And what impact would actual shortages have? Bus is electric, bike doesn’t need fuel, suppose the ferry is only plug in hybrid so that needs diesel but I only take it for holidays/special occasions.
Fuel is used both for energy and for the molecules that are the input into products.
Energy is used for heating buildings, ocean transport, train and truck transport, personal transportation, electricity, mining, airplane travel, farming and so on.
The material feedstocks go into a wild array of products like all the sterile disposables they use at the hospital, clothing, shoes, eyeglasses, medications, farm fertilizers, food packaging, home building materials, road paving and so on
If you look around at the room you’re in, probably 90%+ of the items you see are either made from oil, made using oil, or transported to where you are by oil.
Shortages will require price spikes, the prices will have to go high enough that people can not or will not purchase as many of these items such that the low supply is met by low demand.
Because many of the items in this list are basic essentials, one of the main mechanisms to “reduce demand” is an economic shock that lands with higher unemployment and lower income for a large enough amount of people that demand and supply balance. In other words, people will have to be so poor they cannot pay.
Around 9/10ths of the food you eat started as oil if you trace the molecules back, they came from fossil fuel based fertilizers.
And what impact would actual shortages have? Bus is electric, bike doesn’t need fuel, suppose the ferry is only plug in hybrid so that needs diesel but I only take it for holidays/special occasions.
Fuel is used both for energy and for the molecules that are the input into products.
Energy is used for heating buildings, ocean transport, train and truck transport, personal transportation, electricity, mining, airplane travel, farming and so on.
The material feedstocks go into a wild array of products like all the sterile disposables they use at the hospital, clothing, shoes, eyeglasses, medications, farm fertilizers, food packaging, home building materials, road paving and so on
If you look around at the room you’re in, probably 90%+ of the items you see are either made from oil, made using oil, or transported to where you are by oil.
Shortages will require price spikes, the prices will have to go high enough that people can not or will not purchase as many of these items such that the low supply is met by low demand.
Because many of the items in this list are basic essentials, one of the main mechanisms to “reduce demand” is an economic shock that lands with higher unemployment and lower income for a large enough amount of people that demand and supply balance. In other words, people will have to be so poor they cannot pay.
Around 9/10ths of the food you eat started as oil if you trace the molecules back, they came from fossil fuel based fertilizers.