Book

Description

In the Odyssey, by Homer, Odysseus goes on a long arduous journey after the Trojan War, which was a titanic military conflict. This is similar to our own arduous energy journey we must take. In science, though, there are also titanic conflicts regarding the proper analytical theory or the most appropriate strategy for future solutions similar to a Trojan War. This book is about just such a scientific debate over the concept of natural resource scarcity and its effects on economic growth also called the scarcity and growth debate. In general technology has been able to overcome scarcity for all of human kind for many centuries, but that does not mean the world does not face the prospect of scarcity, like for example how to reduce climate change and still be able to have a robust economy.
A more subtle scarcity and growth debate is presented here in regard to a geologist named M. King Hubbert, who predicted that petroleum production would follow a trend and eventually attain a peak in its supply followed by a downward projection, which could cause economic disruption. Most commentators have long since given up on Hubbert’s theory and have declared that the scarcity and growth debate is over. But there is a Hubbert Trojan Horse in this debate that suggests in fact the debate is not over, and the possibility of a peak in supply is relevant. The different sides of the debate are brought out including how shale-oil plays a role in energy supplies.