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Petrocollape: the collapse of the petroleum-based economy and infrastructure, caused by unbearably high oil prices and crippling shortage. Causes include the global peak in crude oil extraction ("peak oil"), a major and sudden geopolitical event in the Persian Gulf region, the unsustainable growth of the corporate economy and unhealthful consumerism. Context: there is no technological fix for fully replacing petroleum (oil and natural gas) with other fuels or processes because of the unique and multifacted aspects of petroleum which has been so cheap in cost and return on energy invested. Agriculture even more so that transportation is very petroleum intensive, a problem that cannot be solved for a huge, petroleum-dependent population. Alternative approaches such as permaculture and community economics have been suggested.
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