Oil is the lifeblood of the economy:
- In the 1960s Oil Supply Growth exceeded GDP growth.
- From 1970s to 2005, OSG trailed GDP by 2 points.
- 2005, Peak Oil, end of Oil Supply Growth, except for momentum the end of GDP growth based on Oil Supply Growth.
- From 2005 the trend has been horrific. Worse if measured in foreclosures and banking system collapse.
Action: Change the lifeblood of the economy from oil to ingenuity. Radically re-tool transportation and power generation infrastructure. Repeat the 1984 success of re-tooling communications infrastructure by shifting from central planning to free markets.
Author's Disclosure: Author is founder of JPods, Inc. a company focused on re-tooling transportation.