I also disagree with who will suffer first. The developing and third world are more reliant on oil than you might think, and the first world has larger guns, which, for example, is much of the reason why people in the Congo dig for tantalum with their bare hands in mines for a living.
you are the media you consume.
People in the Congo dig for tantalum by hand because the multinational that is sucking their resources like a vacuum cleaner can get them cheap, and knows it. Cheaper than machinery. "There is mysterious music in democracy, when people decide to believe in themselves." ---Bill Greider, The Nation.