It's actually far more gruesome than this. Think less guillotining outside the palace of Versailles because nobody can afford bread, and more just mass starvation while glowniggers and billionaires retreat to their armed bunkers
blogs.scientificamerican.com
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for every unit of energy we spend on extracting oil, we generally get at least twenty back because it doesn't take that much to extract it. That's a net energy return on investment of 20 times to spend on all kinds of things like heating, transportation. All the of energy required to sustain modern life amounts to a pre-industrial person having a swarm of servants putting in labour for them, the Roman empire was built off of less efficient pre-industrial human slavery and I assure you the average person lived in below African-level conditions.
Some of the less retarded (reliant on rare Earth metals) approaches, like harvesting uranium from the ocean using fibrous material that basically filters it out and turns it into yellowcake (google it), currently have an estimated EROI of about 4.
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Hydroelectricity is pretty good but limited by geography. What happens when we have less net energy to spend on all sorts of economic activities, from manufacturing, to running computers, to growing and transporting food? The population is still growing so the availability of all of those things per capita probably starts to go down. This doesn't jive well with the framework of the system. This isn't even considering the fact that people are reliant on healthcare, public education, welfare, etc.
www.resilience.org
Most densely populated areas, such as New York State which can only feed 20-30% of its present population assuming maximum agricultural efficiency, cannot feed themselves. What would happen if the cost of food were to triple? I'm sure the industrial processes that keep the physical apparatuses of the system running will be prioritised over the average urbanite too, so I wouldn't be surprised if all of your bills and expenses go up by an order of magnitude.
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As you already know, discoveries of oil are already petering out. Demand is still increasing. The sheer amount of energy that oil has allowed to be demanded in the first place will not be covered in a hundred years by renewable energy. The resources required for the third world to attain a first world standard of living like they're trying to do aren't just very finite, they don't exist.
Currently estimated lithium reserves aren't enough to electrify every car on Earth, let alone our entire transportation infrastructure. You might say that this is fine, as current reserves are depleted it will become economically viable to go after shittier lithium, but do remember that shittier lithium is more energy intensive to extract and this comes at a time when we are kind of short on that.
It doesn't take a genius to see that the numbers don't add up. People are going to starve to death. Hell, people reading this are going to starve to death.