Energy Blindness
VIDEO
Nate Hagen - Energy Blindness | YouTube (24 min 12sec) Notes & Links from The Great Simplification website (link here ) are copied below for your convenience
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Notes & Links 00:43 - The Great Simplification - Full Movie 01:26 - Everything requires an energy conversion 02:14 - The average American house has 40 things draining energy all the time, and use 12-15% of our electricity 03:04 - A barrel of oil is worth ~5 years of human labor (Section 4.3) 04:38 - Energy is not accounted for in economics and production estimations 05:25 - We use energy as principal, but treat it like interest 05:37 - We use 100 billion barrel of oil equivalents of fossil hydrocarbons per year, globally 06:19 - We don’t include resource creation or pollution streams in our prices 06:44 - Massive wealth growth due to fossil hydrocarbons 07:04 - Average US citizen consumes 17 barrels of oil/yr, and 57 barrels of oil equivalents + additional goods we consume adds 17 barrels of oil per person/year 07:18 - The average American uses 3,100 lbs of coal/year 08:17 - Steve Keen 08:49 - We are drawing down energy 10 million times faster than it was created 09:08 - Global conventional oil extraction has plateaued the last 15 years 09:32 - Oil production has appeared to grow due to debt, QE, and shale oil 09:57 - Oil production likely peaked in late 2018 10:25 - Half (65%*) of US crude oil production is light, tight shale oil 10:35 - What is shale oil? 10:56 - If we were to stop drilling right now, production would drop 40% this year, 22% next year, and 17% after that 11:30 - The U.S. produces 11-12 million barrels oil/day, and uses 20 million barrels of oil/day 11:59 - 60-65% of remaining oil is in the 600 mile triangle in Saudi Arabia 12:27 - Oil underpins and predicts economic wealth 13:04 - Geographic distribution of oil 13:27 - The US has used more oil in the last 20 years than any other country ever 13:53 - Rebuildable energy 14:04 - Most renewable energy is electricity, which is only 20% of energy used globally 14:33 - Intermittence 14:47 - Russia reduced natural gas flows to Germany by 25% 16:15 - Fossil energy replaces human labor, which is energetically inefficient, by highly valuable for time (Graph) + Background analysis 17:37 - Gina McCarthy wants social media companies to crack down on anti-renewable content 19:02 - 40% of a barrel of oil is gasoline, the other 60% creates thousands of other products 20:16 - Ecology blindness 21:05 - Putin’s speech 06/17/22 and implications 22:07 - Japan imports all energy, and is creating monetary overlays to subsidize this 23:12 - Italy imports all energy 23:23 - Natural gas at $240/barrel in Europe