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Peak oil (2005-2008) and the financial crisis; submission Fuel Inquiry Senate

This submission was written for the Australian Senate Select Committee on Fuel and Energy
http://www.aph.gov.au/SENATE/committee/fuelenergy_ctte/index.htm

The case is made that the global peaking of crude oil production has happened 2005-2008. This triggered the financial crisis in a banking sector which had a pre-condition of accumulated debt. The recession which was to be expected after peak oil has [...]