Oil 101: 5/14
…“This makes oil absurdly cheap relative to the work it performs.
Economic textbooks and business school classes teach that energy’s contribution is its dollar price tag, in effect. The cost share of oil is equal to the value it provides, but the cost we pay is orders of magnitude smaller than the value it provides for us. This is the deepest subsidy in the history of civilization, and it’s mostly invisible except in energy crises like now…
Jonathan Schofield
npub1hf…rpfwr
2026-04-11 10:46:07 UTC
in reply to nevent1q…sxng
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