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Page added on February 19, 2015
Richard Douthwaite – Money Supply in an Energy Scarce World, Peak Oil
Peak oil will cause recessions and even a great depression, at least this is the common understanding of peak oil’s impact on the global economy. This means .
Economist Richard Douthwaite discusses the impact of peak oil on the world economy. Our current economic model requires sustained growth based on cheap fossi.
Richard Douthwaite explains how and why the energy supply and peak oil determine what happens with the economy, unemployment, rece.
Clips featuring Colin Campbell, Richard Heinberg, Julian Darley, etc. Oil is used for everything. When we reach maximum production, that is a very significan.
27 Comments on "Richard Douthwaite – Money Supply in an Energy Scarce World, Peak Oil"
Plantagenet on Thu, 19th Feb 2015 5:29 pm
We’re in an oil glut right now.
Global oil production just hit a new record high.
Colin Campbell and the other eople who predicted we would hit peak oil in 2005 have been proven wrong.
Any guesses as to when we will actually hit peak oil?
Apneaman on Thu, 19th Feb 2015 5:34 pm
Don’t feed it
Davy on Thu, 19th Feb 2015 5:35 pm
I have followed Richard on Feasta in the past. This interview did not offer much new material for many of us here but it is a good interview for someone new to the PO subject. I did some research on Richard and I found that he died in 2011. I was not aware of that. I included a link for those who would like to read more Feasta material. David Korowicz led me to Feasta. Korowicz has had a very big impact on me in regards to my doomish views. I recommend anyone interested in dynamic systems in relation to PO and the financial system to read some of Korowicz reports. Here is the info on Richard passing:
http://www.feasta.org/2011/11/15/in-memorium-richard-douthwaite/
Plantagenet on Thu, 19th Feb 2015 6:32 pm
If Richard died in 2011, then that explains why this presentation is so out-of-date and out-of-touch with current reality. Rather then the energy shortage with expensive fossil fuel prices that Richard predicted in 2011, just four years later we find ourselves currently in an oil glut with fossil fuel prices crashing down.
It just shows you have to take every “prediction” with a grain of salt.
Davy on Thu, 19th Feb 2015 6:54 pm
Planter, how can I tell you in a kind way and as a friend to STFUp. Good, I got that out without directly being a potty mouth. Anyway Planter if you are too dense to acknowledge a disequilibrium in the financial system and by extension the economy and oil complex you have an agenda or are in denial. PERIOD. Cheerios
Makati1 on Thu, 19th Feb 2015 7:46 pm
Predictions are just that, guesses of future events. Nothing more and nothing less. Timing is impossible unless you control ALL of the variables. That is possible in a controlled explosion, but not in finance, economics, resources, wars, health, etc. Often, it is just someone trying to justify a paycheck.
Plantagenet on Thu, 19th Feb 2015 7:57 pm
Daver, I enjoy your analysis of the current situation and I appreciate the polite roundabout way you give advice, and I’m sure you won’t mind then if reciprocate by telling you as a friend to STFUp as well.
I can’t imagine why you think I don’t “acknowledge a disequilibrium in the financial system” Of course there is a disequilibrium in the financial system. The 2008-9 financial crisis almost collapsed the global financial system, and the EU is still crumbling to bits, with Greece, Italy, Portugal, Spain and other countries essentially bankrupt. The US is also stumbling along, masked by unsustainable borrowing and money printing via QE.
None of those things change the fact that this video by Mr. Douthwaite is years out of date, and rather then energy shortages and ever higher energy prices he was concerned about what we are are seeing now are lower fossil fuel prices because of the current oil glut created by fracking tight shale oil.
It never pays to ignore reality, and I’m sure Mr. Douthwaite, were he still alive, wouldn’t want people sticking their heads in the sand and pretending that the parts of his talk that don’t match our current reality somehow do.
Colin Campbell, in his predictions of post-peak oil economics, foresaw cycles of boom followed by cycles of bust, but with a general downward trend. Personally, I think that is the most realistic way to see what is coming. We had a huge bust in 2008-2009, had a very slow and weak recovery from 2009 till, including a surprisingly robust burst of oil production thanks to fracking, but I look for another economic crisis and another leg down to come along pretty soon.
Take care of yourself and get ready for a bumpy ride down.
CHEERS!
farmlad on Thu, 19th Feb 2015 8:39 pm
I pity your horse; he’s about as tired of having you block his view, as you are tired of trying to get him to take you in the direction you want to go.https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQ861WKCIispbIAEt5yqcDa6Vh6-Iw6rbzGD32Ur7NI5DUz94P7cg
Due to the shortage of energy, the oil price went skyhigh in 2008 and brought the economy to its knees and since then, the worlds economy has never recovered, and is currently at an elevated risk for another coronary thrombosis event.
farmlad on Thu, 19th Feb 2015 8:40 pm
Planter
I pity your horse; he’s about as tired of having you block his view, as you are tired of trying to get him to take you in the direction you want to go.https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQ861WKCIispbIAEt5yqcDa6Vh6-Iw6rbzGD32Ur7NI5DUz94P7cg
Due to the shortage of energy, the oil price went skyhigh in 2008 and brought the economy to its knees and since then, the worlds economy has never recovered, and is currently at an elevated risk for another coronary thrombosis event.
