Archive for July, 2008
Reuters: Peak oil to hinder world development
From Reuters India:
LONDON, July 21 (Reuters) - The looming peak in world oil production will set back international development and threatens to hinder efforts to make poverty history, a report by a group of UK lawmakers said.
While oil’s rally to a record high is causing economic pain in developed countries, its impact on international development [...]
How to stop the Great Crash of ‘08
According to an item published today by Asia Times, the chain-reaction of high oil prices will cause a catastrophic breakdown that will include the decline of world economic growth. Spengler believes several scenarios will play out as the U.S. economy crumbles. First, he predicts that markets will expect economic growth to decline as oil prices [...]
Read More >>Oil (Groundwork Guides)
In the early years of the 20th century, the availability of cheap oil fueled explosive industrial growth and the development of the world’s leading economies. From the days of “Drake’s Folly” in 1859 Pennsyvania until today, the world has used more than half of the cheap and easy to get to oil. Now, oil supplies [...]
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