Sunday, 31 January 2010

Nightmare on Oil street - Peak oil effects will arrive earlier than we think

Any planning for a sustainable future must take into account that, barring a miracle, energy will be much more expensive and less freely available than in the past.

Jeff Rubin, the former Chief Economist of CIBC World Markets and the author of “Why Your World Is About To Get A Whole Lot Smaller” built his reputation as one of Canada's top economists based on a number of successful predictions including the housing bust of the early 90s and the rise of oil prices. In his recent book, Mr. Rubin predicts $225 per barrel oil by 2012 and with it the end of globalization, a movement towards local sourcing and a need for massive scaling up of energy efficiency.

This video is 45 minutes long but is very well worthwhile – persevere!


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