This is great news!! And, I think it will take private associations (non-government) to get the momentum going for alternative energy sources.
I was in a meeting with an 'expert' who discussed oil futures and here are some points that were made:
- Dependence is driven more by the 12 member countries of OPEC than by the US as an individual consumer. In other words, OPEC drives supply and demand; however, our government isn't well-versed in working with OPEC.
- When a country is industrialized, oil consumption increases 15 fold by historical data. The two countries presently fitting this definition is China and India at 37% of all oil consumption in the world.
-Most of the wells we discuss today were discovered in the 1960's and 70's. Oil wells typically have a production span of 40 years, so we are moving into a 'depletion' status and we deplete at a rate of about 5%/year. This is why there has been such a push for deep water drilling, new rigs, opening new waters, etc. (On another thread, the oil situation is being compared to the 'race to the moon.' I think this comparison is now spot on - if we don't discover oil on our own land, we will forever be dependent.)
-Some predict the price per barrel will push through the high of $150.
I think a consortium effort of educating consumers in newly industrialized countries would be a much needed step in the right direction to supplement a global discovery of alternative energy.
Does anyone remember the electric car and why it died?
Who Killed the Electric Car? NOW | PBS
There are many more articles regarding the electric car that can be found on the internet. Bottom line for oil is: greed - even the US Gov't.