19 Oct '12, 1pm
Drumbeat: October 19, 2012
Posted by Leanan on October 19, 2012 - 10:30am An economy awash in oil : Forget the doomsayers. Cheap abundant fossil fuels will drive our future. Marion King Hubbert’s famous theory of “peak oil” has gained a great deal of traction in the scientific literature of various fields. Want to read up on peak oil and urban planning? Check. Peak oil and tourism? No problem, you’re not the first. Peak oil and public health? Where to even begin? There have been articles on the peak oil phenomenon in publications such as the International Journal of Child Rights ; Behaviour and Social Issues; and Physica: Statistical Mechanics and Its Applications . Curiously, however, there is one field whose literature is a tad light on serious discussions of peak oil: economics. There is a simple explanation for that. Hubbert’s theory has economic implications, but no economic content per se. In ...