Podcast

This week, Nate explores the shifting rules of human civilization as society moves from the upslope to the downslope of the Carbon Pulse. The conditions of abundant fossil energy that have rewarded growth, scale, specialization, debt, and a relentless pursuit of efficiency are changing, and the systems that once thrived by consuming surplus may soon only survive by conserving it.

In this episode, Nate welcomes back macroeconomic analyst Luke Gromen to unpack the financial bind facing the United States and the broader Global economy, a bind that leaves governments with two options: print or default (or some combination of the two).

This week, Nate offers a reflection on the U.S. midterm elections, separating the relief of a clear outcome from the deeper questions that remain unsolved. He considers what has changed politically and what hasn’t through a transpartisan lens, highlighting a growing disconnect between political institutions and the biophysical reality shaping our future. While the election has changed the occupants of some government positions, the Carbon Pulse continues, planetary boundaries remain in overshoot, and the global economic Superorganism carries on at its established pace.

In this episode, Nate is joined by Nigerian bat biologist Iroro Tanshi to explore how the rediscovery of a bat species unseen in Nigeria for 45 years – and a wildfire that destroyed half its habitat just days later – launched a community-led fire prevention program. Iroro explains how listening to farmers, who no longer knew when it was safe to burn their fields, led to a simple fire danger warning system that local leaders then backed with their own bylaws, directly addressing tragedy-of-the-commons dynamics. She also shares what it’s like to navigate conversations about climate and biodiversity with rural Nigerian communities, and how her team is now scaling their fire management solution across the tropics.

In this week’s Frankly, Nate examines the possibility that global economic growth is approaching its limits, reframing it as a historically unusual period in human history enabled by an extraordinary inheritance of fossil fuels. By tracing the relationship between economic output and the energy, materials, and ecological systems that sustain it, Nate uncovers how financial markets, debt, and technological innovation can obscure the physical constraints beneath economic activity, allowing financial claims to expand even as the underlying stocks and flows become harder to access. He outlines seven potential pathways to the end of growth, including how things like geopolitical conflict, social unrest, ecological degradation, catastrophic external events, and cascading systemic failures could expose the fragility of an increasingly interconnected global economy.

In this episode, Nate welcomes back oil market analyst Rory Johnston for an update on how the crisis has evolved since April. Rory explains why diesel is now the epicenter of the crisis, with crack spreads running five to six times their historical norm, driven by both the Iran war and Ukraine’s strikes on Russian refineries. He also unpacks one of the unexpected moves that lessened the severity of the energy shortage: China’s unprecedented 45% cut in crude imports, which he calls the “Beijing Swing.” Tying these trends together, Rory and Nate explore how soaring shipping costs have fractured a once-global oil market into regional pockets and how the poorest nations are bearing the brunt of demand destruction.

In the face of increasing chaos in our world, Nate turns inward in this week’s Frankly to examine a more personal question: what allows an individual to remain grounded, authentic, and capable of contributing meaningfully in turbulent times? He draws on his own experience to identify five things that help him build personal resilience, taking care to not treat them as any sort of universal formula. Rather, Nate offers a systems-oriented perspective that recognizes that our capacity to engage with a complex world depends partly on the conditions that sustain us as human beings.

In this episode, Nate is joined by Robin Wall Kimmerer to explore what we can learn from some of Earth’s oldest and smallest beings: plants. Robin weaves together her experience as a botanist and a Citizen Potawatomi Nation member to offer what she’s learned about living well within nature’s limits, including practices such as the Honorable Harvest and the importance of restraint and reciprocity. She also shares the Potawatomi prophecy of the Seventh Fire, in which humanity stands at a fork between a scorched path and a green one, and can only move forward by walking back to recover what was lost along the way. Robin frames this moment as the age of remembering – an invitation to restore the land and our relationship with it.

In this week’s Frankly Nate unfurls a metaphorical “ladder” that traces the systems-oriented forces shaping the economic Superorganism.

In this episode, Nate welcomes back Indy Johar, co-founder of Dark Matter Labs, for an exploration of how coupled systemic risks are reshaping capital, institutions, and what it means to invest for the future.

This week Nate examines artificial intelligence through the metaphor of Icarus, asking what risks arise when a civilization injects trillions of cognitive workers into a civilization that’s already in resource overshoot.

In this episode, Nate welcomes back petroleum geologist Art Berman for a follow-up to their May conversation, to take stock of what's changed since the war upended Middle East energy flows.