Hard Times Ahead: Peak Oil
Claudia Ehrenstein, Die Welt (in German) | September 1, 2010
A study by the Center for the Transformation of the German Armed Forces claims that peak oil production may well be reached this year. ++ This would mark the end of cheap oil. ++ The study warns that markets may fail and the global economic system become destabilized as a result. ++ The global oil market would no longer abide by economic laws but rather come under the sway of bilateral agreements. ++ China for instance might secure preferential access to African oil by agreeing to increase weapons deliveries to exporter nations.
