when you change the price of oil as
dramatically as has happened over the
last decade you just don’t change the
speed at which you can drive your car
you change the speed at which your
economy can grow and I think that has
some pretty major implications that most
of our policymakers and governments have
yet to understand you see skyrocketing
oil prices are just part of the problem
hi I’m Rebecca Britain and welcome to
watchmojo.com and today we’re speaking
with Jeff Rubin about the end of growth
we’re not going to be able to grow at
the same pace that we have in the past
and not just us I mean China as well and
the problem is that when we try to get
the economy to grow at the old growth
rates either through zero interest rates
or a trillion dollar budget deficit we
just make the adjustment to triple-digit
oil braces that much more difficult and
you can see the consequences of that if
you look at countries like Greece and
Spain right now you mentioned that the
world’s economic order is shifting would
you mind expanding on that I mean it’s
shifting to new economic powers and the
new economic powers are China and India
and what’s allowed those economies to
grow so rapidly is China was an economy
that consumed two million barrels of oil
a day now it’s 10 million barrels a day
of oil the only problem is that oil
supplies really not growing that quickly
so if somebody’s like increasing their
oil supply by five times somebody else
has got to cut back their oil
consumption guess who that’s somebody
else’s us and guess what our economies
aren’t grow on the flipside are there
any countries that we can look to you
for positive examples of how to handle
themselves Japan I mean Japan is a
country that a year ago got thirty
percent of its power from nuclear it’s
all but shut down 54 nuclear reactors
since then and guess what you know I
mean Jay the Japanese have managed to do
that and they’ve managed to do this was
program called sit suit and energy
conservation and it means everything
from turning off the power and the
escalator and turning them into
airs the shutting off the lights to not
wearing a suit but some light clothing
so you can turn down the office air
conditioner in other words the things
that have made it successful and not the
decisions taken by the ministry of
finance in japan or the central bank of
japan it’s a decision is made by
everyday japanese and it was a big
lesson to be learned for that for the
rest of the world denmark is a very
interesting example it’s a country that
has lowered its carbon emissions below
its 1990 level in complying one of the
very few places that have complied with
its kyoto commitment but what’s really
intriguing about Denmark is that eighty
percent of its power comes from coal and
that’s the exact same percentage as
China only China’s carbon emissions are
soaring they’ve even overtaken the US
and Denmark’s emissions plummeted why
the answer is not the source of power
it’s certainly not about the twenty
percent of power that comes from
windmills it’s about the price of power
it costs thirty cents per kilowatt hour
to get power in Copenhagen what is the
cost here in Montreal 576 well guess
what like if mantra always have to pay
thirty cents per kilowatt hour you too
could reduce your carbon emissions
without building a single windmill the
outlook is not entirely week there were
some silver linings would you mind
telling us about them yes one is we’re
not going to be able to afford to cook
ourselves to death I mean if you look at
you know what the intergovernmental
panel on climate change is forecasting
in terms of carbon emissions in terms of
coal and oil consumption in the next 20
years assuming that China and India are
going to double their coal consumption
I’d like to ask those climate change
modelers exactly what price do you think
China is going to be paying for its kool
when it doubles its coal consumption
because coals are ready well over a
hundred dollars of time and I think what
you’ll find is that if you put in
realistic assumptions about coal prices
and oil prices that we’re not going to
emit half of the carbon that the IPCC
says we are not because of you know
ecologically conscious governments it’s
just we’re not we’re going to
not be able to afford the fuel so for
people who are concerned about what
we’re doing to the sustainability of the
planet for people are concerned about
you know temperature increases that
could totally devastate our environment
I think this is a very hopeful story
because it takes the future out of our
heads thank you very much thank you
dramatically as has happened over the
last decade you just don’t change the
speed at which you can drive your car
you change the speed at which your
economy can grow and I think that has
some pretty major implications that most
of our policymakers and governments have
yet to understand you see skyrocketing
oil prices are just part of the problem
hi I’m Rebecca Britain and welcome to
watchmojo.com and today we’re speaking
with Jeff Rubin about the end of growth
we’re not going to be able to grow at
the same pace that we have in the past
and not just us I mean China as well and
the problem is that when we try to get
the economy to grow at the old growth
rates either through zero interest rates
or a trillion dollar budget deficit we
just make the adjustment to triple-digit
oil braces that much more difficult and
you can see the consequences of that if
you look at countries like Greece and
Spain right now you mentioned that the
world’s economic order is shifting would
you mind expanding on that I mean it’s
shifting to new economic powers and the
new economic powers are China and India
and what’s allowed those economies to
grow so rapidly is China was an economy
that consumed two million barrels of oil
a day now it’s 10 million barrels a day
of oil the only problem is that oil
supplies really not growing that quickly
so if somebody’s like increasing their
oil supply by five times somebody else
has got to cut back their oil
consumption guess who that’s somebody
else’s us and guess what our economies
aren’t grow on the flipside are there
any countries that we can look to you
for positive examples of how to handle
themselves Japan I mean Japan is a
country that a year ago got thirty
percent of its power from nuclear it’s
all but shut down 54 nuclear reactors
since then and guess what you know I
mean Jay the Japanese have managed to do
that and they’ve managed to do this was
program called sit suit and energy
conservation and it means everything
from turning off the power and the
escalator and turning them into
airs the shutting off the lights to not
wearing a suit but some light clothing
so you can turn down the office air
conditioner in other words the things
that have made it successful and not the
decisions taken by the ministry of
finance in japan or the central bank of
japan it’s a decision is made by
everyday japanese and it was a big
lesson to be learned for that for the
rest of the world denmark is a very
interesting example it’s a country that
has lowered its carbon emissions below
its 1990 level in complying one of the
very few places that have complied with
its kyoto commitment but what’s really
intriguing about Denmark is that eighty
percent of its power comes from coal and
that’s the exact same percentage as
China only China’s carbon emissions are
soaring they’ve even overtaken the US
and Denmark’s emissions plummeted why
the answer is not the source of power
it’s certainly not about the twenty
percent of power that comes from
windmills it’s about the price of power
it costs thirty cents per kilowatt hour
to get power in Copenhagen what is the
cost here in Montreal 576 well guess
what like if mantra always have to pay
thirty cents per kilowatt hour you too
could reduce your carbon emissions
without building a single windmill the
outlook is not entirely week there were
some silver linings would you mind
telling us about them yes one is we’re
not going to be able to afford to cook
ourselves to death I mean if you look at
you know what the intergovernmental
panel on climate change is forecasting
in terms of carbon emissions in terms of
coal and oil consumption in the next 20
years assuming that China and India are
going to double their coal consumption
I’d like to ask those climate change
modelers exactly what price do you think
China is going to be paying for its kool
when it doubles its coal consumption
because coals are ready well over a
hundred dollars of time and I think what
you’ll find is that if you put in
realistic assumptions about coal prices
and oil prices that we’re not going to
emit half of the carbon that the IPCC
says we are not because of you know
ecologically conscious governments it’s
just we’re not we’re going to
not be able to afford the fuel so for
people who are concerned about what
we’re doing to the sustainability of the
planet for people are concerned about
you know temperature increases that
could totally devastate our environment
I think this is a very hopeful story
because it takes the future out of our
heads thank you very much thank you
Please follow and like us: