Mike_C said:.
Mother nature laid down approximately 2 trillion barrels.......
yet our political leaders are reluctant to fund the biofuel industry
energy efficiency essentially means using less energy
So aswell as becoming more efficient the global economy will also have to contract.
The problem is that when other fuels become "economically compelling" oil will have to rise by an awful lot more. The current global economy we now have would definitely be halted in its tracks.
Brendan said:Mike C
This is an interesting and important topic but as it is not a financial topic or a typical question and answer, I have moved it to Letting Off Steam. This forum is for those who have been long term contributors to Askaboutmoney.
Brendan
It also resulted in a huge hike in interest rates which caused most of the debt related poverty in the 3rd world. This in turn caused a collapse in commodity prices. World market were flooded with cereal crops and minerals etc. as underdeveloped countries struggled to pay the huge development loans that they had taken out when money was cheap and the world economy was on the up.The 1970s oil shock resulted in economic contraction and governments began facing up to the hard reality of how to change their economies to deal with more expensive energy.
That tells me what you think of them, not who or what they are.They are the agency (big brother) who feed the idiots with messages to spread them.
I think that despite it's pro-west slant the BBC offers quite a good world news service. I do know about Africa Watch, do you? If not have a look here [broken link removed]BBC is a war mongering nation's "speaking opinion" and Africa watch .....check it yourself.
I think you are missing the point that I was making. Economic instability, as well as political instability, contributes to poverty and famine. While climatic factors cause crop failures a stable country with a functioning economy is much more likely to be able to prevent it’s people from starving. The famines in Ethiopia and Somalia are cases in point. While Somalia has no oil and Ethiopia has very little they are still affected by commodity prices and international interest rates.Do you think that the Irish famine was due to a lack of energy? Famines raved the world when energy was cheap in areas where energy was cheap.... only expensive energy makes live valuable. Think twice.
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