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globalisation as we know it is dependent on cheapish oil

I must disagree with this. Globalization is dependent not on cheapish oil, but on the popular support for free trade, and governments removing import quotas, tarifss or outright trade bans. We had (and currently have) globalization when trade was free but oil dear (or irrelevant, as ships ran on wind or coal). We did not have globalization when trade was unfree but oil cheap. Globalization is to a much greater degree about politics and policy, than it is about energy costs.

It is about energy and technology too, but not the way most people might think. The invention of the container is a much greater force for globalization than $150 oil will ever be against it. This is because globalization is about free trade on the high seas, and oil prices or not, it's still dead cheap to transport containers on these huge ships. Local markets served by trucks might make some products very dear indeed, while transoceanic trade is still abundant.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Tue Mar 29th, 2011 at 04:09:17 PM EST
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