Twitter Digest: 2011-08-06


  1. Wappledoo says:

    That "economics of peak oil" paper is interesting, but I think it still misses the key point of what it refers to as "peak oil literature." Whether you want to talk about how extraction rates will decline at constant extraction costs, or instead talk about the increases in extraction costs necessary to keep up with demand, either way you're talking about the same problem. The problem is that the "easy" oil fields are all nearing their declines in extraction rates, and it in order to maintain the current rates (or increase them to meet demand), you'd have to increase prices in a way that destroys demand and causes recessions. I.e., an "undulating plateau" with a downward slope.