Like it says in the highly acclaimed DVD "Blind Spot"; "If we keep burning fossil fuels, our ecology will collapse, and if we stop burning fossil fuels our economy will collapse". If we keep pumping in CO2 to the atmosphere, the tipping point of methane self-release occurs (some think we are AT that tipping point), and the biosphere becomes unlivable at a rate that is too fast for adaptation for most life. It doesn't matter where the CO2 comes from; fossil fuel burning, forest burning, volcanic increase, or bio-fuels.
Overpopulation itself is collapsing the world economy even without peak oil. Too many people>not enough jobs>lowered incomes>depression
too many people>higher demands>higher prices>depression
These effects are only delayed a little with continued fossil fuel and bio-fuel burning. If fossil fuels or bio-fuels are burned at a continued rapid rate, eco-collapse occurs with economic collapse prior.
Too many people producing too much CO2, depletion of various critical resources, too much other pollution all lead to first population collapse, then eco-collapse on a planetary scale.
If there is a solution; it entails reducing birth rate to a small percentage of present (less than 10%), and reducing burning to a fraction of what it is (10 to 20% of present), both instituted within a few years, along with a steady state economy. As that time is breached, the percentages get even smaller, until they become negative (i.e. higher death rates with no births, and carbon sequestering only with no burning at all---in reality an impossible situation).
Bio-fuels will not help, except to make a very temporary profit for some. They will not be able to eat the money that is worthless.
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