Why does fungibility matter (and where did it go)?

Our ability to substitute with alternative sources of energy is a factor of how fungible energy really is–how easily we can bring alternative B to replace lost supply of energy A. This article discusses how the real world tends to intrude on fungibility of our various sources of energy and what this matters.

A politics of crisis: low-energy cosmopolitanism

2008 is the year of a triple shock: the global food crisis (which made the realities of food-insecurity palpable), the global oil-price rise (which put localised transition on the agenda as never before) and the global financial hurricane (which gave the state as agent a new lease of political life). The long-term consequences can at present be only dimly discerned. [Discussion of leftism and localization]

Matthew Simmons has bad news for Vermont

You think the financial crisis unfolded quickly? That’s nothing compared to how fast things could happen with oil. That’s the message Matthew Simmons, chair of the oil investment banking firm Simmons & Company International, delivered last month at a conference on peak oil. Vermont is unprepared for change of that rapidity.

Economics – Oct 26

Heinberg: A back-row seat at the collapse revue
Oil, house prices, credit? 3 parts of the same story
Oil prices – a little more of the story
Many world stock markets now off 50% or more from peaks