If energy was 10 times cheaper than currently and still available (no shortage) then we would automate more tasks and increase the global productivity. We could mine more, build more, to train/run more LLMs.
GDP is tied to energy price and availability. It is likely the main reason why US enjoyed a growing economy thanks to its free oil reserves (and the reason why Texas alone is the 8th economy in the world). Now one could argue that after pumping oil for a century now, it might not be as cheap or plentiful to extract in the future, and we better be prepared for it.
It is all about energy. No energy, and we will reduce to human/manual or animal (bring back the horses!) labor. Productivity will decrease significantly.
One issue I have with the paper, is that it equates energy and electricity. My favorite chart about US energy: https://flowcharts.llnl.gov/sites/flowcharts/files/2023-10/U...
shows that in 2022, electricity was just 13.3 Quads of the 76.07 Quads of the energy consumed in US by residential, commercial, industrial and transportation. So unless US "electrify" the whole economy having more electricity would only help a small part of the economy.