Catastrophic shortfalls threaten economic recovery, says world's top energy economistThe world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned. Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris, which is charged with the task of assessing future energy supplies by OECD countries.
The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.
Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris, which is charged with the task of assessing future energy supplies by OECD countries.
One lesson from last year is that you can't have both stocks and oil prices go up at the same time forever... In the long run, we're all dead. John Maynard Keynes
One lesson from last year is that you can't have both stocks and oil prices go up at the same time forever...
nonsense! this time will be different.
and water flows uphill, and dead horses will run the derby.
heretic! now go recite 4 ave hayeks and shrive your bonus...
shrive, not shrivel...
thrive drivel! ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
