http://www.youtube.com/watch?v=1AxCSvwmXU8
In the youtube named video "What Will Running Out of Oil Do to the World's Economy?" political scientists, environmentalists and other professionals discuss what they believe will happen to the economy, and they also address the issue as to why politicians and the media ignore this severe issue. The main problem is that the amount oil, which is the main source of energy in the U.S. and most other countries is declining and while oil becomes harder to obtain, prices will rise. The professionals in the video talk about how the economy is kept alive by investors and consumers that believe it will continue to improve, however if they believe the economy will falter, than they will stop consuming in order to save what they have. People will stop taking out loans, buying new houses, and in consequence the economy will shrink and the money supply will decrease. This will result in fore-closers and money will disappear from the economy. I believe the professionals in this video bring out a major concern and are correct in their research about what will happen to the economy. They address why media and why politicians hardly ever bring up the topic. The problem is that politicians have no solution to the problem, so they try to ignore it and do not bring up the issue because they have no way to solve it. Overall the video addresses that oil depletion will hurt the economy and things will change drastically without a proper plan.
