"The credit backing of fractional reserve banks, monetary systems and financial assets are fundamentally incompatible with energy constraints ... The high quality and affordable oil that powered the growth of the globalised economy is being replaced by increasingly low grade and expensive oil ... Global oil production has been essentially flat since 2005 ... Two-thirds of oil producing countries have already passed their local peak ... In financial terms, adding each new barrel of production (the marginal barrel) becomes more expensive ... Our fixed fleets of cars, planes and ships cannot run on electricity, coal or natural gas ... Peak oil is not primarily concerned with reserves, but flow rates ... It is of little use knowing that there is an oasis a hundred miles away if a stumbling man is dying of thirst now ... Damaged economies use less energy and cannot invest in future oil (or other energy) production ... One of the main effects of the Green Revolution of the 1950's, 60’s and 70's was to put food production onto a fossil fuel platform ... A terminally contracting global economy is incompatible with the credit backing of the global financial system, fractional reserve banking, and the monetary system ... Global financial markets and the assets they trade are, in their entirety, a Ponzi scheme, and like all Ponzi schemes, they live only as long as confidence is maintained before collapsing under the weight of lost illusions."
Eine Studie von David Korowicz über die negativen Auswirkungen von Peak Oil und Überschuldung für die Nahrungsmittelproduktion durch die Gefahr des Zusammenbruchs von Bankensystem und globalisierter Wertschöpfungsketten aufgrund der zunehmenden Verwundbarkeit unserer hochkomplexen, wachstumsabhängigen Gesellschaften gegenüber Engpässen. Erschienen auf Feasta (17. Juni 2012).
