Greenspan worried about world oil supply
Posted: Wednesday, June 7th, 2006 by damnHippyTags: Energy, Obvious, Predictions
Now here's a man I trust. He doesn't say much, well I'm sure he does but we never hear it because we probably couldn't understand it. When he does speak though, it's apparent the guy knows what he's talking about. This time, he's speaking out on the urgency of our world's oil problem. In his opinion the world's oil industry simply cannot produce enough oil to meet future demand. Sure that's obvious, but he predicts that the effects of the increase in oil prices will be a trend towards less consumption and greener technologies.
It's simple, as our oil supply tightens, it gets more expensive, and alternative/renewable energy sources become relatively cheaper. At this point I think astronomical oil prices are the only thing that will get the US to change it's stance on clean energy. People vote with their wallets not with their heads, just ask Walmart. Well, don't ask them they would just ignore you, so just take my word for it.
Greenspan says: "Current oil prices over time should lower to some extent our worrisome dependence on petroleum," said Greenspan, who now runs a private consultancy. "Still higher oil prices will inevitably move vehicle transportation to hybrids, and despite the inconvenience, plug-in hybrids." [Herald Tribune]
Greenspan sounds alarm on oil supply » [Herald Tribune]
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