The oil crisis and the economic crisis of 2008

The crisis occurred 35 years after economic scientists failed to include the increasing scarcity of raw materials and alternative strategies in their calculations.



  The first fossil-fuel recession


Peak - the high price of oil burst many latent economic bubbles. For the first time, a connection between the demand and supply of oil and prices was made: A US$20 higher price is equivalent to 1 million barrels shortfall on the market.

The chance was missed in 1973, but now 35 years later was a good opportunity to start with the marginal analysis. PEGE did this on 20 June 2008,, and on 27 June 2008 the first series of articles on an oil phaseout based on marginal analysis was published.

In business management "marginal analysis" is an altogether common concept but economic scientists persistently refuse to apply it to various supply chains for transportation and building heat.

The best proof of this is Noble laureate Joseph Stiglitz, who in August 2011 was still demanding 3 to 4% economic growth for the USA. But what would happen to the oil price then? By how much would the US trade deficit rise, becasue although more is exported the costs of oil imports would rise much faster?

Destructive Cult
Aberrations of mankind caused incredible destruction caused by wrong ideas. The total madness of Nazi racial doctrine, Pol Pot, the''economics''.




  Accusation against economic science


By pretending to know about economy, by pretending to be a science, there had been caused damage beyond measure.

The hunt for the culprit has ended
Since 1991 PEGE has been trying to lead humanity into the solar age, but has met with hard and completely irrational resistance. Who could be mad enough to be against paradise?


What is science? The example of astronomy What is science? The example of astronomy
To understand the meaning of unscientific, we need to look at how a serious science is conducted: it is always developing better methods to measure theory against reality.


Cloud Cuckoo Land
An ideal world where there is a precise correspondence between theory and reality. The world in which economc science functions perfectly.


Club of Rome - "The Limits to Growth" 1972
The Dr. Hubbert peak oil theory of 1956 was shown to hold true for the USA in 1973, Club of Rome 1972, how was this incorporated in the economic sciences?


Follow-up environmental costs
The way economic scientists deal with follow-up costs for the environment. Trusting in a ''science'' that ignores the requirement of survival.


Easy-earned money - hard-earned money
Most of the costs for transportation and building heat have to be paid with the hardest-earned money: imports can only be paid through foreign exchange assets from exports.




Context description:  politics political