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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (1672)10/22/2007 1:34:44 AM
From: the navigator   of 71456
 
Factor this in:

oil production and economic growth - percent decline in oil availability is approximately equal to percent decline in world GDP. If one calculates a range of 2-5% per year increase in oil shortage then world GDP will decrease 2-5% per year.

energybulletin.net

Peak oil means peak economy - Hirsch (podcast)
David Strahan, The Last Oil Shock
When global oil production peaks, the economy is likely to shrink in direct proportion to dwindling fuel supplies, says Dr Robert Hirsch of the thinktank SAIC.

Speaking at the Association for the Study of Peak Oil conference in Houston, he also warned that as peak approaches, producer countries including OPEC and Russia are likely to husband their reserves for future generations and limit exports, potentially sharpening the decline in oil available to importing nations.

Dr Hirsch is the author of a groundbreaking report for the US Department of Energy which highlighted the long lead-times and other limitations of purely supply-side responses to peak oil. In an interview with lastoilshock.com on the sidelines of the Houston conference, he went on to argue that fuel rationing will be an essential part of any policy response, and predicted that such measures would be introduced even in the United States.

Listen to the interview with Robert Hirsch.
(18 October 2007)
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