Following a series of high-level reports issued around the world by various groups, it appears that the Germany armed forces is the last to indicate some concern about Peak Oil. In
an article found in Der Spiegel's English online website, it was reported that a German military think-tank has warned of the potential for very drastic consequences as the effects of Peak Oil are felt around the world.
The central points of the reports are as follows:
- Oil will determine power
- Increasing importance of oil exporters
- Politics replacing free markets
- Failure of the market mechanism for oil
- Relapse into a planned economy
- Global chain reactions
- Crises of political legitimacy in various countries
From a Singaporean perspective, this has a great due to concern us as we import 100% of the energy we need to run our modern economy. Over time, I will explore the implications of Peak Oil for Singapore and for our own individual lives.
Stay tuned!
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