Tuesday, May 19, 2009

Commercial air travel, like many other industries, is lubricated by cheap oil. Mr. Rubin, the former chief economist of CIBC World Markets, has now bet his career on a single idea – that the cheap oil era is dead and globalization is about to wither along with it. But the most fascinating part of his thesis has nothing to do with geology or Hubbert’s peak oil theory. It’s about the reindustrialization of North America. Those unemployed airline workers could be looking for work – and finding it – in the revitalized factories of Southern Ontario.

Energy, carbon taxes and the winds of change - The Globe and Mail