Friday, March 4, 2011

The Collapse of the Old Oil Order

by Michael T Klare from Asia Times Online

After reviewing the history of oil production in the Middle East and its control by Western powers, this astute writer reaches this conclusion:
...the handwriting is already on the wall. Since no other area is capable of replacing the Middle East as the world's premier oil exporter, the oil economy will shrivel - and with it, the global economy as a whole.
The global economy as currently organized under private ownership (capitalism) cannot be permitted to continue; because if it does, the world will descend into the inferno of global barbarism and/or severe destabilization of the Earth's ecology where its climate will no longer sustain human life. The human race has no alternative but to choose survival.