The End of Globalisation

Jeff Rubin is one of the few economists who understands resource constraint issues. He has argued since 2008 that the global financial crisis was caused by high oil prices breaking the backs of the advanced economies.

In this interview, he argues that oil will again be above US$100 in the near future, and that it will lead to a reconfiguration of world trade and thus a reversal of the trend towards globalisation.

Peak oil will mean that oil will become too expensive to burn. This does not bode well for the Singapore economy in its current form.