High oil prices are killing economies, says new book
Jeff Rubin’s new book says high oil prices are killing economies. But his thesis is let down by some muddled thinking
Forget the US’ sub-prime mess, the eurozone crisis, or predatory banks. The global financial meltdown started with soaring oil prices. Economic growth will end with them. Higher energy prices aren’t a symptom of economic problems, they are the cause. Economic growth depends on burning more oil. But because easy, cheap-to-extract supplies are dwindling, an era of expensive energy is upon us. Welcome to the brave new world of everlasting economic stasis. In a nutshell, this is the argument in Jeff Rubin’s book, The Big Flatline: Oil And The No-Growth Economy*. “We’re about to face a permanent slowdown in growth,” he argues. The world is
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
