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The Food & Energy Crisis Has Only Just Begun | Doomberg
Forward Guidance
The Constant Unrelenting Struggle for Energy Conservation
The price elasticity of demand for energy is the price elasticity. of demand for life, and who can afford to pay it is going to clear the market. For us in the West until now, energy has been thought of as just another commodity when we flick the switch lights come on. When that's no longer the case, people with means will pay virtually any price - those without means are screwed. The literal definition of standard of living is how much energy you get to waste to impose order on your local environment. We waste a lot of energy here in the US.
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