Jeremy Leggett, a former oil man, wrote an article in The Independent (20/1/06) entitled, What they dont want you to know about the coming oil crisis. He wrote:
A spectre is haunting Europe – the spectre of an acute, civilisation-changing energy crisis.
We have allowed oil to become vital to virtually everything we do. Ninety per cent of all our transportation, whether by land, air or sea, is fuelled by oil. Ninety-five per cent of all goods in shops involve the use of oil. Ninety-five per cent of all our food products require oil use.
Gold, a Hedge Against the Perils of Interesting Times
While paper-based investments and real estate are vulnerable to effects of changing times, gold soars. A precious metals investment may save a portfolio when all else fails.