Here's the latest in the Deep Green column from Rex Weyler - author, journalist, ecologist and long-time Greenpeace trouble-maker. The opinions here are his own.

As the era of cheap liquid fuels draws to an end, everything about modern consumer society will change. Likewise, developing societies pursuing the benefits of globalization will struggle to grow economies in an era of scarce liquid fuels. The most localized, self-reliant communities will experience the least disruption.

Oil is a fixed asset of the planet, representing stored sunlight accumulated over a billion years as early marine algae, and other marine organisms (not dinosaurs) captured solar energy, formed carbon bonds, gathered nutrients, died, sank to the ocean floors, and lay buried under eons of sediment. Like any fixed non-renewable resource, oil is limited, and its consumption will rise, peak, and decline.