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The mainstream media is catching up to World Without Oil’s vision for an oil-challenged future. Experts are “shuddering at the inflation-fueled chaos” and “foreseeing fundamental shifts in the way we work, where we live and how we spend our free time.” “You’d have massive changes going on throughout the economy,” said Robert Wescott, president of Keybridge Research. “Some activities are just plain going to be shut down.” Push prices up fast enough, said Michael Woo, a Los Angeles Planning Commissioner, and “it would be the urban-planning equivalent of an earthquake.” And S. David Freeman, president of the L.A. Board of Harbor Commissioners, said “The purchasing power of the American people would be kicked in the teeth so darned hard that they won’t have the ability to buy much of anything.” Do you remember the abandoned cars in WWO? Experts support this and offer a rough number: 10 million abandoned cars.
Read all about it in this LA Times article by Martin Zimmerman. Graphic from the article.
….possible within two years, says Sachs Goldman via Bloomberg and widely reported. Folks, less than a year ago “$200 a barrel” was shorthand for catastrophe. Witness our fellow simulation, OilShockwave, which in September 2007 posited a global geopolitical crisis precipitated by oil at $150 a barrel.