Richard Douthwaite - Money Supply in an Energy Scarce World, Peak Oil - 1 of 4

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www.localfuture.org Richard Douthwaite explains how and why the energy supply and peak oil determine what happens with the economy, unemployment, recession and depression. Douthwaite presented this exclusive talk to Local Future's 2011 conference The International Conference on the Sustainability: Energy, Economy, Environment. The conference was organized and directed by Aaron Wissner, president and founder of Local Future, a 501(c)(3) tax-exempt non-profit educational organization. Notes from the talk: * Gold was primarily an energy currency because more energy meant more gold, and cheaper energy made cheaper gold. * Gold standard broke down when the Spanish raided America and then Spain started to import everything, and lost their interest in making things themselves. * The curse of oil -- too sudden an influx of money. * If you have a source of energy under your control, then you have the power to decide what is done. * Importing energy is like a loss of sovereignity. * How many minutes of work does it take to buy a certain food, such as a 3-pound chicken. * Two measures of complexity: 1. numbers of artificts in common use; 2. number of recognised job descriptions. * Complexity also can be seen by the number of different goods available in grocery stores, etc. * The amount of energy to find and produce oil is getting closer and closer to the energy return (EROI). * How much energy do we need to run a rather complex society? * Energy Internal Rate of Return -- How ...

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