[quote=sdduuuude]I agree with you – economics can’t fix things. It is really only there to describe things.
I’m just saying – mountains of scientific data don’t push people to action. Economic pain does, and the economic pain of PO isn’t upon us yet, even if PO is.
I agree we’ve had a hint of what it might look like, though I don’t think we’ll see the real deal for another 20 yrs.
Like you said – lower demand due to current economic conditions will help mitigate the effects of PO, but it isn’t really a “designed” solution. It’s just happening. Again – here economics describes the situation, but isn’t really a solution.
There is a different between market solutions, such as new technology, new power infrastructure, etc., and market events, like recession, or de-leveraging, which just happen to mitigate the effects of PO.[/quote]
Actually, I don’t think high oil induced economic mayhem will hit for a long time either, if ever. I think what it indicated is that the market did not deliver solutions. Though, the bubble just muddied the waters.
I also think what it means at this point is our economy is done “growing” and no recovery is coming. The massive debt overhang is going to crush us over the next 2-5 years and after that is anybodies guess. however, a depression is not an environment that induces clear thought. Last time we had one we wound up in a world war. Actually if high oil was going to be a problem it could easily be rectified by contracting credit. Which is a good way to regulate consumption. The invisible and behind the fed could mitigate.
