{"id":4335,"date":"2011-01-09T00:01:00","date_gmt":"2011-01-09T06:01:00","guid":{"rendered":"http:\/\/ishmaels.net\/blog\/?p=4335"},"modified":"2011-01-09T00:01:00","modified_gmt":"2011-01-09T06:01:00","slug":"re-post-from-gregor-us-oil-vs-economic-recovery","status":"publish","type":"post","link":"https:\/\/www.ishmaels.net\/blog\/2011\/01\/09\/re-post-from-gregor-us-oil-vs-economic-recovery\/","title":{"rendered":"Re-Post from Gregor.us \u2013 Oil vs economic recovery"},"content":{"rendered":"<h5>This is something else that I had not connected the Dots on.&#160; The more I read the more I learn, but this makes sense to me.&#160; As the price of energy goes up the possibility of economic growth will stabilize and maybe go back down.&#160; It also has coorelation to the \u201cnaysayers\u201d not believing that we have probably reached \u201cpeak oil\u201d.&#160; I now believe that &#8216;\u201dpeak oil\u201d is a situation of several factors and not a specific point.&#160; Whether we&#160; have really reached the exact maximum production is unknown but we are seeing the outcome of Supply vs. price vs Demand interaction at these levels.&#160; &#8211; WD0AJG<\/h5>\n<h4><a href=\"http:\/\/feedproxy.google.com\/~r\/Gregorus\/~3\/DsVC1Wa1bqM\/\">Structural Unemployment in America and Liebig\u2019s Law      <\/p>\n<p><font color=\"#cc0000\"><\/font><\/p>\n<p>   <\/a><\/h4>\n<p>from <a href=\"http:\/\/www.google.com\/reader\/view\/feed\/http%3A%2F%2Ffeeds.feedburner.com%2FGregorus\">Gregor.us<\/a> by <strong class='StrictlyAutoTagBold'>Gregor<\/strong> Macdonald&#160; <\/p>\n<blockquote>\n<p><em>Liebig\u2019s Law of the Minimum, often simply called Liebig\u2019s Law or the Law of the Minimum, is a principle developed in agricultural science by Carl Sprengel (1828) and later popularized by Justus von Liebig. It states that growth is controlled not by the total of resources available, but by the scarcest resource (limiting factor). This concept was originally applied to plant or crop growth, where it was found that increasing the amount of plentiful nutrients did not increase plant growth. Only by increasing the amount of the limiting nutrient (the one most scarce in relation to \u201cneed\u201d) was the growth of a plant or crop improved.This principle can be summed up in the aphorism, \u201cThe availability of the most abundant nutrient in the soil is as available as the availability of the least abundant nutrient in the soil.\u201d<\/em><\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/i0.wp.com\/ishmaels.net\/blog\/wp-content\/uploads\/2011\/01\/UnitedStatesEmployedPersonsinMillions20002010revised7JAN2010.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" title=\"United-States-Employed-Persons-in-Millions-2000-2010-revised-7-JAN-2010\" style=\"border-top-width: 0px; display: block; border-left-width: 0px; float: none; border-bottom-width: 0px; margin-left: auto; margin-right: auto; border-right-width: 0px\" height=\"569\" alt=\"United-States-Employed-Persons-in-Millions-2000-2010-revised-7-JAN-2010\" src=\"https:\/\/i0.wp.com\/ishmaels.net\/blog\/wp-content\/uploads\/2011\/01\/UnitedStatesEmployedPersonsinMillions20002010revised7JAN2010_thumb.jpg?resize=569%2C569\" width=\"569\" border=\"0\" \/><\/a> <\/p>\n<p>HSBC has released a fanciful report this week that forecasts a <a href=\"http:\/\/www.telegraph.co.uk\/finance\/economics\/8239707\/HSBC-sees-China-and-America-leading-global-mega-boom.html\">trebling of world economic growth<\/a> between now and the <strong class='StrictlyAutoTagBold'>year<\/strong> 2050. It\u2019s a <strong class='StrictlyAutoTagBold'>reminder<\/strong> that most in the global <strong class='StrictlyAutoTagBold'>financial<\/strong> community, informed by neo-classical economics or Abundance Economics, do not understand limits to the system. The work has already been done, however, on limiting factors in natural systems and now that oil is no longer available to fund new economic growth it would behoove the <strong class='StrictlyAutoTagBold'>financial<\/strong> <strong class='StrictlyAutoTagBold'>community<\/strong> to become familiar with these theories. Leibig\u2019s Law, for example, has the most relevancy today as oil\u2013the high density energy source that built out Western societies over the past century\u2013becomes the limiting factor to growth. Indeed, we see that reflected now in the <strong class='StrictlyAutoTagBold'>US<\/strong> economy\u2019s inability to produce enough jobs to meet its own carrying capacity. The US, and the West, have permanently lost access to the cheap energy inputs that would allow their economies to recover.<\/p>\n<p><em>-Gregor<\/em><\/p>\n<p>Citation and Further Reading: <em>Liebig\u2019s Law of the Minimum<\/em>, <a href=\"http:\/\/en.wikipedia.org\/wiki\/Liebig's_law_of_the_minimum\">Wikipedia<\/a>. | <em>Essential Elements for Plant Growth\u2013Law of the Minimum<\/em>, <a href=\"http:\/\/www.soils.wisc.edu\/~barak\/soilscience326\/lawofmin.htm\">University of Wisconsin<\/a>. | <strong class='StrictlyAutoTagBold'>United States<\/strong> Bureau of Labor Statistics, Total Employment Data through December 2010 updated 7 <strong class='StrictlyAutoTagBold'>January<\/strong> 2010, <a href=\"http:\/\/www.bls.gov\/data\/#employment\">BLS.gov<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is something else that I had not connected the Dots on.&#160; The more I read the more I learn, but this makes sense to me.&#160; As the price of energy goes up the possibility of economic growth will stabilize and maybe go back down.