Jeremy Leggett in an Independent op-ed: “There is one main similarity between the energy crisis and the financial crisis, and one main difference. These two things tell us a lot about the role of cultures in how our modern version of capitalism plays out.” “The similarity is that we are dealing with two massive global industries – investment banking and oil – who have their asset assessment systemically, and ruinously, wrong. The difference is that few people and organisations were warning about the credit crunch as it approached, whereas with the oil crunch, a host of people – many of them in and around the oil industry – are shouting a warning, and so too are a good few organisations.”
Future Today
