Well, that's the argument from Dmitry Orlov. You need to read the whole article, but this short quote sums it up:
When faced with insufficient domestic oil production, an industrialized country has but two choices:Needless to say, it's at the "doomer" end of the spectrum, but it's difficult to argue with the points made, sadly...
1. Import oil
2. Collapse
But when faced with insufficient global oil production, an industrialized planet has just one choice: Choice Number 2.
Mike
Hey Mike, I tried to put some real numbers to that "rosy scenario" here: http://crash-watcher.blogspot.com/2010/09/shape-of-oil-decline.html and here: http://crash-watcher.blogspot.com/2010/09/shape-of-oil-decline-continued.html, by considering the export-land model. I thought that it might interest you.
ReplyDeleteRegards, c-w
Thanks C-W, these graphs are always scary, and should be an alarm call to anyone looking at them!
ReplyDeleteMike