Re: [asa] $4 gas is here to stay (fwd)

From: Rich Blinne <>
Date: Wed Dec 10 2008 - 23:30:17 EST

On Dec 9, 2008, at 8:25 PM, Glenn Morton wrote:

> As the economy in the future has, each day, less and less energy
> with which
> to overcome the friction of getting that hammer to market,, fewer
> hammers
> will be moved. And fewer hammers will be forged, as that requires
> energy as
> well. As I said in my 2005 ASA talk on energy at Messiah
> College,
> when peak oil happens it will mark the first time in 10,000 years that
> mankind has had less energy tomorrow than he had today. It will be a
> historic moment. Right now, July 2008 is the peak of oil
> production, but
> that figure is preliminary and most likely will be revised downward
> (May
> 2008, which was the previous 'peak' was revised downward. If July
> 2008 gets
> revised downward, then May 2005 was the peak of world crude oil
> production!
> As the energy available to the world economy becomes less and less,
> eventually we will reach a point where the economy moves from the
> status of
> a dieter, to the status as an anorexic. I don't know what level of
> energy
> use that is, but as far as I can see it is coming

The next Secretary of Energy addresses this myth that the wealth of a
country is proportional to the energy it uses.

Look starting at 2:00 through 4:11 where Dr. Steven Chu concludes,
"Miraculously the manufacturers had to assign the problem to the
engineers instead of the lobbyists."

Rich Blinne
Member ASA

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Received on Wed Dec 10 23:30:58 2008

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