Isn’t this only if no new investment happens AKA no new oil drilling projects? “Within a year of investment ceasing.” Investment isn’t going to cease though, unless I’m misunderstanding. Although, sometime we will run out of oil and then these dire societal effects will happen. Previously, I remember you saying that the average person will start to feel very affected by the energy crunch starting sometime in the 2030’s and that the level of collapse will continue to increase for maybe a few decades after that.
yeah investment will continue and they will extend this timeline but we find less and less which is more costly to extract. The real shock of this is just that the situation is very dire very quickly if the pace cannot keep up. If you consider that investment could cease substantially due to financial issues or the fact that high oil prices may not be sustainable. How fast this collapse can happens if something goes wrong is really the reason i posted this. the decline can be so fierce it would be a huge stagflationary trigger which is how most people will experience this.
Previously, I remember you saying that the average person will start to feel very affected by the energy crunch starting sometime in the 2030’s and that the level of collapse will continue to increase for maybe a few decades after that.
I was probably talking about total energy including natural gas, because natural gas peak estimates come in around 2034, after that its crucial we have built out alternatives sufficiently to at least put a floor beneath us in terms of electrical generation. Its still possible we can get enough build out to at least keep functioning as depletion kicks in but we are currently not aggressive enough with installing renewable or nuclear capacity.