Nate offers a short monologue on why our culture is “energy blind” and the implications.
Show Notes & Links to Learn More
Download transcript00:43 – The Great Simplification – Full Movie
01:26 – Everything requires an energy conversion
03:04 – A barrel of oil is worth ~5 years of human labor (Section 4.3)
04:38 – Energy is not accounted for in economics and production estimations
05:25 – We use energy as principal, but treat it like interest
05:37 – We use 100 billion barrel of oil equivalents of fossil hydrocarbons per year, globally
06:19 – We don’t include resource creation or pollution streams in our prices
06:44 – Massive wealth growth due to fossil hydrocarbons
07:18 – The average American uses 3,100 lbs of coal/year
08:17 – Steve Keen
08:49 – We are drawing down energy 10 million times faster than it was created
09:08 – Global conventional oil extraction has plateaued the last 15 years
09:32 – Oil production has appeared to grow due to debt, QE, and shale oil
09:57 – Oil production likely peaked in late 2018
10:25 – Half (65%*) of US crude oil production is light, tight shale oil
10:35 – What is shale oil?
11:30 – The U.S. produces 11-12 million barrels oil/day, and uses 20 million barrels of oil/day
11:59 – 60-65% of remaining oil is in the 600 mile triangle in Saudi Arabia
12:27 – Oil underpins and predicts economic wealth
13:04 – Geographic distribution of oil
13:27 – The US has used more oil in the last 20 years than any other country ever
13:53 – Rebuildable energy
14:04 – Most renewable energy is electricity, which is only 20% of energy used globally
14:33 – Intermittence
14:47 – Russia reduced natural gas flows to Germany by 25%
16:15 – Fossil energy replaces human labor, which is energetically inefficient, by highly valuable for time (Graph) + Background analysis
17:37 – Gina McCarthy wants social media companies to crack down on anti-renewable content
19:02 – 40% of a barrel of oil is gasoline, the other 60% creates thousands of other products
20:16 – Ecology blindness
21:05 – Putin’s speech 06/17/22 and implications
22:07 – Japan imports all energy, and is creating monetary overlays to subsidize this
23:12 – Italy imports all energy
