I can't speak for others. It seems to me that we have to take one day at a time.

In my view, it is financial collapse (arising from the inability of the economy to grow fast enough to support all the debt, because of the higher cost of extracting oil) that is the limiting situation. Exactly how soon we reach a major financial disruption, and what the impact will be on world trade and things like the internet is unclear. It is possible things may hold together for years, but it is also possible that we may see a big change within weeks.

It seems to me that Liebig's Law of the Minimum will be what is important. Its impact is hard to predict, because so many pieces that we don't fully understand are involved.

I agree with Gail.

Imagining a conservative-state world, effectively the financial collapse is above us.

There is an horrible way to avoid (delay...) this. It consists in rising up poverty and limiting resources access to south world.

I see the only way to save us in this cocktail

- limiting consumpion
- smoothing inequity resource access
- going rapidly towards renewable and recycling
- demographic regulation

... easy, isn't it?

Gail,
in the magazine AMERICAN SCIENTIST (May-June 2009 Edition) there is a good and well written article:
REVISITING THE LIMITS TO GROWTH AFTER PEAK OIL
The authors mention that apparently world oil production has peaked.

Maybe some people who want to go to the Olympic Games of London in 2012 will have to change their plans.

This is a link to a free version of REVISITING THE LIMITS TO GROWTH AFTER PEAK OIL. We also had a post about the article.

I agree. We are on shaky ground, planning to attend things like the 2012 Olympic Games in London.

I went past the 2012 Olympic site on the train today after visiting a very interesting exhibition at the Royal Society (some of the scientists present realise we potentially have a big energy problem in the UK in the next few years), the main Olympic stadium is progressing well.

I hope we aren't bankrupting ourselves and then nobody comes to the party! :-(

Inflation. The politicians, and banks will not allow deflation.