Saturday, August 27, 2011

Wash, rinse, repeat

I just finished reading about Our Oil-Constrained Future and was struck by the following statement:
If this model is accurate—and if the ceiling on global oil production really is around 90 mbd and can be expanded only slowly—it means that every time the global economy starts to reach even moderate growth rates, demand for oil will quickly bump up against supply constraints, prices will spike, and we'll be thrown back into recession. Rinse and repeat.
So our economic future, perhaps the global economy going forward, depends upon alternative energy. You'd think the leaders in Congress who are most concerned with economic growth might be in favor of this?  You'd be wrong.
They have more important constituents to look after.

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