Lecture 5: Economic Growth (and Cheap Oil)
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Beyond Peak Oil in Post Globalization Civilization Clash
The industrial society for the last century has been stoked by oil as the cheap energy source. However, ominous signs of oil depletion, in fulfillment of M. King Hubbert’s “Peak Oil” theory, may be eerily encroaching upon us and may portend “The Olduvai Theory’s” dramatic consequences. The implications of dwindling cheap oil supplies are catastrophic for maintaining industrial societies’ econom...
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I use the quality and quantity of energy flows to interpret economic, social, and political changes in the US and Former Soviet Union. The economic successes of both the former Soviet Union (FSU) and the US reflect an abundant supply of high quality energy. This abundance ended in the 1970s in the US and the 1980s in the Former Soviet Union. In the US, the end of cheap oil caused labor producti...
متن کاملThe Devils Tears from the Tournament of Shadows: Oil Supply, Markets and Unstable Producers
Oil is the driving force for the modern economy as a cheap energy source and its reliable supply of oil is therefore a crucial element of economic growth. Oil resources however, are unevenly distributed and concentrated into only a few, on average, emerging economies. Inefficient and ineffective resource management can jeopardize the secure flow of oil. Especially since these supplying countrie...
متن کاملDynamic Analysis of the Impact of Military Expenditure on Economic Growth in Oil and Non-Oil Countries in the Middle East
Middle East is a strategic region because of its abundant oil reserves, hostile struggles among the countries, and threat of the radical groups. The countries of this region spend a large amount of their annual budgets on buying weapons and war armaments. The purpose of this paper is to study the impact of military expenditures on economic growth of oil and non-oil Middle East countries by a dy...
متن کاملOil dependence, institutional quality and economic growth: A panel vector autoregression approach
Resources are the foundation of economic growth. With speedy economic and population growth, economic growth is facing a scarcity of resources worldwide. Resource-economy co-ordination has become every government’s main focus in reaching strategic development goals in countries that are on the path of rapid economic development. Sustainable economic development in a country requires resources a...
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تاریخ انتشار 2005