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Articles: Resource Depletion (528)
Chris Nelder on why peak oil isn't dead.
Complex structures, such as states and empires, are always prone to collapse and they usually give little or no previous warnings.
A Seneca shaped production curve would considerably reduce the amount of fossil carbon that can be burned in the future.
You probably know the joke that starts with the question "how do economists hunt bears?"
The collapse of the North Atlantic cod fishery industry gives us a good example of the abrupt collapse in the production of resources - even resources which are theoretically renewable.
It is a well known tenet of people working in system dynamics that there exist plenty of cases of solutions worsening the problem.
Eventually, production must go down: there will still be oil that could be, theoretically, extracted, but that we won't be able to afford to extract. This is the essence of the concept of depletion.
In the US; people are driving less. Perhaps there are behavioral factors involved, but "peak mileage" suggest that they are doing that because they can't afford to drive more.
There is a standard view of energy and the economy that can briefly be summarized as follows: Economic growth can continue forever; we will learn to use less energy supplies; energy prices will rise; and the world will adapt.