Overview

The commencement of the World Crisis is attributed to the crash of the housing market in 2006. This, in turn, uncovered the sub-prime mortgage debacle which generated the banking crisis in 2007. The American auto industry demise and the full world recession followed in 2008. This book analyzes that the trouble started before 1979 and the deposing of the Shah of Iran which was related to the issue of oil. The influence of oil caused the desert wars and the 9/11 event in 2001 and the start of the Iraq war in 2002. These actions were the main reasons for the price of oil escalating astronomically from $21 per barrel in 2001 to a spot price of $148 per barrel in 2008. The average 2008 price was $91 per barrel. A price of $80 per barrel represents a yearly cost of $700 billion to the American economy. The book re-emphasizes the importance of transportation to the world's activities and economy. It also stresses the vital need to respond meaningfully to the conversation of oil and to decide on a replacement for it generated from a renewable material. The book is based on truth and fact regardless of social and political correctness.

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9781936051663

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