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Politics : Politics of Energy

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From: Eric3/25/2009 4:21:59 PM
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Where we are headed: Peak oil and the financial crisis

Posted by Gail the Actuary on March 25, 2009 - 9:07am
Topic: Economics/Finance
Tags: financial crisis, overview, peak oil [list all tags]

Nearly all of the economic analyses we see today have as their basic premise a view that the current financial crisis is a temporary aberration. We will have a V or U shaped recovery, especially if enough stimulus is applied, and the economy will soon be back to Business as Usual.

I believe this assumption is basically incorrect. The current financial crisis is a direct result of peak oil. There may be oscillations in the economic situation, but generally, we can't expect things to get much better. In fact, there is a very distinct possibility that things may get very much worse in the next few years.

In this post, I will put together some of the pieces I see. This post is based on a presentation, so includes more than the usual amount of graphics. The post repeats many things I have said before, but I wanted to bring more of the pieces together into more of an overview article. This is a link to a PDF version of the presentation. This is a link to the Powerpoint version.........

theoildrum.com
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