littlebabyjesus
one of Maxwell's demons
If a genuinely cheap way of producing energy is found, and I think it will be within the next few decades, that will change how we think about many things.
I don't want to sound complacent here, because I don't dispute the broad thrust that running out of oil is a major challenge, but billions, and ultimately trillions of pounds will be invested in research into new sources of energy. And there are potentially some very promising leads – nuclear fission that leaves waste that degrades in decades rather than thousands of years, nuclear fusion is still not an impossibility, all kinds of improvements in photovoltaic cell technology, harnessing the power of waves, etc, etc. Even beaming energy down to earth that's been collected from huge solar panels in orbit around the planet (the Japanese are developing this one).
It is impossible to say what throwing billions of pounds at and dedicating the best brains to developing these leads could bring, but I think we can safely say that advances would be spectacular and many unforeseen. And who is leading the way with this research? China. They know they're fucked eventually if they can't replace coal. The west is way behind on this. But imagine what an Apollo-scale research programme could bring in terms of rewards.
If a genuinely cheap way of producing energy is found, and I think it will be within the next few decades, that will change how we think about many things.
Such as (what thoughts it changes rather than what tech can provide this)? Oil has been extremely cheap and practical, and it hasnt changed many things for the better in terms of attitudes, politics etc. Its changed living standards for the better in many cases. I think we'll be exceedingly lucky if we find anything that comes close to the easy & low price of oil,it really is stunningly cheap because we dont have to factor in the true cost, in terms of vast quantities of time and powerful natural forces that created these fossil fuels in the first place.
Maybe these times of crisis offer a moment where different alternative come onto the table.
Economic growth has exactly correlated with oil demand growth for the last 70 years. What would be the basis for it becoming decoupled now?Not to take issue with your wider point, but 2% economic growth doesnt necessarily equate to 2% oil demand growth.
There are many factors, but their aggregate effect is simple to anticipate. The unfunded pension liability is estimated by discounting all the future payments back to today at a discount rate of inflation plus 3.5%. The 3.5% comprises a 1.5% element to account for a preference for having benefits sooner rather than later, and a 2% element that assumes the 2.1% growth rate observed from 1950 to 1998 will continue indefinitely. In any case, we will see economic contraction not expansion, where a reduction in the growth estimate of only 0.5% is an increase in the shortfall of a further £2 trillion, so it's fairly academic.Also I doubt we can accurately tie growth rate to pension pot predictions, too many other factors.
I take your point that oil is exceedingly cheap really, but nonetheless, those who control its production effectively control the world. If an energy source is found that does not rely on the exploitation of natural resources in the same way, ownership of resources will not be such a lever of power. Depending on how such things are developed, they could be freed up for general use – there are people, especially among scientists, who believe more strongly in a general good than personal gain.
There are tons of possibilities – even exploiting the Casimir effect and mining energy literally from empty space – all a long way off, but with the appropriate resources aimed at them, possibly not as long as we might think: after all, the Industrial Revolution took only a few short decades to transform the UK. And such a revolution could – could – lead to a change in power relations between the elites and the rest of us.
Economic growth has exactly correlated with oil demand growth for the last 70 years. What would be the basis for it becoming decoupled now?
billions, and ultimately trillions of pounds will be invested in research into new sources of energy.
But imagine what an Apollo-scale research programme could bring in terms of rewards.
Economic growth has exactly correlated with oil demand growth for the last 70 years. What would be the basis for it becoming decoupled now?
There is no doubt at all that a prolonged crisis offers huge opportunity for change. The problem is that it can go in so many ways, pretty much every political stance other than what we've had for the last 30-40 years sees opportunity in this, or will do if/when things get bad enough.
The case can be made for all sorts of nice, progressive, sane ways for humans to organise & live in the face of these changes. But theres nothing to suggest thats what will actually happen. Its far, far too early to tell.
Personally I would recommend forgetting about the labels and half-understood ideologies, and get into the detail of how these alternatives would work, and what they would offer in the face of declining ability to produce stuff. Gotta learn how to make the case for certain things, labels & ideologies really should help but a lot have gone stale or been rendered meaningless, and get in the way.
