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Peak Oil and the Second Great Depression (2010-2030): A Survival Guide for Investors and Savers After Peak Oil

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Peak Oil and the Second Great Depression (2010-2030): A Survival Guide for Investors and Savers After Peak Oil

4.85 20,195 ratings · 6,111 reviews
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Overview: Peak Oil is the point of maximum global oil production. In Peak Oil and the Second Great Depression (2010-2030), the author argues that the likely peak in global oil production occurred in the period 2005-2008, due to the peaking of Saudi Arabian oil production during that time. The most significant piece of evidence of a Saudi peak in production in 2008 was the inability of Saudi oil ministers to increase production in the period 2005 to 2008 despite record crude oil prices and the drilling of thousands of new wells in Saudi Arabia's seven major oil fields. As of 2012, Saudi crude oil production has still not increased significantly, while net exports continue to decline due to increased domestic consumption.In the years ahead, it is argued, continued economic growth in the developing world including China, India and Brazil (as well as within OPEC) will put upward pressure on the price of oil, which will create severe economic difficulties for the indebted developed economies (such as the US) which rely on imported energy. Mitigation measures in the form of conservation and increased domestic drilling (an option available only to the US and Canada among the larger developed economies) will be insufficient to offset dramatic increases in the price of imported crude oil.Oil at very high and indeed painful prices in the face of already historic levels of personal and governmental indebtedness, it is argued, will create large scale unemployment on levels not seen since the (First) Great Depression as expenditures for foreign oil dramatically reduce spending available for the domestic economy.The author argues that the policy response to the economic difficulties will be to create a general rise in the price level to reduce the burden of the existing debt on households, businesses and governmental entities. As prices, and especially wages, rise, domestic spending will recover and unemployment will be reduced, although this process could take several decades.Very significant inflation will likely be necessary to prevent an even more severe drop in employment and output in the economy given the magnitude of the shock to the economy created by continued declines in global oil production. As of this writing in mid-2012 global production of crude oil has not surpassed the 2005-2008 levels despite sustained high prices. International and sovereign-owned oil companies have had seven years now to respond to high prices with increased exploration, drilling and production. The results have been less than encouraging, to say the least..Dramatic changes in the economy as a result of Peak Oil will alter the approach that would optimally be taken by investors and those wishing to preserve savings. The issues of asset allocation and sector weighting are explored together with alternative investments in commodities and real estate.

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Book details & editions

ISBN
8826689
Publisher
Outskirts Press, Inc.
Publication date
June 30, 2010
Language
En-US
Pages
91 pages
Reading Options
PDF · EPUB · Mobi
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Kenneth D. Worth
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After spending years working in the corporate world, Kenneth D. Worth finally decided to pursue a lifelong passion for writing. They currently reside in a quiet suburb where they spend most of their time outlining new stories, reading extensively, and occasionally attempting to bake.

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Eric Clark
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I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
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Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
Edward Lee
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Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
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Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
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Melissa Hernandez
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Steven Turner
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Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
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A decent, if standard, experience. It verged on repetitive in the second act. A more concise edit would have served it well. Unlikely to reread, but a reasonable expenditure of time.
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Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
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Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
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Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
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Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
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Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
Carol Rodriguez
Carol Rodriguez June 07, 2025
A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
Eric King
Eric King September 18, 2025
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Karen Collins
Karen Collins June 27, 2024
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
Cynthia Wright
Cynthia Wright March 24, 2024
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me.
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