Migrating to New Energy Paradigms Part 2 – The Economic Importance of Crude Oil

…Emerging energy paradigms drive technological innovations by entrepreneurs, which, as a consequence of their commercialisation and market penetration drive the world economy.

Armed with this understanding, we see that the US’s (and Australia’s) failure to ratify the Kyoto protocols was life threatening to all of humanity. The core issue had nothing to do with CO2 emissions. The core issue had to do with the march to market of new energy related technological innovations which would drive the world economy. Failure to ratify the Kyoto protocols was an attempt to block the forces of Nature so as to protect the interests of those whose financial interests were dependent on the previous (oil and coal) related energy paradigms.

Armed with this understanding, the behaviour of the World’s Central Bankers is exposed for what it is: foolishness and arrogance. The Central Bankers genuinely (but mistakenly) believe that, by managing the money supply, they can flatten the amplitude of a repetitive cycle of a biological phenomenon of Nature. The economy pulsates with a strong heartbeat of its own. It has no need of pacemakers or defibrillators.

From another perspective, the Central Bankers and Politicians should understand this: There will be consequences if you attempt to