Go on, stick your head in deeper

Business, Company Strategy, Economics, Environment, Sustainability, Technology, US

035ostrich_468x538.jpg

Apparently it’s a fallacy – ostriches don’t stick their heads in the sand.

Investment bankers frequently do, though, especially all the greedy ones who only cared about their end-of-year bonuses when they knew perfectly well that the credit crisis was on its way.

I am sitting here sipping a beer and thinking “Oh my goodness, this really could be as bad as the Great Depression” now that Lehman Bros has been forced to file for bankruptcy.

But the danger is that we’ll all forget about the even bigger threat to the global economy which is yes, you’ve guessed it, Peak Oil and climate change.

We’ll all be so grateful when the credit crisis is over that we’ll rush out and buy more garbage we don’t need, jet around the world once again, talk excitedly about emerging-market growth, and bang – the price of crude will be close to or above $150 a barrel again (not that current levels in the historical context are anything to cheer about).

Read the last chapter of David Strahan’s The Last Oil Shock to put the credit crisis in perspective (read the whole book, but the last chapter provides some practical ideas).

The survivors of the energy crisis over the next 20 years will be those who are the most energy efficient. So start growing your own vegetables, invest in energy saving in your home and for goodness sake, sell your SUV you self-indulgent idiot.

The value of your home, your shares and your pension might rebound once the credit crisis is over but in the long run, any investment in the conventional hydrocarbon-based economy seems to be fundamentally flawed.

PREVIOUS POST

A drowning man will clutch onto anything

12/09/2008

Peak Oil, Deutsche Bank, gas pricing, coal-o-chemicals, coal gasification, Petro...

Learn more
NEXT POST

The world is round after all

16/09/2008

Thomas Friedman, globalisation, global warming, Peak Oil, Hot, Flat and Crowded,...

Learn more
More posts
Growth in China second hand car market driven by ageing population
22/03/2019

By John Richardson CHINA will become a country of a billion plus Western-style middle class consumer...

Read
US LLDPE imports threaten to overwhelm European market
20/03/2019

By John Richardson THE above chart may end up being an underestimate of the extent to which US linea...

Read
Per capita consumption another blunt tool for predicting China polymers growth
18/03/2019

By John Richardson WE ALREADY know that forecasting Chinese polyethylene (PE) demand growth based on...

Read
Risks for US petrochemicals once again rise as trade war takes another twist
15/03/2019

By John Richardson JUST when nearly of all us (including me) thought that a trade deal was about to ...

Read
China polyethylene demand forecasting: Forget GDP, look downstream and focus on regions
12/03/2019

By John Richardson THE TOP DOWN method of estimating polyethylene (PE) demand growth in China that u...

Read
US foreign policy reshaping global oil markets at major cost to the US
08/03/2019

Guest blogger today is again Ajay Parmar in the third of his posts. He is a chemical engineering pro...

Read
China’s January credit surge: Case for one-off panic, no new global economic boom
06/03/2019

By John Richardson CHINA’S HUGE January credit increase might be the start of a new round of major...

Read
Plastic waste crisis threatens 575m tonnes of global non-recycled PE demand
04/03/2019

By John Richardson THE DEMAND growth for oil and other liquid fuels could be more than 50% lower up ...

Read

Market Intelligence

ICIS provides market intelligence that help businesses in the energy, petrochemical and fertilizer industries.

Learn more

Analytics

Across the globe, ICIS consultants provide detailed analysis and forecasting for the petrochemical, energy and fertilizer markets.

Learn more

Specialist Services

Find out more about how our specialist consulting services, events, conferences and training courses can help your teams.

Learn more

ICIS Insight

From our news service to our thought-leadership content, ICIS experts bring you the latest news and insight, when you need it.

Learn more