Peak Oil is You
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Page added on August 28, 2010
TOD: How limited global oil supply may affect climate change policies
On Wednesday, August 25, I gave a presentation called How limited global oil supply may affect climate change policies at the MIT-NESCAUM Endicott House Symposium on climate change.
The audience included leaders from governmental, industrial, academic, and non-governmental (NGO) sectors. They were very concerned about climate change, but not very aware of, or concerned about, the issue of resource limits.
In my talk, I pointed out where the “standard” view of the economic response to peak oil goes wrong. People expect that if there is an oil shortage, prices will rise and then substitutes, or additional supply, or technological solutions will be found. But what if these solutions take decades or even generations to implement? Oil from new fields is not instantly available; new biofuels do not scale up quickly; and technological innovations take decades to make a meaningful difference in the overall picture.
One Comment on "TOD: How limited global oil supply may affect climate change policies"
KenZ300 on Sun, 29th Aug 2010 9:43 am
Economic security and national security will depend on our ability to ramp up clean, sustainable, alternative energy sources.
Wind, solar, geothermal and biofuels need to scale up production in a meaningful way.
The economic shock from high oil prices will ripple thru the economy.