If I’m wrong, nothing bad happens to our standards of living and personal sense of wealth.
If Doomberg is wrong, energy ignorance coupled to self-delusion will be looked back on as one of the most colossal blunders humans ever inflicted upon themselves.
It brings to mind this quote:
https://peakprosperity.com/wp-content/uploads/2024/01/Thomas-Sowell-IQ-Disaster-1704553820.5839.jpg
My personal view is this is going to be one of those “slowly then all at once” things.
It begins with “Peak oil isn’t a thing.”
Then, “Okay it’s a thing but it’s not really important. We’ve got electric cars coming.”
To, “Okay, Peak Oil Demand was a premature concept, but since people will be living in 15-minute cities it won’t be that big of a deal.”
Finally, “Oh shit! Oil is finite!! Quick, let’s nationalize this valuable resource for our own domestic uses!!”
This is the same dynamic that happens with grains during poor harvests. Exporting countries get religion real quick and ban exports. This will happen too with oil. When it does, every single import-dependent country will experience an economic and financial shock unlike any other.
One of us has the story very wrong. It’s like you’ve got one doc telling you everything is fine and the other is pointing at a mass on your radiograph and speaking in worried tones.
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