I've been reading and listening to energy forecasts and how we are where we are.
First, a little trivia:
In what year was the first ever recorded law enacted to conserve fuel resources? 1581
Enacted by the English Parlament to conserve the forests that were being harvested to fuel furnaces for iron and glass production.
The solution: coal
What year was the first "oil" crisis encountered in the US when a gallon of oil cost the average of 1/2 week's wage?
1853. It was whale oil that was used for oil lamps.
The solution: petroleum or as it was then known, rock oil. Petroleum is the latin translation.
I was listening to the radio interview of David Blume, a researcher and ecologist with a lot of practical ideas on energy production with alternatives.
He noted that oil prices ALWAYS drop just before an election. Sound familiar? And that they go back to their previous levels within a few months. In the '06 elections, they went right back the very next day. Expect $4-5 gas again come Feb-Mar.
He also noted that for $500B the world could build enough alcohol refineries to replace ALL oil production used in transportation.
For the first part of his interview, click here.
Listen and let me know what you think.
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