Should Israel Fear The Peak Oil Crisis?

4 Mar 2017   Israel, Peak Oil

Conventional wisdom suggests that the world economy is in a slow but steady recovery from the 2008 financial crisis. Some economists, however, including Nafeez Ahmed , author of several books including “ A User’s Guide to the Crisis of Civilization: And How to Save It ,” are sounding the alarm about a looming global redux of that crisis rooted in natural resource scarcity, particularly oil. This alarming scenario, outlined by Ahmed in a recent article on Medium titled “Brace for the Oil, Food and Financial Crash of 2018,” foresees in 2018 a terrifying confluence of expensive oil, spiking food prices, a debt-fueled financial crisis, and depressed economic growth, with all of the attendant socio-political tensions we have seen in recent years accelerating. Think Trump, Brexit and the Arab Spring meet stagflation. Could this be bad news for Israel, in its arid, oil-drenched, and politically fragile neighborhood? Let’s consider for […]

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