This is an important thing to realize, which is that (almost) all productivity everywhere in the globalized economy is really just an arbitrage between energy a

This is an important thing to realize, which is that (almost) all productivity everywhere in the globalized economy is really just an arbitrage between energy and labor prices. For the past ~200 years, if you could find a way to do some job with less labor by burning coal or electricity, you would do it and keep the gains. This is because energy has been extremely (some would say artificially) cheap the whole time. The only way to keep productivity anywhere near 20th/early 21st century levels going forward will be to arrange for this cheap energy to continue.