Why Your World Is About to Get a Whole Lot Smaller

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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.