Investigative journalist, recovering academic, tracking the Crisis of Civilization patreon.com/nafeez
I called it then, and I’m calling it now.
But the HSBC report’s specific forecasts of global oil supply and demand are part of a wider story of global net energy decline.
Much trumpeted improvements in drilling rates and efficiency will not make things better, because they will only accelerate production in the short term while, therefore, more rapidly depleting existing reserves. In this case, the report concludes:
…t bank, holding assets of $2.67 trillion. So when they produce a research report for their clients, we should listen.