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Sunday, February 10, 2008

Peak Oil equals famine, and soon!

The U.K. Telegraph reports that US investment bank Goldman Sachs believes the advent of peak oil, the diversion of food to fuel, constantly growing population (+70 million people this year alone), and the westernization of the Chinese diet to meat will ensure a crisis in commodities in 12-36 months. Unlike the 60s China has the foreign currency to buy anything it wants on the open market and they will not be denied their chance to become decedent pigs like us.

Something is going to break and the current food inflation sweeping the world is going to become much worse as shortages enter the market. World wheat and corn stockpiles have been shrinking, prices going up and supply will move away from poor countries to the rich, it would appear the 3rd horsemen will soon be upon us.

This would be a good time to remind people to read the book Peak Everything by Richard HeinbergRecommend this Post

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