Nice to see that Ambrose Evans-Pritchard continues to write better-informed analyses than many of his colleagues at the Telegraph – and even more that he is saying the same thing as I did in my last Courier article. This is the key point, as portrayed by Colin Campbell back in 2006:

The recession – the great dislocation – will not stop until we either replace oil-based transport or learn to do without it. I expect us to be arguing along these lines for some years yet.