Theme: Economic restructuring
Subject Article: "Don’t Be So Sure the Economy Will Return to Normal."
Other Links: 1. "Oil and gas execs say companies still recruiting to keep up with talent lost in layoffs."
Postscript: The oil bust is more about supply than demand. However, don't be so sure the energy economy will return to normal:
The idea that supplies of fossil fuels will grow ever tighter as demand increases, pushing prices inexorably higher, has been put on ice, perhaps forever. The lesson of the past decade is that so long as the right technology, capital and legal frameworks are in place, oil and gas will flow. If the world is to shift away from fossil fuels, therefore, governments will need to take deliberate policy actions to make that happen.
On the heels of a supply revolution (technologically driven by US industry) may come a demand revolution, driven by demographic decline and the second half of the chessboard for the second machine age.