Yesterday's Hamilton Spectator carried a longish feature on Jeff Rubin, the former chief economist of CIBC World Markets and author of a new book titled Why Your World is About to Get a Whole Lot Smaller.
Rubin, one of the early mainstream advocates of peak oil theory, left his job at CIBC World Markets to publish and promote his book, which warns that the pattern of economic globalization that has characterized the past few decades is about to go into reverse as persistent declines in oil production render global trade unaffordable.
Of particular interest to Hamilton is the following:
"People in Hamilton understand how quickly the steel industry went south, or east. It can go west just as quickly."
In Rubin's world, mothballed factories will start to hum again, farmers' markets and back-yard gardens will boom, the 100-mile diet will be the new way of eating, people will exchange car keys for transit passes and walking shoes.
Rubin wants the billions going into shoring up carmakers to be pumped into transit systems.
"The autoworkers could be making subway cars, streetcars, light-rail. We need those, not SUVs," Rubin said.
(h/t to hunter for pointing this out in an RTH comment.)
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