The Oil Drum: Physics in the Energy Economy

This is the first in an occasional series of posts on the role of physics, particularly energy, in the economy. I’ve noted that on several sides of the peak oil debate that there is a serious lack of literacy in basic physical theory. On the one hand, classical economics seems to have been developed with an almost complete lack of consideration of the role of energy.
A really good post by Stuart Staniford after the jump to The Oil Drum.