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Strategies & Market Trends : The coming US dollar crisis
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To: Wyätt Gwyön who wrote (23719)10/22/2009 1:08:09 PM
From: benwood1 Recommendation  Read Replies (3) of 71406
 
It wasn't exactly a 'glaring omission' -- I said this:

"I think the vast majority of our wealth today is because of cheap energy."

I thought it was kind of obvious I meant petroleum and not e.g. whale oil. <g>

I think that our entire civilization is propped up by cheap energy -- oil (and natural gas), for now. Things will change as the cost goes up and the available supply becomes constrained. Like James Kunster says, the entire suburbia model will shrink dramatically. The model where I get oranges from Australia will collapse as well.

Fossil fuels being a finite resource is also why I don't get too concerned about the carbon in the atmosphere -- we will peak out soon, I think, and the carbon level will decline on it's own.
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