Energy

I came across these videos from another blog. It is a series of crash course videos. I highly recommend that you go through it. What it says applies to Malaysia. It is now time to manage our limited oil resource. Our lifestyle and economy will be different without oil. I write down the key points that were given in the video to prevent the "rightside-in-leftside-out" syndrome. 

Crash Course Chapter 17a: Peak Oil

Key Fact #1: Global oil discoveries peaked in 1964.

Key Fact #2: Recent production is flat while oil prices are up.

Key Fact #3: The US imports oil equivalent in energy to 750 nuclear power plants.

Key Concept #9: Peak oil is a well defined process.

Key Concept #10: The amount of work that oil performs for you is equivalent to having hundreds of slaves.

Key Concept #11: Oil is a magic substance, finite in supply, but of unlimited importance.

Key Concept #12: Oil exports being hit two ways; by rising demand and declining production.

Crash Course Chapter 17b: Energy Budgeting

Key Concept #13: The price of energy is irrelevant. Net energy is everything.

Key Concept #14: Social complexity relies on surplus energy.

Crash Course Chapter 17c: Energy and the Economy

Prediction #1: Status quo will be preserved at all costs.

Prediction #2: Hyperinflation will result. 

Prediction #3: Standards of living will decline.