Book description
Soaring oil prices caused four out of the last five recessions. They
caused the current recession. And they will cause the next one.
Expensive oil costs us more than just money. It costs jobs, homes
and in the long run it is going to radically alter the way we live.
For if cheap oil is the fuel that keeps the machinery of globalisation
in motion, then expensive oil has the same effect as pouring diesel
into an unleaded tank. Everything stalls; the engine fails. Oil prices
will rise again in the coming years, as this utterly convincing
insight into our collective future argues. And as oil prices fluctuate
wildly, our society will change dramatically, and for good. From the
homes we live in and the cars we drive to the food we eat and the
places we work, our daily lives and global economy are going to be
transformed. But while this new, smaller world will take some getting
used to, it will also open our eyes to a more localised and ultimately
more liveable way of life.
Jeff Rubin was the Chief Economist and Chief Strategist at CIBC World
Markets for almost twenty years. He was one of the first economists to
accurately predict soaring oil prices back in 2000 and is now one of the
most sought-after energy experts.
