The lie of scarcity:

“The belief that resources are scarce and limited is a misunderstanding of the nature of scarcity, which is the key concept behind economics.

The absolute quantity of every raw material present in earth is too large for us as human beings to even measure or comprehend, and in no way constitutes a real limit to what we as humans can produce of it. We have barely scratched the surface of the earth in search of the minerals we need, and the more we search, and the deeper we dig, the more resources we find. What constitutes the practical and realistic limit to the quantity of any resource is always the amount of human time that is directed toward producing it, as that is the only real scarce resource (until the creation of Bitcoin).”

- nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak

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Discussion

I work in the oilfield and have been hearing same question of when it’s going to run out for over 20 years now. Nobody seems to like the answer, as if it’s blasphemy to suggest we will just find more and price according to supply and demand. That quote resonated more with me than anything else in his books.