Oil, capitalism, and crises

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Journal Article
Energy Research & Social Science, 2015, 6 pp. 155 - 160
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‘Before the Industrial Revolution’, wrote the energy scientist Harold Schobert, ‘society relied on three energy sources: human and animal muscles, firewood, and the energy of wind and water’. ‘Since then’, Schobert continues, ‘there have been three major historical transitions in our use of energy. First came . . .coal. Second was . . .electricity. Petroleum became the dominant global energy source by the end ofthe twentieth century’([1], p. 4). The dominant position of oil under industrial and financial capitalism remains to this day, but the future and role of oil have been the focus of major controversy in contemporary political economic analysis.
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