Website review: The Oil Drum | At $100 Oil - What ...
laodan discovered this in Energy Industry
•1 reviews since Jan 4, 2008
energy-industry
•theoildrum.com/node/3412
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laodan discovered 4 months ago- At $100 Oil - What Can the Scientist Say to the Investor? in The Oil Drum by Nate Hagens
While we are used to thinking about the economy in monetary terms, those of us trained in the natural sciences consider it equally valid to think about the economy and economics from the perspective of the energy required to make it run. When one spends a dollar, we do not think just about the dollar bill leaving our wallet and passing to some one else. Rather, we think that to enable that transaction, that is to generate the good or service being purchased, an average of about 8,000 kilojoules of energy (equal to roughly the amount of oil that would fill a coffee cup) must be extracted from the Earth and turned into roughly a half kilogram of carbon dioxide. Take the money out of the economy and it could continue to function through barter, albeit in an extremely awkward, limited and inefficient way. Take the energy out and the economy would immediately contract immensely or stop. At $100 Oil - What Can the Scientist Say to the Investor? Other papers by Charles Hall "The Power of Community" Charles Hall is a systems ecologist. He studies and models how complex systems of nature and humans interact. One of his main points is that without energy human economies collapse. Earth, as a very complex system, is finite. Point. States can print, and the financial system can create, as much money as they wish. This difference between the 2 is not relative. It is an absolute difference. Hiding from that fact can only lead our societies to disaster. But such disaster would not only spell doom, for, it would also bring us closer to the end of the cycle of materialism... But this is another matter.
- At $100 Oil - What Can the Scientist Say to the Investor? in The Oil Drum by Nate Hagens
