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The world is running out of oil generally. It remains to be sign whether the current high oil prices
are temporary blips or the first signs of a new age of scarcity. Even if true scarcity hasn't
arrived yet, however, it will soon enough. According to official estimates, which might well be
exaggerated, oil will run out in 30 years to so at current usage rates.
That means that our entire society has to be re-engineered to run on some other energy source
between then and now. Accomplishing this would require major efforts and investments. Yet people
still languish in apathy and indifference.
That's why I think the current high price of oil is, paradoxically, a good thing. We are seen the
carefree attitude disappearing now. The Americans who used to buy large, extravagant cars are now
looking for more fuel-efficient models. All over the world, the high prices spur people to find new
ways both to use oil more sparingly and to look for alternatives. In the long run, this can only be
beneficial. |
24 May 2008 05:41
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