You may have heard deflation is a bad thing, something to be feared. This might have been true in a scarcity based economy, but the opposite is true in an abundance based economy. No where is this more true than in the information technology sector, where annual deflation runs well over 50%. This is a huge rate of deflation, yet it comes from a sector of the economy that generates the most robust economic growth each year. Deflation is the result of advancing technology that generates greater efficiencies resulting in ephermalization – doing more and more with less and less. Ephermalization is now impacting the energy markets in earnest. Soon, energy is about to become even cheaper than it already is, despite falling oil prices. Below are two articles you should read, back to back. The first is a projection from Citigroup, a traditionally conservative institution, that advancing battery technology is going to be even more disruptive than solar, supplanting the entire fossil fuel industry withing the next *decade*. The second is a brilliant explanation of Saudi Arabia’s smart and prescient move to drop oil prices. Time is running out for fossil fuels to remain competitive, so with each passing day remaining reserves are becoming less valuable. Soon they will be worthless. Better to make some money now while the world still needs your oil, than none later when the world has moved on to something better.
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