Oil

The thermodynamic economy

by

It’s hardly news that economists these days spend more of their time explaining away their mistakes than providing useful guidance to policy makers and the public. Behind the failure of contemporary economics lies a poorly understood reality: the mismatch between today’s economic ideas and the laws governing the natural systems that support the human economy.

Interview with Charlie Maxwell (Part 1 of 2)

by

“What struck me the most, as a surprise, is the virulence in the downtrend in the world economy. That’s a negative for the peak oil story, but only a temporary negative. By crushing demand, we are in effect gaining two more years, maybe three, in which we in the consuming world have added to our time before the peak, and could take good advantage of, since the peak is right upon us-I have it still at 2015 for all liquids.” (Charlie Maxwell is the life-long oil industry analyst viewed by Barrons’ magazine as their energy guru.)