We don't need the Americans. We don't even need the Europeans, when push really comes to shove. We need the Chinese and the Russians. The Chinese because they can use their power over the US$ exchange rate to enforce import quotas on the Americans ("if you import more than so-and-so many tons of fossil fuels, you'll have to start paying for it in Mexican Pesos"), and Russia because they're the biggest source of fossil fuels for Europe.

Having Europe would make it less painful, and having the US would make it easier. But ultimately, those who have the BTUs and the factories have the power.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.