CLEAN:Oil crisis could be as bad as financial crisis

The video discusses the dependence on oil and the lessons learned from past financial crises, emphasizing the importance of heeding warnings from Brazil's oil discoveries. It highlights the onset of peak oil and its wide-ranging impact on industries, urging attention to avoid economic setbacks similar to the credit crisis.

What is the main warning from Brazil regarding oil discoveries?

• The discoveries will lead to a decrease in oil prices.

• The discoveries are a sign of impending oil scarcity.

• The discoveries will have no impact on British business.

• The discoveries will only affect the local Brazilian market.

How does the onset of peak oil affect transportation businesses?

• It will only affect public transportation.

• It will significantly impact transportation businesses like Stagecoach and Virgin.

• It will have no impact on transportation businesses.

• It will reduce the cost of transportation.

What industries are mentioned as being affected by rising oil prices?

• Only the transportation industry.

• Industries like fertilizer, pharmaceuticals, and computers.

• Only the technology industry.

• Only the agricultural industry.

Why is it important to address the issue of rising oil prices now?

• To reduce the impact on the financial markets.

• To increase dependency on oil.

• To prevent British industry from suffering a crisis similar to the credit crunch.

• To ensure the oil prices continue to rise.

What is the potential consequence of not addressing the oil price issue?

• A decrease in oil prices.

• A significant impact on British industry similar to the credit crisis.

• An increase in oil dependency.

• A boost in the financial markets.