Thursday, December 5, 2013

Tiffany's principle of mineral supply: it doesn't matter how much of it there is, it matters how much it costs




(it holds also for crude oil)


7 comments:

  1. Ugo, as you pointed out elsewhere, the prices are trending down (debt deflation). However, if you look at US crude oil production from 1920 till now it looks impressive indeed!

    Climate, of course be damned...

    Alex

    ReplyDelete
  2. Yes, the trend is still weak, but it is there. And it is a very bad thing if it continues

    ReplyDelete
    Replies
    1. Upon rethinking.... it is a good thing for climate

      Delete
  3. So in short, to us ladies, you will be giving barrels of oil instead of a simple diamond? From carbon to hydrocarbons?

    ReplyDelete
    Replies
    1. Diamonds are forever, oil, instead.........

      Delete
  4. Diamonds are NOT forever. They're metastable...

    ReplyDelete
  5. Diamonds are Carbon. You could burn them to cook your food!

    Anyhow, that wege is getting tighter by the day between what it costs to produce vs what consumers can afford to pay.

    Rock, meet Hard Place.

    RE

    ReplyDelete

Who

Ugo Bardi is a member of the Club of Rome and the author of "Extracted: how the quest for mineral resources is plundering the Planet" (Chelsea Green 2014)