Just because a book makes a claim doesn't make it so. It is ridiculous to claim that you cannot have peaks or shortages because there's always a replacement - t

Just because a book makes a claim doesn't make it so. It is ridiculous to claim that you cannot have peaks or shortages because there's always a replacement - this is nonsense. The physics and chemistry involved is fixed. As a famous Scotsman once said, you cannee change the laws of Physics Jim. Economics and physics are not interchangeable. Sure, with certain kinds of economic utility you can interchange the underlying mechanisms used to achieve it, but with chemical reactions necessary to sustain life, as one example, you cannot just swap on a cheaper element. Likewise you cannot change the energy density characteristics and EROEI of supply on one material because petroleum is priced out. This is a fundamental misunderstanding of the science behind the problem.