Chris Rhodes: What Happens When the Oil Runs Out?

Crude oil is the backbone of modern industrial civilisation, underpinning most of its transportation, supply chains, manufacturing, and agriculture, as we see from the chokehold in the Strait of Hormuz. Whatever the outcome of this, oil will not last forever. Eventually, it will become increasingly more expensive and less available, so the present situation may provide a foretaste of what to expect, and how best to deal with this.