While demand drives supply, it should also be kept in mind that there are two measures of prosperity - one being overall supply and the other median supply. As long as the overall supply keeps increasing, the nations can maintain themselves, yes. The other, median supply - that determines on the ground prosperity of the median citizen.

In the west, is the median supply of coal/oil (aggregated consumption for producing the final goods) increasing year by year?

Expand full comment

Former reader of The Oil Drum?

Expand full comment