If we try to solve the energy problem with increased oil production, we’ll just buy ourselves some more time. But eventually, demand will exceed supply, or prices will rise so high that an economy based on cheap energy will perish from the earth.
July 3rd, 2008 | Dan Denning | 5 comments | ContinuedAll Posts Tagged With: "fuel"
Food, Fuel, and Finance: The Crisis of the Three Fs
The grand poobahs of the world’s economy are wringing their hands in worry over the three Fs, each its own kind of crisis: food, fuel, and finance. As usual, it’s the people at the margin (whether lending or with food) that are affected first when surplus turns to scarcity. Despite all the daily signs of abundance here in Australia, let us not forget that there are about four and half billion people on the planet who have little margin for error in their daily lives.
April 14th, 2008 | Dan Denning | 10 comments | Continued
Inflation is Hitting Hard Because of High Energy Prices
Today’s papers are full of inflation talk. In France, La Liberation says food prices have taken off in Europe – up nearly 50% in the last six months. Part of the reason, no doubt, is the high price of energy. We drove out to the country yesterday. Stopping for fuel, we found the price per [...]
February 26th, 2008 | Bill Bonner | 0 comments | Continued