What happens when fossil fuels run out?

Gary Mason, Toronto Globe and Mail 31 January 2014 p.A11

The foundation of the world economy is built on energy. And if you believe that the economy is structured in such a way that it needs to grow continually in order to survive, then it will take an endless supply of energy to feed it. But what happens to that equation when the net amount of energy we extract from the earth is shrinking? How, then, does an economy grow exponentially forever if the one element it needs more than anything to flourish is contracting with time? Well, in the mind of Chris Martenson, it creates a moment when it’s vital to challenge existing orthodoxies about the way the economy, debt and capital markets work, and to think about how wealth is accumulated, more generally.

http://www.theglobeandmail.com/globe-debate/what-happens-when-fossil-fuels-run-out/article16625142/

Gary Mason is the Globe and Mail’s National Affairs Columnist
Not a word about degrowth, but this is THE establishment press commenting after all!

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