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Article from Durango Bill on Peak Oil and the possible alternative solutions.
"Since 1920, a world economic expansion has been powered by cheap oil. The difference between the
minimal work required to obtain cheap oil and the large amount of work that oil can do has produced a
large energy profit. This energy profit has led to an agricultural and industrial boom, and a quadrupling
of world population. As cheap oil evolves into expensive oil we will lose this profit margin. It will become
increasingly difficult to support our industrial base and grow our accustomed supply of food. Our
technological economy will suffer if only because there will be insufficient gasoline to transport people
from their homes to their jobs. In reality, all segments of the transportation and petrochemical industries
will take a direct hit. The historic growth in both the world's economy and population will come to a halt,
and then begin to contract - slowly at first, and then more rapidly. This economic rollover will likely be
preceded and accompanied by catastrophic declines in world equity markets. The declines in equity
prices will take several decades to run their course and will be characterized by multiple steps
downward as opposed to a sudden panic. The total drop should exceed the 90% decline that
occurred from 1929 to 1932."
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