“The credit crisis exemplifies society’s difficulties in the timely management of risks outside our experience or immediate concerns, even when such risks are well signposted. We have passed or are close to passing the peak of global oil production. Our civilisation is structurally unstable to an energy withdrawal. There is a high probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.”
David Korowicz of Feasta and the Risk/Resilience Network has written an excellent essay on the impact of Peak Oil on our monetary system’s absolute need to grow. He makes the case that in the context of our highly interconnected and complex systems of civilisation there will be not be anything like a gentle descent into a more resilient and renewable world. This is a must read for anyone who has hopes of a sustainable future.