G20 leaders ignore the burning issue

ONE topic not mentioned in the reports from the G20 meeting in Toronto last week was energy or how the “growth revival” proposed for the world economies was going to be fuelled in an era of ever-dwindling resources.

=All the capital finance instruments, namely securities and bonds, and all the financial paper in the industrial world, is essentially based on the increasing accumulation of wealth driven in parallel by a growing demand for fossil fuels.

The high standard of living we’ve built by gorging on cheap oil is set to decline, if it’s not already doing so. At what stage the terrifying implications of this geological fact enter human consciousness is debatable, but German philosopher Arthur Schopenhauer described all truth as passing through three stages.