&#160; It also has coorelation to the \u201cnaysayers\u201d not believing that we have probably reached \u201cpeak oil\u201d.&#160; I now believe that &#8216;\u201dpeak oil\u201d is a situation of several factors and not a specific point.&#160; Whether we&#160; have really reached the exact maximum production is unknown but we are seeing the outcome of Supply vs. price vs Demand interaction at these levels.&#160; &#8211; WD0AJG Structural Unemployment in America and Liebig\u2019s Law <\/p>\n<\/p>\n<p><p>from Gregor.us by Gregor Macdonald&#160; <\/p>\n<p>Liebig\u2019s Law <\/p>\n<p><a href=\"https:\/\/www.ishmaels.net\/blog\/2011\/01\/09\/re-post-from-gregor-us-oil-vs-economic-recovery\/\">&#8220;And Now the Rest of the Story &#8211; &#8220;Re-Post from Gregor.us \u2013 Oil vs economic recovery<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-4335","post","type-post","status-publish","format-standard","hentry","category-uncategorized","odd"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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each side can only see what they want to see. There are not many open receptors for differing thoughts. Cases in point - Global Warming, Peak Oil, Republican vs. Democrat.... and on. My title could also read \"figures never lie but liars\u2026","rel":"","context":"In &quot;Life&quot;","block_context":{"text":"Life","link":"https:\/\/www.ishmaels.net\/blog\/category\/life-and-or-living-daily\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9012,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/12\/10\/global-oil-production\/","url_meta":{"origin":4335,"position":1},"title":"Global Oil production","author":"wd0ajg","date":"December 10, 2011","format":false,"excerpt":"Pulled this from the Gregor.Us blog.\u00a0 He does a good job of tracking the oil production, and prices and visiting the economy associated.\u00a0 \u00a0 As he said, for 6 years now the predicting people have said that the price of oil will come down.\u00a0 I wonder when that is going\u2026","rel":"","context":"In \"BBS\"","block_context":{"text":"BBS","link":"https:\/\/www.ishmaels.net\/blog\/tag\/bbs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6414,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/05\/27\/speculators-or-demand\/","url_meta":{"origin":4335,"position":2},"title":"Speculators or Demand?","author":"wd0ajg","date":"May 27, 2011","format":false,"excerpt":"Nice layout of the idiots in Washington grasping for excuses. \u00a0Excuses for them having not done what we sent them up there to do or for having promised crap and we believed it!. \u00a0- WD0AJG from\u00a0Gregor.us by\u00a0Gregor Macdonald Persistent strength in the price of oil has once again unleashed\u00a0maximum nonsense\u2026","rel":"","context":"In \"BBS\"","block_context":{"text":"BBS","link":"https:\/\/www.ishmaels.net\/blog\/tag\/bbs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5222,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/03\/07\/stupid-people-say-stupid-things\/","url_meta":{"origin":4335,"position":3},"title":"Stupid People say Stupid Things!","author":"wd0ajg","date":"March 7, 2011","format":false,"excerpt":"It is constantly amazing to me that \u201ceducated\u201d people can be so stupid.\u00a0 On a recent news items they were interviewing people about why the price of oil is so high.\u00a0 A common statement is \u201cThose big oil companies are doing it on purpose\u201d.\u00a0 Damn that has been around for\u2026","rel":"","context":"In \"BBS\"","block_context":{"text":"BBS","link":"https:\/\/www.ishmaels.net\/blog\/tag\/bbs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4210,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/01\/01\/energy-oil-production-and-the-outlook-or-lookout\/","url_meta":{"origin":4335,"position":4},"title":"Energy , oil production and the outlook? or LOOKOUT!","author":"wd0ajg","date":"January 1, 2011","format":false,"excerpt":"From Gregor.us Happy New Year from The North Sea. Or, Secrecy By Complexity The dramatic fall of Mexican oil production, and its largest field Cantarell, is often cited as a signature example of the problems facing Non-OPEC supply. Since the production highs of 2004-2005, Mexican production has lost over 800\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2010\/12\/North-Sea-Crude-Oil-Production-2008-2010.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2010\/12\/North-Sea-Crude-Oil-Production-2008-2010.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2010\/12\/North-Sea-Crude-Oil-Production-2008-2010.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":11604,"url":"https:\/\/www.ishmaels.net\/blog\/2012\/04\/30\/hitting-the-peaks-maybe\/","url_meta":{"origin":4335,"position":5},"title":"Hitting the PEAKS?  Maybe?","author":"wd0ajg","date":"April 30, 2012","format":false,"excerpt":"Picked this up from ZeroHedge blog. The comments on this run from OK to way out there. \u00a0I do not agree on the peak oil chart that production will drop as fast as the chart indicates... I feel it may be more of a stable production level for several years\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/posts\/4335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/comments?post=4335"}],"version-history":[{"count":0,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/posts\/4335\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/media?parent=4335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/categories?post=4335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/tags?post=4335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}