GAME OVER

A production drop of a few percent can cause prices to skyrocket by several hundred percent.

Military Study Warns of a Potentially Drastic Oil Crisis
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http://www.spiegel.de/international/germany/0,1518,715138,00.html



MARKET FAILURES

The authors (of the study) paint a bleak picture of the consequences resulting from a shortage of petroleum. As the transportation of goods depends on crude oil, international trade could be subject to colossal tax hikes. "Shortages in the supply of vital goods could arise" as a result, for example in food supplies. Oil is used directly or indirectly in the production of 95 percent of all industrial goods. Price shocks could therefore be seen in almost any industry and throughout all stages of the industrial supply chain. "In the medium term the global economic system and every market-oriented national economy would collapse."


GLOBAL CHAIN REACTION

"A restructuring of oil supplies will not be equally possible in all regions before the onset of peak oil," says the study. "It is likely that a large number of states will not be in a position to make the necessary investments in time," or with "sufficient magnitude." If there were economic crashes in some regions of the world, Germany could be affected. Germany would not escape the crises of other countries, because it's so tightly integrated into the global economy.


CRISIS IN POLITICAL LEGITIMACY

The Bundeswehr study also raises fears for the survival of democracy itself. Parts of the population could perceive the upheaval triggered by peak oil "as a general systemic crisis." This would create "room for ideological and extremist alternatives to existing forms of government." Fragmentation of the affected population is likely and could "in extreme cases lead to open conflict."

Category:

News & Politics

Tags:

• oil
• peakoil
• yt:stretch=16:9
• peak oil
• supply
• demand
• crisis
• global
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• future
• wealth
• society
• apocalypse
• war
• riot
• depletion
• inflation
• energy
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• economy
• finance
• financial
• 1929
• exponential
• collapse
• crash
• reserves
• esso
• bp
• british petroleum
• aral
• star
• shell

[mystico09]

Awesome music... what is it?

[halo2pc]

@mystico09

Sorry, that mp3 file was taken from a pool of more than 500 GB data. It's almost impossible for me to find that particular song again. If I should find it sooner or later, I will come back to you.

[yourmajezty]

net-energy will hit us before peak does. it already has

[Phantastine]

Sehr interessant zum Thema ist der Roman "Ausgebrannt" von Andreas Eschbach, außerdem sehr unterhaltsam.