Wednesday, April 14, 2010

A report from the US Joint Forces Command has formally acknowledged the probability of crude oil production peaking around 2015.

"While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth in both the developing and developed worlds. Such an economic slowdown would exacerbate other unresolved tensions, push fragile and failing states further down the path toward collapse, and perhaps have serious economic impact on both China and India."

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