Oil: Fueling Another Debt Crisis?

Wed, 23 Apr 2008 00:05:27 -0000

Highlights and Sticky Notes:

High oil prices have a clear economic effect. But for highly indebted, impoverished countries, climate change, fueled significantly by CO2 emissions from cars and other gas-guzzling vehicles in the North, will have serious ecological, social and economic impacts as well.

Comment on petroleum and global warming. posted by pickinjava

Says Saul, “A key way to transition away from dependence on oil is through debt cancellation. Countries need fiscal space in order to invest in the post-fossil fuel economy — but the debt trap keeps countries from meeting a wide variety of social needs.”

Tags: corporations debt development industry international jubilee multinational petroleum

Posted by: pickinjava

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Oil: Fueling Another Debt Crisis?