Time to get the facts and fiction right on the oil crisis

…History suggests that the first half of the oil age has just closed. It lasted 150 years and saw the rapid global expansion of industry, transport, trade, agriculture and financial capital and allowed huge increases in populations.

Alas, the second half now dawns, and will be marked by the decline of oil and all that depends on it, including financial capital.
…Despite the assurances from western governments that inventories are sound or a mild winter is expected, this kind of pressure exceeds anything we have experienced so far. The cost of everything from travel, heating, agriculture, trade and plastics rises. And the scramble to control oil resources intensifies.

For the west that will mean, at best, kissing your lifestyle goodbye and, at worst, the foundations for world war three.

ITP