"Oil consumption for the PIIGS in total hit its highest level in 2004, before the decline began. Peak oil consumption by country varied a bit: Portugal, 2002; Italy, declining since 1995; Ireland, peak in 2007; Spain, peak in 2007; Greece, peak in 2006. Peak demand is very much related to jobs. Peak oil demand occurs when a country is not competitive in the world market-place, and because of this, loses industry and jobs. One reason this happens is because the country’s energy cost structure is not competitive in the world market-place. With the run-up in oil prices starting about 2003, oil is by far the most expensive of the traditional energy sources we have available today. Countries that use a large percentage of oil in their energy mix can be expected to have a hard time competing, because of oil’s higher cost ... The countries that are most affected by rising oil prices are the countries that use oil to the greatest extent in their mix of energy products ... [T]hat would be the PIIGS. The rest of the US, EU-27, and Japan would be next in line."

Zum Artikel von Gail Tverberg, erschienen auf Our Finite World (11. April 2013) »