Peak Oil: Energy moving from economic realm to political one
The great power conflicts of the late 19th and early 20th century suddenly seem eerily familiar. I have often heard it said that the market will eventually solve all these problems. Higher prices will ration demand and drive the innovation and conservation measures needed to reduce our dependency on oil and gas - and in the process rescue us from climate change. It is a nice thought. Eventually, though, may well prove to be too late. Markets cannot second-guess power politics.
Jerome is one of my favorite bloggers and I am always up for more Peak Oil info so - this diary was a treat to find! Good reading. I hope you enjoy it too.
Tags: Peak Oil, Oil energy Market economy economics