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Title: Peak Oil Causes Global Recession, Depression View count: 4557 Rating: 5.0 (18 ratings) Description: Clips featuring Colin Campbell, Richard Heinberg, Julian Darley, etc. Oil is used for everything. When we reach maximum production, that is a very significant point. Global oil production will peak, and everything will change. Less and less oil fields are being discovered. New oil is found in smaller pockets. 4/5 of oil being consumed was found before 1970. Norway, Britain UK, and Norway have all passed their nation's peak. The world consumes three times as much oil as we are finding. 53 countries are producing less oil now than in the past. We expend about 10 Calories of fossil fuel energy for every Calorie of food energy produced. This is unsustainable. Global hunger and famine could be a result of peak oil. Economic contraction will most likely result from peak oil. A perception of a contraction economy will itself cause a contraction. This could cause the second great depression. Tags: peak, oil, peakoil, depletion, crisis, energy, crude, gas, gasoline, diesel, petrol, fuel, shortage, heinberg, collapse, depression, recession, Author: oildepletion |
