collapse

End of the Oilocene – The Gathering Storm

"Properly understood, money acts simply as a ‘claim’ on the output of the energy economy and driving up the aggregate of monetary claims only increases the scope for their elimination in a process of value destruction," warns Tim Clarke. He goes on to argue that Ireland is in a particularly vulnerable financial position, which is likely to lead to severe problems in the near future.

Submission on strategic risks facing Ireland

We urge the Irish government to recognise the existential aspect of environmental risk, as well as the complex challenges posed by the global financial system's high dependency on oil. Ireland is particularly vulnerable to financial collapse and its community banking sector needs to be strengthened and taxation reforms carried out in order to help mitigate this.