"System change is now inevitable. Either because we do something about it, or because we will be hit by climate change. '...

"We need to develop economic models that are fit for purpose. The current economic frameworks, the ones that dominate our governments, these frameworks... the current economic frameworks, the neoclassical, the market frameworks, can deal with small changes. It can tell you the difference, if a sock company puts up the price of socks, what the demand for socks will be. It cannot tell you about the sorts of system level changes we are talking about here. We would not use an understanding of laminar flow in fluid dynamics to understand turbulent flow. So why is it we are using marginal economics, small incremental change economics, to understand system level changes?"

Saturday, June 16, 2007

Peak Oil Explained

Thanks to the anonymous poster who pointed me to Quark Soup, which seems to maintain an excellent compendium of timely science links. I've blogrolled it and intend to follow it. I also won't be shy about adding a few words about some of the more interesting links. (For instance I note the irrepressible Matt Huber appears again, this time on a story of making use of CCSM a little less painful. Boy, there's a timely issue for me. But that wasn't even my favorite link of the first batch I saw.)

I always appreciate when people manage to boil the essentials of complex issues down to a few words. I'm not sure that is what lit crit people mean by framing, but it's what I mean. Quark Soup points to a fine example which appeared in this The Independent story about peak oil:
According to "peak oil" theory our consumption of oil will catch, then outstrip our discovery of new reserves and we will begin to deplete known reserves.

Colin Campbell, the head of the depletion centre, said: "It's quite a simple theory and one that any beer drinker understands. The glass starts full and ends empty and the faster you drink it the quicker it's gone."

Dr Campbell, is a former chief geologist and vice-president at a string of oil majors including BP, Shell, Fina, Exxon and ChevronTexaco.

1 comment:

David Duff said...

But before you even reach the last glass, the price goes up astronomically, and as a result you begin to sample the delights produced by the grape rather than hops, and pubs become wine bars.

Honestly, you doomsters are such party poopers!