Ch 7. Energy: The Transition from Depletable to Renewable Resources. Energy is one of our most critical resources
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Energy: The Transition from Depletable to Renewable Resources
(1) more of the resource is left in the ground,
(2) the rate of consumption is too high,
(3) the time of transition is earlier, and
(4) the transition is sudden, with prices suddenly jumping to new, higher levels
P in Q* supplied at P *.
P rather than helping them.