Financial crisis or raw material crisis?

Our societies are dependent on fossil fuels in order to operate. No other fuel is so concentrated in energy than crude oil derivative products. The reigning consumption-oriented societies rest on one much important condition - access to cheap and high energy fuels. Fact is that between 2004-2007 an oil barrel rose from 35 dollar to 70 dollar - a doubling of price. The reason is that the global oil production levels have been stable since 2004, despite increasing global demand. Interestingly, year 2008 the oil price was doubled once again. This led to much important and coupled concequences. Doubling of the oil price over the two-year course led to higher fuel and food prices leading to an inflation kickstart, which in turn forced the American Central Bank to increase the interest rate, amongst one concequence being higher housing mortgages, freezed downpayments from borrowers and freezed house loans from banks, etc, etc.

Alarmingly, the strategy utilized world-wide to bring economies back on track (apart of using state tax money as stimulation packages leading to a degration of public sector welfare) is through increased consumption and continued growth. An economical governance demanding accelerated access to cheap and high-energy fuels. Not to mention climate change with all of its direct and indirect consequences.

It goes without saying that when the global economy again rises, it will again hit the same energy boundaries that initiated the crisis it was supposed to revive from.

Dead end. Try alternative route.