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Productivity is simply putting more machines at work for every person. More machines require more energy and resources. Since 1973 (and even 1971, remember when
by wazoox 4y ago
Productivity is simply putting more machines at work for every person. More machines require more energy and resources. Since 1973 (and even 1971, remember when the US reached peak oil and immediately removed the peg between the dollar and gold?), energy consumption growth has been limited by different, compounding factors. Peak conventional oil occurred in 2008. Peak oil (all liquids) is announced for 2018-2025 (maybe already occurred, time will say). Peak gas is coming in the 2030s. The great slid down is ahead, and it won't be pretty.