* To establish feasibility, it is necessary to include some items in the energy invested term that are normally not thought of as investments. For example, the cost of sequestering such carbon dioxide as will be produced by the energy technology under investigation should be added to the energy invested term because feasibility requires that our society be sustainable (until astronomical events intervene). In this thought experiment, the support of an alternative energy technology would be the sole concern of every citizen.

Friday, November 30, 2012

ASPO Conference Austin, Texas, 2012

Yesterday, I attended the ASPO Pre-Conference Workshop in Austin where the recent World Energy Report that predicted that the USA would achieve cornucopian oil output was discussed. Despite general acceptance of Peak Oil by the meeting speakers, some otherwise astute economists who claimed to reject the standard economic model seemed to be pretty much caught up in flat-Earth economics principally based upon money rather than energy. They rejected planned economies and retained faith in market economies with religious conviction. Basically, they were rearranging the deck chairs on the Titanic. But, there I must leave it, as I don't want to be late for today's ASPO meetings.

Tom Wayburn, Houston, Texas

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