The failure of networked systems: The repercussions of systematic risk revisited
There are those among the Peak Oil community who suspect that we could be facing a failure of our interdependent society that may be sudden, profound, and complete. I have repeatedly said that I am not numbered among them. My opinion is that our way of life will have to change significantly, but slowly. I don’t expect to be clubbing anybody with a femur in any foreseeable future. This opinion is on record in both print and electronic media, and I don’t expect to be issuing a retraction any time soon–but a recent event forced me to admit that I may have to hedge a little.


