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82 comments on Homework Assignment: Rates of Decline of the Largest Fields

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peakearl on August 13, 2006 - 4:04pm

It won't be 100/bl as the energy inputs for the process get dramatically more expensive, including the energy cost to mine and make the steel, etc. All those old cost numbers presume the rest of the energy cost remain stable.

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wkwillis on August 13, 2006 - 9:50pm

Nah, the energy costs will stay the same. Coal is coal, uranium is uranium.
Diesel is much more important for farmers than for miners. Diesel is less than one half, less than one quarter, less than one eighth of the cost of iron ore, or steel, or pipe.
What's really going to hurt is when all those under employed people making ten bucks an hour are suddenly getting paid as much as you do. You're going to think it's the end of the world when the sixteen year olds start getting apartments and cars and it comes out of your slice of the pie. Even when the pie gets bigger, your slice will get smaller.
The pendulum swings, and then swings back. Welcome to 1973!

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