Oil, Economics, and Politics–a tangled web of consequences
It will come as little surprise to most readers that the world is near to, or past, peak world oil production. Petroleum is so essential to the economics of transportation that many believe when oil peaks, the global economy must also shrink in terms of the total output of goods, even as the population increases. Most who study peak oil and accept the findings of the Hirsch Report do not expect a lasting economic recovery, likely for decades.


