Chapter I: The End of an Era
On October 6, 1973 the 4th Arab Israeli War began. This chapter also mentions the OECD— a corporation of the wealthy countries which set up an energy commission and issued a report. In addition, the business must protect the coal industry— Europe’s leading energy source. This chapter also addresses the Suez Crisis where a terrible shock spread through all the oil-importing nations, including the United States, which is not only the biggest oil producer, but also the biggest oil consumer. As a result, the Middle Eastern oil flew into America, and the oil companies competed to follow because businesses compete and nations do not. Consequently, President Eisenhower was unhappy with using the Middle Eastern oil and used an importing control. Previously, the oil exporting countries did not have anything to do with their business because as the oil companies ran it, they had immense resources and could be more effective for the nations. According to Schumacher, oil is a diminishing asset and is extracted just like coal. Schumacher also discusses about Colonel Gadaffi, who became a …show more content…
The first illusion is where against all laws of nature, infinite growth in a finite environment is possible, meaning life before computers was extremely difficult because there was slow pace of work, limited information, and tons of legibility was required so there was plenty of paper to write on. Now with the arrival of computers, there is rapid pace of work and more information accessible everywhere, especially the locations. The second entertainer declared that people are prepared to do mindless repetitive work and some of the nations have successfully accomplished their goal and some are so far behind. The third illusion is where science can solve all the problems. Businesses compete but nations do not because the nations’ governments enforce laws with each function of the three
On October 6, 1973 the 4th Arab Israeli War began. This chapter also mentions the OECD— a corporation of the wealthy countries which set up an energy commission and issued a report. In addition, the business must protect the coal industry— Europe’s leading energy source. This chapter also addresses the Suez Crisis where a terrible shock spread through all the oil-importing nations, including the United States, which is not only the biggest oil producer, but also the biggest oil consumer. As a result, the Middle Eastern oil flew into America, and the oil companies competed to follow because businesses compete and nations do not. Consequently, President Eisenhower was unhappy with using the Middle Eastern oil and used an importing control. Previously, the oil exporting countries did not have anything to do with their business because as the oil companies ran it, they had immense resources and could be more effective for the nations. According to Schumacher, oil is a diminishing asset and is extracted just like coal. Schumacher also discusses about Colonel Gadaffi, who became a …show more content…
The first illusion is where against all laws of nature, infinite growth in a finite environment is possible, meaning life before computers was extremely difficult because there was slow pace of work, limited information, and tons of legibility was required so there was plenty of paper to write on. Now with the arrival of computers, there is rapid pace of work and more information accessible everywhere, especially the locations. The second entertainer declared that people are prepared to do mindless repetitive work and some of the nations have successfully accomplished their goal and some are so far behind. The third illusion is where science can solve all the problems. Businesses compete but nations do not because the nations’ governments enforce laws with each function of the three