Peak Oil and Climate Change: Re-Tooling Transportation

Powered by cheap oil, the circulatory system of our economy has globalized, expanding populations, wealth, specialization beyond all historical measure. Yet the founding assumption of our success has failed and we are coasting on the momentum of cheap oil. Increasing supply of cheap oil peaked in May 2005. Since that peak gas prices and home foreclosures have skyrocketed as more and more people cannot afford their commute, food and house payments. The evaporation of Bear Stearns (BSC) indicates the accelerating rate of consequences.
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