tar sands) as a disproof of peak oil never understood the underlying argument about h…
If you think about it, a lot of the arabian/russian/corupt oligarchs money from oil were spent in ludicrous ways, like luxury beyond belief. The economy is getting less value from a fracked barrel, but those money are spent more wisely, returning back into the industry. This is not just sticking a pipe in the ground anymore, we are advancing our tech by using fracking. This is a new economic engine, maybe it's not as…
It's an interesting thought; I think you'd also have to look at the absolute dollar amounts of "luxury spend vs. capital/research reinvestment" to get the full picture. (Since the actual benefits accrued to society are proportional to the absolute spend on R&D).
Also, is R&D in fracking transferable? Or is it just tech that will be irrelevant in 20-30 years? (I don't have a good picture on this one; I could see a reasonable argument that we will be using natural gas for a long time, even when we're a mostly-renewable economy, since it's a convenient-to-transport form of energy as LNG).
Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut
#10So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere. Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth. The question for me is: how can we have infinite growth on a planet with limited resources?
Technology? Well not infinite but up to the point of a dyson sphere.
What massive efficiencies have technology brought us lately? I count ... fracking as a real improvement. That's it!