Economic Growth

2007-08 oil shock caused "substantial" decline in New Zealand's GDP say Reserve Bank economists

re-posted from my blog - oilshockhorrorprobe

In a recent report, two New Zealand Reserve Bank economists have estimated the real effects of oil price shocks on New Zealand’s GDP. The economists conclude -- » Read more

UK Ignores Peak Oil Warnings - NZ Pretends It's Not An Issue

re-posted from my blog - oilshockhorrorprobe

It has long been suspected that Western governments have been investigating peak oil and its impacts on the economy, but keeping the information hidden from the public. In the case of the UK government we now have definitive proof that this has been happening. The Guardian has reported (15 June) that UK ministers have ignored peak oil warnings. » Read more

Joining the dots ... finally

Suddenly the world's media is awash with concern that the recent rise in oil prices will stall economic growth worldwide and cause another global recession. Guardian and here BBC Wall Street Journal

Finally, even in New Zealand, Brian Fallow economic commentator for the New Zealand Herald expresses concern about the implications for the New Zealand economy from rapidly rising oil prices.

It has taken the uprising in Libya to finally focus the mind of commentators on the dire effects on the world economy of oil prices. But most of this analysis fails to acknowledge that prices were already rising rapidly well before the uprising is in the Middle East due to accelerating demand in developing nations, as well as in oil producing countries. And that the Libyan crisis and the speculation that has followed is a “fear premium” on the price -- which was already rapidly rising due to fundamentals of supply and demand.

» Read more

Anneleise Hall's picture

Growth is not possible

It was interesting to read today this article published by BBC News today.

A group of researchers in the UK have challenged the "growth is good" model, warning that business as usual will likely lead to catastrophic and irreversible environmental consequences.

The New Economics Foundation (Nef) said "unprecedented and probably impossible" carbon reductions would be needed to hold temperature rises below 2C (3.6F).  » Read more

everth's picture

George Monbiot's best article yet

I just read Monbiot's latest article in the Guardian.

I think its a masterpiece:

I recommend it. It defines so well where we stand in this GW debate and it looks at the turning point of humanity with clarity.



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