America’s Fossil Fuel Economy Is Heading For Collapse
US oil production is about to peak, but the world is unprepared for the tremendous economic and political consequences. The only path through is energy and economic transformation.
The global economy is currently teetering on the edge of a banking crisis. The IPCC has just released its final major report warning that global carbon emissions need to peak and decline immediately if we are to avoid plunging into dangerous global warming by breaching the 1.5C ‘safe limit’. And in recent weeks and months, industry leaders have announced that the US shale oil and gas revolution is over.
Yet few if anyone is talking about why these things are happening at the same time, and what they really mean.