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It's kind of like peak oil. It's the price, not the amount. So 'peak oil' isn't completely wrong, it's just complicated. --- > I think it's still a very cool
by csours 3y ago
It's kind of like peak oil. It's the price, not the amount. So 'peak oil' isn't completely wrong, it's just complicated.
---
> I think it's still a very cool factoid, but the subtext that "the whole world economy 'hinges' on a teeny NC town" --is false.--
is oversimplified to the point of being misleading.
- samatman 3y agoPeak oil is defined in terms of production. When total global production decreases, the moment of maximum production will be peak oil. Unless of course it's later exceeded, which could easily happen. Why this will happen, when this will happen, and what the economic consequences will be, we can only speculate about. But it's the amount, not the price.
- Turing_Machine 3y agoYou are correct, of course. However, most of those using the "peak oil" scare tactic try to pretend that once "peak oil" is reached, there will be a sudden and drastic drop in oil production. I think that's what the person you're responding to was alluding to.