Rob Hopkins, founder of the Transition Movement, quotes a brief but pointed analysis from a new report by Dr Tim Morgan called ‘The Perfect Storm: energy, finance and the end of growth‘, published by FTSE 250 company Tullett Prebon, saying:
“It’s stirring stuff. His analysis of why we have ended up in our current economic predicament runs thus:
He offers the best, and most to-the-point discussion of why energy return on energy invested (EROEI) matters, and why peak oil ought not be thought about as just the end of cheap energy, rather as the end of energy with a low EROEI.
Hopkins then quotes from a ‘fascinating post’ by Karen Leach of Localise West Midlands on the REconomy site, which gives him a sense of why what she calls “community economic development” or on this website we might call REconomy or “community resilience as economic development” is so different from the current all-prevailing approach, and why it addresses our needs far better.
Writing about their excellent recently published report ‘Mainstreaming Community Economic Development’, she summarises the report’s finding thus: