Heinberg notes that peak oil is not just a simple supply-demand problem. Because peak oil signals an irreversible, steady decline of oil supply, prices of oil will never stabilize. The global economy has been based on a spurious foundation: faith in fossil fuels. Economic growth under the current market system depends on cheap oil. If oil is no longer cheap, we are facing a worldwide economic, social, and political disaster.
3. The most shocking aspect of the readings on peak oil was the litany of products that are made with petrochemicals and their impact on health and the environment, listed on "Oil, Chemicals, and Plastics." Products we take for granted, like the ballpoint pen, depend on petroleum.
Similarly, the use of petrochemicals in agricultural pesticides is shocking. To know that for so long people have put up with such harmful pollutants in their food and water supply is astonishing. Short-sightedness and greed have caused most of the problems we face today and have also caused peak oil.
4. Reading about peak oil is shocking...
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