You might have heard of peak oil, the idea explaining the point in time when we have reached the maximum amount of oil produced, after which starts a decline that affects the world as we know it (and yes, I’m using this phrase on purpose). Jeff Rubin, a Canadian economist, took the issue head-on in this book, explaining not only why in his view the current economic crisis is at its source one huge oil price shock, but also how will the world economy change once oil is not so plentiful, more expensive and there are more economies hungry for it.
Basically, what he predicts is an end to the current version of globalisation, where you have distributed value chains, cheap travel and products from all over the world at your doorstep. I don’t know about you, but even if I live more or less ecologically, use renewable energy where possible and don’t have a car, such a future would wreak havoc with my lifestyle as it would be impossible for me to find the food I want and be able to visit my family over the holidays. The subtitle of this blog is “musings from a child of globalisation” after all, isn’t it?
I think it is time to sweep this issue under the rug every time it is brought up and start thinking about what kind of innovations are needed. Who’s with me?