PEAK OIL AND THE THREAT TO GROWTH

"We are in a situation where oil just isn't able to provide the economic bang that it used to ... In the US, every oil price spike since 1973 has correlated with a recession ... We're facing the convergence of 2 crisis. First, the problem with oil that we've been talking about, but at the same time, we're also in a situation of peak debt ... The medicine loses its effect after a while, and I think that with the latest round of quantitative easing, it stimulates for a shorter and shorter time each time they resort to it ... I think we gonna have to create an economy that doesn't require growth."

Ein Interview mit Richard Heinberg über Peak Oil, unkonventionelle Ölquellen, Finanzkrisen der notwendigen Nullwachstumsgesellschaft. Erschienen auf ABC News (18. September 2012).