I’ve been watching. And taking note. Europe reached peak oil production in 2000. And down from that peak by 50% over the following 13 years. Roughly a 13% annual decline in production. That’s a scary figure against the Chicago school of business model of endless growth. Particularly when considering the true economic relation between energy and economic growth, 10x the standard model, proven by Robert Ayres, though generally suppressed.
The rest of the world appears to be top of the peak presently.
Time to hone up the DOW skills. The best time to have a skill is before you truly need it.