A study by a German military think tank has analyzed how “peak oil” might change the global economy. The internal draft document — leaked on the Internet — shows for the first time how carefully the German government has considered a potential energy crisis. The term “peak oil” is used by energy experts to refer to a point in time when global oil reserves pass their zenith and production gradually begins to decline. This would result in a permanent supply crisis — and fear of it can trigger turbulence in commodity markets and on stock exchanges. The issue is so politically explosive that it’s remarkable when an institution like the Bundeswehr, the German military, uses the term “peak oil” at all. But a military study currently circulating on the German blogosphere goes even further. That’s from an article last week in Der Spiegel online.  None of this is a surprise to CP readers (see “ Peak oil production coming sooner than expected “) or to those who follow the once staid International Energy Agency (see World’s top energy economist warns: “We have to leave oil before oil leaves us” ).

View post:
German military study warns of peak oil crisis