It's probably overdetermined, but I suspect that peaking fossil fuels and a subsequent deceleration in energy entering the economic system play an underapprecia

It's probably overdetermined, but I suspect that peaking fossil fuels and a subsequent deceleration in energy entering the economic system play an underappreciated role. To give context: Hubbert's peak, which is generally considered the most reliable predictor of fossil fuel extraction curves, predicted a peak for the US in 1970 and the world in 2010. Allow 2 years margin of error on either side and it lines up very closely with the advent of stagflation in both systems.