Peak Oil/Sustainability

What is the Tragedy of the Commons?

This technical term comes from days gone past when all villagers held a piece of land in ‘common’, each villager was able to put as many animals to graze upon it as they wished. For any individual, the situation was clear:

“If I put one more animal on the common, I would improve my lot”.

Trouble arose when every villager acted upon that calculation, with the end result that the common became over-grazed, the animals were weak through malnourishment and the common land became threadbare.
The situation remained however for any individual: another animal was a bonus.

Thus individual advantage was inevitably accompanied by village poverty.

Energy Economics and Fossil Fuels

The Oil Drum (Economics of Oil/Gas)

The Oil Drum | Don’t count on natural gas to solve US energy problems.

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