And theres absolutely no need to wait or think about this stuff only in futuristic terms. Because for all we know the current economic woe is actually how peak oil will continue to manifest itself, we wont necessarily see overt shortages of specific oil-related products.
Economic growth can become decoupled from demand from oil by finding alternative sources of energy to oil, just as oil was an alternative to coal.
Taking a long-term perspective, and using the simple Energy/Gross Domestic Product (E/GDP) ratio, the amount of energy needed to produce a dollar's worth of goods and services in the U.S. economy fell by more than half between 1949 and 2004. The nation's output of goods and services, as measured by inflation-adjusted Gross Domestic Product (GDP), increased more than six-fold, from $1.63 trillion to $10.75 trillion over the period. Total energy consumption increased three-fold, from 32 Quadrillion British thermal units (QBtu) to slightly less than 100 QBtu. As a broad measure of energy intensity, the ratio of energy to GDP (E/GDP ratio) declined by 47% over this 55-year period. These long-term trends are illustrated by indexes, relative to 1985, in Figure 1 below.
This entire period, however, can be better understood by considering three sub-periods. In the period up to the Organization of Petroleum Exporting Countries (OPEC) oil embargo (1949 through 1973), total energy consumption generally grew slightly slower than GDP. Corresponding to this trend, energy intensity (measured by the E/GDP ratio), declined by 11%. The 1973-1974 oil embargo and subsequent price shocks of the late 1970s and early 1980s encouraged energy conservation and efficiency improvements in all sectors of the economy. Between 1973 and 1985, the E/GDP ratio decreased by 28%. Oil prices fell sharply in 1986, accelerating price declines in all fuels whose prices had peaked in the early 1980s. In spite of this development, after 1985 the E/GDP ratio has continued to decline, dropping another 26% by 2004. Translating these declines into annual average rates indicates that up to 1973, the E/GDP ratio declined at about 0.5% per year; between 1973 and 1985, it declined about 2.7% per year; and between 1985 and 2004, it declined 1.6% per year.
While this is an impressive record of achievement, the simple E/GDP ratio measure of energy intensity overstates the extent to which energy efficiency improvements have occurred in the economy, because factors that affect intensity that are unrelated to the efficiency of energy use are included in the ratio.
I like this idea that ideologies can go stale, that there can be confusion around terminology, ideas get debased. I tend to see things in my own way and then wonder why everyone else doesn't agree with that point of view that seems obvious to me. Interesting. I can only go hmmmmm.
Im pretty sure Ive read stuff about things changing on that front after the 1970's oil crisis...its quite possible that we did a lot of the easy stuff back then and are left with all the harder decoupling work to do now.
Also the internet & digital products are far less tied to oil.
If I were in charge, Id be starting with some real basics. The housing stock in this country is not fit for purpose. Homes can be made that need negligible fuel to keep at liveable temperatures. We must change that. But this demonstrates one of the problems of timescale I talked about earlier. We need time to replace this stuff, a lot of our wealth is trapped in infrastructure etc that could rapidly fail to meet even our basic needs, and we cant change it overnight. If we dont get on with it, and in a more substantial way than is currently proposed, then we are left reliant on developments that may never arrive and then there is going to be a very large human horror highscore.
What billions and trillions of pounds? We are currently printing trillions of virtual dollars simply to maintain the solvency of the existing ones ...
An Apollo-scale research programme, and the massive build out programme that it (might) lead to, would require massive quantities of energy. Our power system is now at full output, yet our economy is barely functioning. Which parts of the global economy do you feel it will be safe to switch off to allow the necessary power to be diverted to such a programme?
Yes, I agree. And we haven't even started politically to face up to the changes in our way of life that such changes would necessitate, such as the assumption that we can travel where we want, eat what we want when we want, etc. I have no illusions that it will take nothing short of major catastrophe to provide this will.
I want humanity to explore space not go back to the stone age on a dying planet
. . . There is already massive slack – one third of US taxpayer dollars goes on the military. There's the slack right there. . . .
The details of the exact oil-related motives for the Iraq war are still well open to debate. It probably wasnt the simplified idea of control over Iraqs oil that some would think, nor was it a means to gain significant control over OPEC.
the god of growth is, at the very least, unwell, and is quite possibly dead already.
can we* build a socialist-libertarian (i.e. anarchist society) in the face of peak oil[?]