Peak oil, peak food…..but the real danger is here:
Mr Currie said investment cycles in energy typically last about 10 to 12 years as producers struggle to catch up with demand. However, this cycle has been short-circuited by politicians after barely six years.
"The political environment is extremely hostile. The world is looking like the 17th century under mercantilism when countries saw economics as a zero-sum game. They exported as much as they could to get gold, and erected enormous barriers. China looks like that, so does Russia, the Mid-East and most of Africa and Latin America," he said.
While the West has much of the skill for developing energy projects, it is blocked by nationalist petro-states from investing directly.
Mercantilism, that dreadful beast that we thought Ricardo had slain.
Sigh, economics and trade are not zero sum games, it\’s the imports you want, the imports that make you rich. Idiots.