Hello everyone, Dr. Chris Martinson here back with you. And as you know, I like to talk about a lot of different subjects and connect them. That's what I am. I'm a teacher. I'm an educator. I'm a dot connector. And hopefully I leave you with insights that you can use to become more resilient and secure a better future for yourself. So today I want to talk to you about, again, where we're going economically,

because I believe that the economy is going to harm far more people than COVID,

even our COVID responses, as draconian and as awful as they were.

The economic decline that's coming is going to hurt a lot more people.

And if forewarned, it's forearmed, and if you you can see what's coming then you have a chance to do something about it

proactively so let's go there right now uh-oh there goes the economy here's my thesis let's talk

about it first up i'm going to repeat this energy is the economy particularly oil You can see here on this chart that we have GDP on the

y-axis heading up and across the X is oil consumption. This is across many years. It starts in

1975 on the left. This data goes through 2021, courtesy of the awesome data found at the BP statistical review.

I hope they keep putting that out because it's an amazing piece of data for us to work with.

And what we see here is a straight line relationship, that if you're going to have more economy,

you're going to be consuming more oil. This is just in thousands of barrels. This isn't price of oil.

It has nothing to do with it. It's that if you're going to have more economy, you are going to be

burning more oil. Another way to look at this is this is looking at electricity per capita.

How many people you have in your country, your population, divided by, on the x-axis over there, your GDP,

again, per capita. What we can see here is very clear that, look at this, no such thing

as a low-energy-rich country. So, richer countries would be arrayed along the x-axis,

so you can see that curve as you get up there, all those blue dots those would be considered wealthy or rich countries and down there in the yellow orangish dots

Not so rich not so poor countries and so on a per capita basis those same countries that are poor are

Consuming less electricity or providing less electricity per capita and they have a lower GDP per capita.

So the less energy you're using, the less prosperous you are.

It's a very simple relationship, so we ought to be keeping our eyes on energy, energy, energy.

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