There is supporting evidence in the finances of the major international
oil companies. Exxon, Mobil, BP & Shell all report low profit results.
Of those only Shell comes out and spells it out loud.
Shell has stated that they are planning to leave the oil industry and
concentrate on natural gas.
Shell has been selling oil assets so that they can pay dividends.
Those are only straws in the wind of intention so do not expect Shell
service stations to disappear overnight.

Declining EROEI doesn't necessarily mean that prices (like that of oil) will rise since squeezed net incomes could reduce affordability. We interpret lower prices as a sign that things can't be too bad but hypothermia sufferers sometimes take off their jacket as they no longer feel cold. The antidote in both cases is more energy or warmth.

The middle class got to where it is today after WW2 through oil, coal, hydro, rich mineral deposits, vast forests and increasing numbers of willing workers. Now we have the workers but not increasing resources. With oil depletion some industries like aviation must shrink whether fares go up or not. Food production and distribution with an EROEI of 0.1 must get more difficult. That is 10 kJ of tractor fuel, fertiliser, packaging, refrigeration and transport for every kJ eaten.

If as some suggest we need an EROEI > 8 for major energy sources then solar PV with batteries with an EROEI of 1.5 (according to Weissbach et al) can no longer grow the world economy. We'll find this out the hard way. Alan B. has suggested an energy source with a high EROEI but the punters don't accept it.

Jonathan has no idea like most of our delusional elites. It is the debt money creation system that is causing economies to stagnate. When they went off the gold standard in 1971 the creation of money as debt by our private bankers began in earnest.

Debt compounds like interest and after 46 yrs, the debt is 3 times the GDP of the planet and cannot be repaid.It now takes exponentially more debt creation to pay for the debt of yesterday.It is like you using one credit card to pay off another.

Even if they have a debt jubilee i.e. debt forgiveness, the system cannot be saved since the system has sold our debt back to us in the form of bonds which many of our super funds invest heavily in.
After the 2008 crisis,the new debt went into propping up shares,derivatives and the bankers and not the real economy. The debt has doubled since 2008.They knew this system would collapse and now our MSM warns us about Economic Armageddon, but this is too late. http://www.news.com.au/finance/economy/australian-economy/australia-headed-for-economic-armageddon/news-story/998390d5128ed69e8799db3de9efe52d

Well Arjay, debt is the problem. The reason such debt got generated
was because the falling GDP and growth caused the need for debt.
If growth does not generate surplus GDP the money is not there to do "things".
So debt is the way around that.
However this era of low or zero growth is permanent so there will
never be the surplus GDP to repay the debt.

Once the financial world wakes up to this then it will hit the fan.
Leave you money in the banks and the Financial Stability Board will get it.

Jazz you will find this very interesting . http://www.youtube.com/watch?v=-NAxzPGp7yk&feature=share The Asian banks are going to use block chain technology to eliminate cash. If the bankers eliminate cash then there will be no run on the banks when TSHTF.

Bazz,
Money doesn't have to be borrowed into existence.
It's ink and plastic no different than you find in a recycle bin.
Private Central Banking forces this ideology of borrowing onto us.
It's essentially a Ponzi Scheme.

I suggest watching 'All Wars Are Bankers Wars'.

http://www.youtube.com/watch?v=SKnF1HEUwuo