Production of cheap, abundant fossil fuels is peaking and will soon be withering away, yet gasoline for our cars has almost never been inflation-adjusted cheaper. Around the world, numerous sovereign governments are close to becoming dysfunctional – likely with very bad consequences. We are pumping so much of the wrong kinds of gases into the atmosphere that the poles are melting, the seas are rising, the land is drying out and some day soon this planet is going to be very tough to live on. On top of all this, the world seems to be acquiring a fair number of people who are convinced that only they understand God properly and that the rest of us deserve to be done in.

Indiscriminate kidnappings. Nearly daily beheadings. Gangs that mock and kill government agents.

This isn’t Iraq or Pakistan. It’s Mexico, which the U.S. government and a growing number of experts say is becoming one of the world’s biggest security risks.

The prospect that America’s southern neighbor could melt into lawlessness provides an unexpected challenge to Barack Obama’s new government. In its latest report anticipating possible global security risks, the U.S. Joint Forces Command lumps Mexico and Pakistan together as being at risk of a “rapid and sudden collapse.”

Governments across Europe declared states of emergency and ordered factories to close as Russia cut all gas supplies through Ukraine yesterday in their worsening dispute over unpaid bills.

José Manuel Barroso, the European Commission President, accused the two countries of taking the EU’s energy supply “hostage” amid a cold snap across the Continent, and urged them to reopen the pipelines immediately.

Schools and factories were closed and trees were felled to keep home fires burning after Russia turned off the gas taps to more than a dozen countries. It was a clear demonstration of the dependence of the Continent on Russian gas supplies.

German exports and industrial orders have both plunged at the steepest rate since modern records began and Spain’s unemployment has surged above three million, capping one of the most disastrous days for Europe’s economy since the Second World War.

Joaquin Almunia, the European economics commissioner, warned that the picture would turn “dramatically worse” this year. The eurozone’s confidence index collapsed from 74.9 to 67.1, the lowest since Brussels started collecting the data in 1985.

The Israeli army has entered the Gaza Strip as it escalated its offensive on the eighth day of operations.

A column of tanks entered the besieged territory though the Beit Hanoun crossing shortly after nightfall on Saturday, as the Israeli cabinet said it had called up about 9,000 reservists as part of its preparations.

Alan Fisher, Al Jazeera’s correspondent on the Israeli-Gaza border, said that he had witnessed the movement of tanks and armoured vehicles in the area.