CIBC's chief economist. The important thing is that this won't be a price spike, but just the cost of maintaining the current growth patterns.Over the past one hundred years, we have been able to plow through obstacles and limits to growth by throwing cheap energy at them (which makes even inefficient increases in social/economic complexity, viable). What happens when energy isn't cheap anymore, but rather moderately expensive? Do those past increases in complexity come back to haunt us? Yes.