A serious oil supply crisis is looming, which could push prices above $200 a barrel, a think tank has warned.
A "supply crunch" will affect the world market within the next five to 10 years, the Chatham House report said.
While there is plenty of oil in the ground, companies and governments were failing to invest enough to ensure production, it added.
Only a collapse in demand can stave off the looming crisis, report author Professor Paul Stevens said.
"In reality, the only possibility of avoiding such a crunch appears to be if a major recession reduces demand - and even then such an outcome may only postpone the problem," he said in The Coming Oil Supply Crunch.
I'm glad people are concerned about oil and all of that, I really am. It just gets irritating reading about it constantly. So fine, the oil crisis.
The citizens of the United States love cars. Love them. I read in a book before, though, that oil wasn't always used as fuel. Unfortunately, I don't remember what was used. I do know some people wanted alcohol to be used as a fuel, but I'm pretty sure that was not what was used.
But my point is, if we didn't always use oil, it shouldn't be too difficult to get off of using it. I'm lucky enough to live in a city with a good public transportation system--I own no car. But there are many who don't have that convenience.
Look, I don't have all the answers. I do know that continuously saying "Oil is finite, it's running out, oh no," won't solve anything. A man in Texas is trying to build the world's biggest wind plant. The Three Gorges Dam, in China, is the largest hydro-electric plant in the world, and there are plans in California to make the world's largest solar energy project. The majority of France's energy comes from nuclear power plants. I won't even go into all the ways available now to "go green" since most of these things are expensive anyway.
And don't preach to me that it isn't--I tried. It is. If the items aren't, readjusting the house to accommodate the new items is (i.e. trying to put in solar panels or something). I do watch my waste consumption and recycle, but I can't afford bamboo cloth or anything like that. Find a place near where I live that sells them at a reasonable cost and I guarantee people will acquire it.
Anyway, back to what I was saying: people are trying to use less oil, but there's so much red tape and misconceptions going on with the suggestions that it's much (much) easier said than done.
Cars are going to be harder to come up and fix, but I know some companies are making fuel efficient vehicles and trying to go green as well. It's just taking time. So be patient and maybe lobby for public transportation in your areas.
As for me, I've got a train to catch.
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