Assume the oil begins to run out and that extraction becomes more expensive. Trace through the effects of t?

Sorry, but this is an extremely complex issue. The short answer is :


1. Extreme rapid rise in commodity prices of energy.


2. Insufficient capital to develop new alternative forms of energy that had benn historically uncompetitive.


3. Inability to actually identify alternative energies that do not have severe environmental impacts.


4. Lack of Energy to fuel economic growth in manufacturing and exports, mineral extraction , production of food, heat for homes and health, provision of potable water.


5. Complete economic collapse, anarchy and war.


6. Eventual economic stability at a GDP level which might be a fraction of what current GDP growth is (0.5-1.0%)


7. A world with about 1/2 of its current population.





This of course is predicated on a world without a revolutionary new fuel type which has hitherto not been discovered!


I firmly believe that much of the AGW hysteria, currently being fueled by governments themselves, is based on a desire to alter the ';free market'; distribution of energy sources (which highly favor fossil fuels due to their efficiency) through time. They wish to bring alternatives which are uneconomic, forward in time so as to mitigate the effects that I mention. This is a very fundamental economicc flaw, which will actually exacerbate problems exponentially!

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