Written By: - Date published: 12:20 pm, January 12th, 2011 - 22 comments
This post from the Oil Drum looks at how peak oil and the economy interact. From 2004 to 2008 oil prices rose and rose with demand. But high prices bought nearly no new oil to the market because it isn’t there. The prices broke the global economy, destroying demand. Now, prices are rising again and the weakened economies will topple much easier.