Global riot epidemic due to demise of cheap fossil fuels
From South America to South Asia, a new age of unrest is in full swing as industrial civilisation transitions to post-carbon reality.
In Ukraine, previous food price shocks have impacted negatively on the country’s grain exports, contributing to intensifying urban poverty in particular. Accelerating levels of domestic inflation are underestimated in official statistics - Ukrainians spend on average as much as 75% on household bills, and more than half their incomes on necessities such as food and non-alcoholic drinks, and as75% on household bills. Similarly, for most of last year, Venezuela suffered from ongoing food shortages driven by policy mismanagement along with 17 year record-high inflation due mostly to rising food prices. While dependence on increasingly expensive food imports plays a role here, at the heart of both countries is a deepening energy crisis.