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Well... 1) Petroleum is an input into so many other things besides transportation, and; 2) Transportation is, to varying degrees, a significant variable in mo

Well... 1) Petroleum is an input into so many other things besides transportation, and; 2) Transportation is, to varying degrees, a significant variable in most countries' GDP. It's probably most extreme in the US, in terms of the GDP being a linear function heavily rooted in vehicle-miles travelled, but to some extent that's going to apply to any developed country. So no, you really can't go without gasoline, nor adopt blasé indifference to oil prices. They pervade just about every facet of modern life; plastics are derived from petrochemicals, fertiliser, you name it. And petrostates like Russia know it.

dcchambers 5y ago
You're absolutely correct. I guess I meant that when push comes to shove and Europe needs to decide what to do with the Petroleum it does have, it can dedicate to energy production and industry essential to function, and limit the amount available to consumers (think gas rations in the 70s), but it's harder to limit natural gas that is used by people to keep them alive in the winter. My fear is not "will the economy in Europe survive a lack of oil?" but is actually "Will Europe have enough natural gas to keep people from freezing in the Winter?" But yes, petroleum is essential as well.