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Oil Price

Fuel shortages in France – some lessons

Peak oil works in strange, unexpected ways.  Accumulated debt and high oil prices (i.e. > $25) caused by limited oil supplies put extreme pressure on public budgets. In another convergence the deteriorating age structure forces governments to reduce their pension payouts. Result: Grèves pétrolières. Voilà.

We can already observe a couple of points:

(1) Although fuel [...]