Negligence in oil exit: 2 times BAWAG harm per day

We will have a legal proceeding with a unbelievable high amount of harm. Just right now, the BAWAG case about speculation upset Austria, but this had been peanuts.

The BAWAG trial in Austria

The BAWAG was a big Austrian bank owned by the ÖGB (Austrian trade union). The BAWAG lost by highly hazardously speculations so much money, that the financial problem was only possible to solve by an emergency sell of the bank to Zerberus.

In the dock had been people, which never thought to be in the center of one of the largest economy trials. The trial stated a harm from a little bit above 2 billion EUR.

The trial about negligence at the oil exit

State attorney: Defendant, do You know this document?

INTERNATIONAL ENERGY AGENCY
SAVING OIL
IN
A HURRY
© OECD/IEA, 2005

Defendant: No

State attorney: Your country is member of the IEA. You had have at this time government responsibility for the transport sector. And You want now to tell the court, that You do not know this document? The court expert authorities will prove that You and the other defendants caused worldwide economic damage in the amount of 4 billion EUR a day by Your negligence.

At 85 million barrel a day and a price difference of US$73 between the real szenario and what would have been with all actions is 4 billion EUR a day, 2 times the harm sum of the BAWAG tiral per day, 730 times the harm sum of the BAWAG trial per year.

Crude oil politics and the urgent exit from crude oil
	How many times has the cycle oil price explosion recession to take place, until politics and economy realize, that a stable economy is only possible with renewable energy.

Financing the oil exit
	In the agriculture are subventions for no production usual to stop price decay by over producion. Exactly the opposit is necessary is for the to small offer of the oil market.

Being poor is expensive
	Because of lack of trust from the bank, a poor can not finance profitable improvements and has to spent excessively money for obsolete technology.

Main task credits
	Credit quarantees and interest support will be the main task of the organization for oil exit. The interest support will be a main part of the budget.

Shipping without crude oil
	Just right now, shipping uses 7,29 Million barrel a day. Depending on size and required range, 0 oil consumption will be achieved by hydrogen, methanol or lithium batteries.

Omission resulting in death
	The omission to follow the IEA study about measures against a fast increasing oil price can be fast much more than only an economic damage.