post oil or bust

We don’t really know what lies over the horizon, Financial Times:

The world is now headed towards economic conditions that will entail not only cyclical but structural change: a damaged financial sector, an overstretched consumer base, rising energy prices, and shortages of food, water and other natural resources so severe that they could heighten global and regional tensions. These factors, combined with new external ones like carbon pricing, all point to one thing: a crisis of confidence in growth.

Although resource scarcity will have severe effects, it will also herald a period of creative destruction in which new policies and new entrepreneurs will radically transform the vast complex of energy-related industries.