Cheap oil = Foreign imports. Huge houses. Big cars. Binge flying.
Expensive oil = Local food. Local industry. Small cars. Fewer flights.
Our civilization as we know it is entirely dependant on cheap oil. & that civilization is about to get the shock of its life. Our systems of trade, finance, shipping & manufacturing, of labour & international relations are all going to be affected as oil supplies dwindle & prices fluctuate wildly. Soaring energy costs are not going to get thrown into permanent reverse; but, as a direct result, the machinery of globalization certainly will.
For years Jeff Rubin has been accurately predicting how the world's dwindling oil supply will affect oil prices. Now he shares his predictions for what is going to happen next, including how oil prices will bounce back after the current economnic crisis & why permanently cheap oil is now a thing of the past. He explains why the conventional rules of economics don