$159 a barrel by 2030 with 270 million cars in China
As gasoline prices quietly scrolled past $3 a gallon locally this week and a barrel of crude nears $100 there wasn't much to say here at greenmesh, though it's an oozing fissure in the dome of the volcanic energy crisis.
Those in the energy industry who can profit this quarter are not saying much as those who just "need" a 7-liter pickup truck to commute to work from their well heated, over-sized house. Life, aside from accelerating dollars in and out of a pockets, goes on.
The International Energy Agency in it's annual World Energy Outlook has taken a more pessimistic view over previous projections that in the past said pumping trillions of dollars into sucking oil out of the earth could meet global energy needs.
$100,000,000,000 in today's dollars could shift us to Hydrogen according to Peter Schwartz, a former futurist for Shell Oil, who is an investor in two companies developing hydrogen power technologies and Doug Randall, Global Business Network.
With that investment, the nation could shift the balance of power from foreign oil producers to US energy consumers within a decade. By 2013, a third of all new cars sold could be hydrogen-powered, 15 percent of the nation's gas stations could pump hydrogen, and the US could get more than half its energy from domestic sources, putting independence within reach.
All that's missing is a national commitment to make it happen. wired.com
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Iraq War Cost
I welcome $3 a gallon for gasoline. These small warning signs dotting the landscape are a wake-up call of what is to come. There is a price at the pump where an informed democracy will force a solution with it's tax dollars; perhaps that number is $4, $5 or $10.
Here are some projections by the IEA:
The staggering pace of Chinese and Indian economic growth in the past few years, outstripping that of all other major countries, has pushed up sharply their energy needs, a growing share of which has to be imported. Free trade means increased standard of living for developing countries. The world’s energy needs would be well over 50% higher in 2030 than today.
Oil demand for transport almost quadruples in China between 2005 and 2030, contributing more than two-thirds of the overall increase in Chinese oil demand. The vehicle fleet expands seven-fold, reaching almost 270 million. New vehicle sales in China exceed those of the United States by around 2015.
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