The paradox of cheap oil

Samuel Alexander of the Simplicity Institute has produced this paper The Paradox of Cheap Oil:  The cheaper it is, the more it costs that highlights how the manipulation downwards by OPEC producers of the price of crude petroleum oil raises issues that go beyond economics alone. The paper elaborates on the post made in March 2015 about the need to leave in the ground most of the known reserves of fossil fuel. In a fascinating analogy Alexander compares the effects of price shifts of oil and heroin. The addiction of modern societies to oil operates in a similar way as an addict’s use of the dangerous drug!

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