Oil

How much oil is left: (interview with Richard Heinberg)

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One of the world’s foremost educators on Peak Oil, Richard Heinberg, in an exclusive interview for MMNews: “We are currently seeing the end of economic growth as we have known it.” Further on, he talks about the financial / economic crisis, monetary changes vis-à-vis a shrinking energy supply, and the Century of Declines: “Peak Everything.”

The peak oil crisis: countdown at the Guri

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Now, if you are wondering why a falling water level in the Venezuelan highlands should be if interest to Americans, the answer is easy. Despite years of political tensions between the Chavez government and Washington, the U.S. is still importing some 800,000 barrels a day of crude from Venezuela.

Implications of Unmeasurable Capital

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I was very struck by a piece by Steve Randy Waldmann at Interfluidity yesterday, entitled Capital Can’t be Measured.  He is basically arguing that modern financial institutions are sufficiently complex that the concept of their “capital” is subject to measurement errors of the same order of magnitude as the capital itself.  This rang true to me, and put into words something that had nagged at me in reading about financial reforms, but had not come clearly to the surface of mind.

Increasing Global Nonrenewable Natural Resource Scarcity—An Analysis

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During the pre-recession years of the 21st century, we experienced wide-ranging nonrenewable natural resource (NNR) scarcity on a global scale for the first time. Supplies associated with an overwhelming majority of the global energy resources, metals, and minerals that enable our industrialized way of life failed to keep pace with increasing global demand during the 2000-2008 period, resulting in global NNR supply shortfalls.

Peak asphalt: the return of gravel roads

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Peak oil – arriving or already arrived – is placing a tremendous strain on the world’s economy. Because of this strain, the kind of money used for maintaining roads is quickly disappearing and the result is the return of unpaved roads. … in the coming years we’ll see more and more roads returning to gravel, as it was commonplace in the Western World up to about 50 years ago.