GregT on Thu, 19th Feb 2015 8:57 pm
Quote from Douthwaite’s presentation above recorded in June of 2011:
“There is a growing consensus that within the next ten years, the amount of energy available to humanity from oil and gas is going to start to decline and that’s going to represent a sea change in the worlds economies.”
Fuck off Plant
Davy on Thu, 19th Feb 2015 9:15 pm
Farmer, nice link! Pictures are a 1000 words!
Greg well put! Richard’s prediction will likely be spot on.
Planter – Cheerios
Plantagenet on Thu, 19th Feb 2015 9:24 pm
@GregT
Your potty mouth is overflowing again. Please flush, dude.
Oooooo…you’d better brush your teeth quick too.
Cheers!
Plantagenet on Thu, 19th Feb 2015 9:32 pm
Richard Douthwaite was a great author, economist, and visionary. He died in 2011.
Its nice that people here appreciate his work, but people like Richard tend to be honest enough to be able to accept it when their predictions don’t pan out. Its always rather funny when their followers mindlessly accept every word of the great ones they admire, and turn the out-of-date writings and speeches into holy writ that cannot be questioned or criticized.
Richard definitely did NOT predict that world would have a glut of oil in 2015. Pretending otherwise is just silly.
Dave Thompson on Thu, 19th Feb 2015 9:51 pm
I am not sure if you are looking at the same video Plant. Douthwaite talks about what is happening and the possibility of things to come. In no way is this man making sweeping predictions about anything. Just as an after thought, the paint thinner and road tar glut continues.
Plantagenet on Thu, 19th Feb 2015 10:06 pm
Dave Thompson
The video is divided into two parts. In the first part Mr Douthwaite talks about peak oil. The video was made in 2011, and RD predicts that oil and gas production will be declining in 10 years. He predicts that energy prices will stay high for those 10 years. Mr. Douthwaite is quite insistent on those points, repeating them several times.
Nowhere does he predict that energy production would continue to INCREASE, which is what has occurred, and nowhere does he predict the current energy glut and low energy prices we are seeing
I’m sure Mr. Douthwaite would be appalled that GregT and his ilk here are acting like mindless “true believers”, taking his words as holy writ that cannot be questioned, even when his predictions clearly don’t match the actual situation we find ourselves in.
Cheers!
dave thompson on Thu, 19th Feb 2015 10:26 pm
2011 – 2015= 3 years, if he was making these predictions, as you profess, he still has 7 years to prove himself right or wrong. The roofing tar and naphtha glut continues.
Jimmy on Thu, 19th Feb 2015 10:36 pm
@Plant
Get a life
Plantagenet on Thu, 19th Feb 2015 10:59 pm
@Jimmy
Get a life
Plantagenet on Thu, 19th Feb 2015 11:01 pm
@Dave
I had to laugh when you subtracted 2011 from 2015 and came up with 3.
You’d better try that math again.
Hahahahahahahahahah!
GregT on Thu, 19th Feb 2015 11:09 pm
@Plant
If you have nothing to contribute here other than continuous mindless childish banter, then FUCK OFF!
Plantagenet on Thu, 19th Feb 2015 11:18 pm
@GretT
Your potty mouth is starting to back up.
Urp! URP! Jeez man—take that outside!
dave thompson on Thu, 19th Feb 2015 11:19 pm
Sorry plant I have lived with dyslexia my whole life and at times I switch things like that. However, Douthwaite still has 7 years to prove his supposed grandiose predictions you were spouting about. The cigarette lighter fuel glut continues.
Plantagenet on Fri, 20th Feb 2015 1:19 am
Dave
You’re dyslexic? OK—that explains a lot.
GOOD LUCK!
GregT on Fri, 20th Feb 2015 2:22 am
“You’re dyslexic? OK—that explains a lot.
GOOD LUCK!”
An apology would have been much more appropriate.
Davy on Fri, 20th Feb 2015 6:56 am
Dave, I spent my younger years slightly dyslexic. I grew out of it eventually. I think dyslexia offer an alternative view of things allowing for better non conformist behavior. Well, that sounds good anyway. HA
dave thompson on Fri, 20th Feb 2015 7:16 am
Davy, when folks feel they have to put you down for something like that(being functionally dyslexic),It is mostly an annoyance. I know I have made my point and no further discussion is needed. However at this late juncture in life, I still like to be a friend to those who may offend. I have been there and learned the hard way . On a happier note; The polymer feed stock glut continues. LOL.
Davy on Fri, 20th Feb 2015 7:46 am
Owwee Planter, did you take that one with a pinch?
“polymer feed stock glut continues”
Great Planter smack Dave!