I just can’t believe it’s come to this already. In November 2005 I published my Zadok piece which reads….
The cost of everything that depends on oil will rise. Airlines will become unaffordable to the average citizen and will bankrupt as a result. Once the airlines stop flying the world’s largest employer, international tourism, takes a severe economic hit. Some smaller nations dependent on tourism will become bankrupt. The flow on effects of oil prices skyrocketing out of control will throw us into the Greater Depression. We have left adjusting to the post-oil era too late. Indeed it mystifies me that governments still allow oil dependent suburban sprawl to creep ever further into once profitable agricultural areas.
With horror I read in the SMH that Virgin has to increase their fares by 10% or go bankrupt. It starts. I really had hoped politicians and society at large would be more sensible. It seems the only way people are going to accept peak oil is when it smashes them in the face.