Sliding Down the Oil Slope

Reblogged from Gail Tverberg’s Our Finite World:

http://ourfiniteworld.com/2013/12/18/th-real-oil-extraction-limit-and-how-it-affects-the-downslope/

Gail understands and explains both complex systems and the deficiencies of conventional economics, which treat the earth’s irreplaceable resources as inputs which can be costed and substituted with other inputs. Conventional economics doesn’t recognise that the air we breathe can’t be substituted, neither can the soil in which crops grow, nor the oceans in which aquatic life used to teem, nor the aquifers holding fresh water under land. As for fossil oil and gas, products of millions of years of solar energy, how clever to burn them in a few decades!

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