This book explains the place of oil in the economic and political
predicaments that now confront the West. Thompson explains the
problems that the rising cost of oil posed in the years leading up
to the 2008 crash, and the difficulties that a volatile oil market
now poses to economic recovery under the conditions of high debt,
low growth and quantitative easing. The author argues that the
'Gordian knot' created by the economic and political dynamics of
supply and demand oil in the present international economy poses a
fundamental challenge to the assumption of economic progress
embedded in Western democratic expectations.
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