What do you think is going to happen when we get to a point where the world simply cannot produce any more oil than it is already producing? It is often said that “energy is the economy”, and to a large degree that is true. Very wealthy nations with large GDPs tend to use a great deal of energy, while very poor nations with small GDPs tend to use a lot less energy. Just about every form of economic activity requires energy, and so those countries that have a high level of economic activity require more of it. Of course we live at a time when the total population of the world has been steadily increasing and global demand for energy has soared to unprecedented heights. Production has struggled to keep up with demand, and now it appears that we will soon reach a point where we are simply […]