The Null Device

The end of cheap oil

According to this article, the recent rise in oil prices has reduced petrol consumption in in Germany and Belgium by 10%, which is more than the embattled Kyoto protocol could have hoped for by 2012.

Also via 1.0, Steven Levitt (author of "Freakonomics") argues that fear of Peak Oil is just scaremongering, and that supply and demand will take care of necessary adjustments to cope. Which is debunked by one Dmitry Podborits, who points out that the adjustments may well include mass starvation, war, or the end of the happy consumer society and the decline into a new age of cut-throat austerity, where life is once again nasty, brutish and short for the wretched remnants of humanity scrabbling like rats over the dwindling leftovers; or, at the very least, the end of things we take for granted, from comfortable living in uncomfortable climates to widely available air travel and easy global trade. In other words, the 20th century may have been as good as it gets.

There are no comments yet on "The end of cheap oil"