The Bitcoin Standard Podcast

291. The Fiat Standard Lecture 10: Fiat Fuels

Sep 16, 2025
This discussion dives into the impact of the fiat monetary system on energy markets, arguing that hydrocarbons are irreplaceable in modern economies. It critiques reliance on subsidized and unreliable energy sources, exposing the myths surrounding climate narratives. The conversation also highlights the inflating costs of energy linked to monetary policy and emphasizes the economic consequences of shifting away from fossil fuels. Ultimately, it challenges prevalent climate criticisms while stressing the importance of hydrocarbons for progress and infrastructure.
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INSIGHT

Inflation Drove The 1970s Oil Crisis

  • Fiat monetary expansion, not the 1973 embargo, drove the 1970s oil price surge.
  • Currency devaluation made energy far less affordable and prompted policy distortions.
INSIGHT

Fiat Versus Thermodynamics

  • Government fiat policy has tried to replace hydrocarbons with renewables despite engineering limits.
  • That effort conflicts with thermodynamics and the foundational role of high-density fuels.
INSIGHT

Why Hydrocarbons Power Modernity

  • Hydrocarbons act as cheap, portable, high-density 'batteries' enabling modern technology.
  • Wind and solar lack that on-demand power density and mobility inherently.
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