The peak oil economic depression has arrived

Both increasing unemployment and declining stock values indicate that we are entering an economic depression similar to the Great Depression. Although it is difficult to determine how much of this economic depression is caused by Peak Oil impacts and how much stems from mismanagement of the economy as well as from business and government corruption, Peak Oil plays a major role.

The 2008 oil price spike and the airline industry

In July 2008, the price of crude oil reached an historical high level of US$147 per barrel. However, as a consequence of falling demand over the following six months, the price declined by well over 60%. This article examines the causes behind the oil price spike, which has become a serious commercial threat to many airlines.