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We should talk more about the frame in which this "economy" is having ups and downs. That frame is cheap fossile energy. It's about to collapse.
by maelito 8y ago
We should talk more about the frame in which this "economy" is having ups and downs. That frame is cheap fossile energy. It's about to collapse.
- AnimalMuppet 8y agoFirst, it's been about to collapse for decades. We keep being about to run out of oil. For my part, I think there's a lot more fracking that will happen if the price rises much farther. Oil therefore may rise a bit, but will continue to be available at a non-ruinous price (speaking purely economically here). Second, renewables are close to being able to take significant load off of fossil fuels. Already coal use is declining (at least in America), and not because coal got scarce or expensive.