Peak Oil is You
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Page added on November 8, 2010
Oil and The Death of Globalization
Canadian Economist Jeff Rubin is known for his prescient calls in the oil markets over the past few decades. His most recent book, Why Your World is About to Get a Whole Lot Smaller, explains why continuously rising oil prices will mean the end of globalization.
Jyskebank.tv caught up with Rubin at the Global Wealth Management seminar in Copenhagen to talk about how rising oil prices will affect everything from home loans to the price of Salmon.
3 Comments on "Oil and The Death of Globalization"
KenZ300 on Tue, 9th Nov 2010 12:18 am
Clean, sustainable alternative energy produced locally, providing local jobs is what is needed.
Simon in BC on Tue, 9th Nov 2010 12:57 am
I agree with the over point but the specific examples – no. The actual cost of transportation by ship or rail or even truck is such a small eprcent of the total cost of the product being shipped that you could increase it 10 fold (probably likely in the next 20 years) and still only have a very small affect on the total cost of the product. This is most true with transportation by ship, then rail, then truck.
Timson on Tue, 9th Nov 2010 9:57 am
I agree with Simon. A carrier uses about 18 liters of fuel per 1000km per container. That’s roughly 200 liters per container for a trip China-Europe,With prices now at 0.60 euro per liter that makes a 120 euros. I pay 400 euros just to get the container off the ship in the harbour and another 300 dollars “administration”. Triple digit oil prices are gonna hurt a lot of economies, but is not going to stop global economy…