What the market is pricing as cyclical volatility is actually a phase transition. Industrial civilization is shifting from an era of energy abundance to energy constraint. This is not temporary or reversible through technology or policy—it is thermodynamic reality asserting itself against monetary abstraction.

Pretty great article. Thanks for posting.

Perfect storm coming.

This has nothing to do with thermodynamics except that we are talking about energy. He just things that word makes him look smart and scientific.

It is just fossil fuel getting more expensive and available reserves getting harder to extract. Also, mostly ignoring non-fossil fuel sources. So the problem according to this is ESG and potential future global warming regulations causing underinvestments in fossil fuel extraction and infrastructure, leading to long term increased energy costs.

“End of industrial abundance” that isn’t what’s happened.

AI Bros: “Time to speed run that shit!”

Hmmm.