Richard Heinberg: "We Have Reached The Global Limits To Growth"

A year ago, oil price reached a record $ 147 per barrel. The whole world turned to Saudi Arabia, the traditional swing producer, for extra production to quench its oil thirst. But the Kingdom declared it was unable to do anything about it, signaling the end of cheap oil and thus long term economic growth, and triggering a huge economic crisis which temporary slashed oil demand, price and investments in future production. A reknowned author of several books on resource scarcity, Richard Heinberg reflects on this historical event, its consequences for mankind and future perspectives in an exclusive interview for Voltaire Network.

Voltaire Network: We were told by most media that the origin of the financial crisis is to be found within the financial system. Is that satisfactory to you or, as you hinted with foresight in