Peak Oil raises its head
Tverberg: The World Has A Major Crude Oil Problem; Expect Conflict Ahead Authored by Gail Tverberg via Our Finite World blog, Media outlets tend to make it sound as if all our economic problems are temporary problems, related to Russia’s invasion of Ukraine. In fact, world crude oil production has been falling behind needed levels since 2019. This problem, by itself, encourages the world economy to contract in unexpected ways, including in the form of economic lockdowns and aggression between…