Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Posted: Thu May 01, 2008 9:25 pm Post subject: Net energy
I've been skimming through Jay Hanson's old die-off site (some real gems there, well worth looking at all 200+ pages if you have the time) and came across this excerpt from ENERGY AND RESOURCE QUALITY by Charles Hall, et. al.
However, I don't believe I've seen an oil production model quite like this, and the excerpt gives no details about the math or data used. Has anyone seen an analysis with a curve for net energy of oil production like this anywhere else?
I know some models have predicted a "long tail" for oil production, but it would be fascinating to see where in those scenarios we reach the cut-off in net energy and oil switches from energy source to energy sink. Could be closer than we thnk!
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