Oil Era’s Twilight Drives Depression, Debt Crisis, Author Rifkin Says

[marmar]

Oil Era’s Twilight Drives Depression, Debt Crisis, Author Rifkin Says
By Catherine Hickley - Sep 22, 2011 7:00 PM ET


(Bloomberg) The world economy will face shocks and depressions, punctuated by ever-shorter and weaker recoveries, as long as it relies on outdated fossil fuels, says Jeremy Rifkin, author of “The Third Industrial Revolution.”

“There will be cycles of growth, collapse, growth, collapse, every three years or so,” he said in an interview in Berlin, where he was scheduled to speak on a panel about sustainable growth introduced by Chancellor Angela Merkel.

We are on the cusp of a major upheaval as the world switches to renewable energies and our power-distribution networks undergo a transition similar to that experienced by communications systems with the advent of the Internet, he said.

Until the “third industrial revolution” is in full swing, debt crises such as those plaguing the euro area will recur, Rifkin said. .............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-09-22/oil-era-s-twilight-drives-depression-debt-crisis-rifkin-says-interview.html

[dkf]

1. And that is where the lack of leadership in transitioning us will bite us.

It's the biggest source of disappointment I have in Obama. He kind of got it, but there is no follow up or execution.

[WhiteTara]

2. When every day is a battle, it is hard to get the work done.

Time to give him more Democrats to implement what we want and need.

[dkf]

3. He had that. He decided to go with healthcare instead.

Dammit we could have gotten a transition and jobs. Such a missed opportunity.

[applegrove]

4. Which is why people's social security should not be in the stock market like the GOP wants.