December 28, 2021
From: "A History of Central Banking and the Enslavement of Mankind†(4th edition 2019)
"… the rising cost of extracting energy, also known as the ‘energy return on energy invested’ (EROEI) is rapidly approaching a ‘tipping point’ (sound familiar ?) ….. In 1990 the theoretical cost of energy was 2.43 % of GDP, 4.7 % in 2010, expected to be 9.6% by 2020, rise to 15% by 2030. This decline in energy returns ….will lead to wide spread closure of mines and industries and adversely affect agriculture, predicates a very substantial drop in living standards.â€
In the United Kingdom, according to the first official definition (1991), which is still unofficially used in other countries, "a household is said to be energy impoverished if it needs to spend more than 10% of its income on fuel to maintain an adequate level of warmth.
Translation: We are already impoverished by energy costs and it will only get worse. Humanity has reached the mythical "tipping pointâ€. Citizens of developing nations are already suffering …. and dying. We’re next under the Build Back Better and the "Unreliables†promoted therein.
Posted by: Timothy Birdnow at
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