Our entire way of life is tied to two things - oil and electricity. Without oil we have no transportation. Without transportation our whole economy comes to a stand still. There would be no deliveries of any sort. There would be no cargo being transported. There would be no crops being planted or harvested. All of it depends on oil to fuel the vehicles that do all that for us. Without electricity we would have no lighting, no refrigeration, no way to power the pumps that deliver fuel, gas, or water. We would not have the internet or any functioning technology. Indeed our way of life is tied to oil and electricity. If we lose them we are doomed, but our lives will also be impacted if they get too expensive or too scarce. That's a lot riding on oil and electricity. I wonder if we can track how well the economy is doing based on the price and availability of oil and electricity?
What do you think?