global economy

I have noticed recently that the price of petrol and diesel has gone down. It is good news for the consumer that prices are going down in these times.

The dependence of the global economy on oil is a self evident fact. We need oil for fuel transport communications and industry. Our economy is an oil based economy. Relying on oil and planes instead of wind and sailing ships is better for humanity in the short run. Unlike wind oil will one day run out.

Internationally this problem of oil isn’t addressed seriously enough. We need an alternative to oil in the future. Any alternative that demands subsides in order to make them profitable isn’t credible in the long term. Alternatives to oil must be economically viable. When we talk about welfare we forget coperate welfare. Giving welfare to the poor is a good thing giving welfare in the form of grants to the rich can be corrupting.

Oil is important to our global economy. We do need alternatives the the solutions offered are not helping and they are hurting the poor.

John O Brien

Author: irishfabian

This blog expresses my views about the world. I am a member of the Irish Labour Party in Cork East.

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