Running On Empty: The End Of The Oil Age
31 May 2005 - 8:00am
Some experts warn that the world is heading for a state of permanent oil shortage.
"Some observers predict that this year, maybe next almost certainly by the end of the decade the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline. And then it really will be all downhill. The price of oil will increase drastically. Major oil-consuming countries will experience crippling inflation, unemployment and economic instability."
Full Story:
End of the pipeline for oil?
Source:
MSNBC, May 30, 2005
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In short, we’ve seen the last of the cheap oil on which we’ve built our economy, our communities, and our daily lives.
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