Nov. 10, 2009 - Why Your World is About to Get a Whole Lot Smaller by Jeff Rubin

It's a wonder I get any sleep at all after the books I've been reading. The prediction here is that due to dwindling oil supplies, we are going to experience a crisis in meeting our increasing energy demands. Prices will skyrocket, more closely matching what is happening in Europe. Usually, when that happens, oil production increases to offset the delicate balance of supply and demand. However, wells in operation at present have been all but drained and few new wells have been discovered in recent years. Have we used up the world's oil reserves? What will happen in the future if we cannot find any more of this priceless commodity?

The author believes that such a crisis may be good for our society and I think I agree with him. If the cost of oil is highly prohibitive, we will have to shop much closer to home. Industry and farming will benefit in our local areas. Just like "the good ol' days", we will buy products made in our own back yard to avoid shipping costs associated with travel expenses. It will no longer be worth it to buy from countries where labour costs are lower and this will cause a reinvestment in local industry. Think about the pollution that is being caused right now by shipping food, health care products and clothing around the planet. Will a sweater made in a sweatshop in a developing country still be worth the effort and expense of delivery?

Whether we agree with the author or not, it is a scary idea to consider what might happen if oil were to disappear from our planet. Are you ready for a smaller world?