Subjectivist wrote:It matters simply because our entire western economic system is based on growth, and to get unconventional oil costs so much more there is nothing left over to grow the economy. We need not just any energy to run our system, we need cheap energy. Oil at $110/bbl was enough to stall growth, and it was only possible because those were the marginal barrels, most barrels cost far less because they were conventional.
That trope has been repeated on this site for over a decade now and it is as unsubstantiated now as it was over a decade ago. Oil is but one component of our energy sources and I have never seen compelling data which proves, let alone even data that looks compelling, that costly oil is the death knell of growth. It's unfortunate the argument is still trotted out because so much credibility is lost when it is used.
That said, there is loads of compelling data which shows we DO need to move away from carbon sourced energy due to the serious risks to the climate. It is also obvious that we need to move away from the drive for never ending growth but that problem will be much more difficult to tackle.