You may have noticed that you don’t feel completely fleeced these days after a drive through your neighborhood gas station. Gas, thanks to the world-wide recession, is at a low.
However, this is not an acquittal. It’s mostly a court recess, unless we think we will be in recession for eternity. In fact, the temporary relief in gas prices is dangerously seductive, luring some of us back to our gas guzzling ways.
I was reminded of our predicament of limited oil supplies by the headline in the latest Stanford Executive Report. According to Gilbert Masters, Stanford Professor of Civil and Environmental Engineering, Emeritus, “current oil supplies in all nations combined would last the world for only about 41 years”.
This is a startling thought. There will be new oil sources found in the future. However, there is no guarantee of when and how much.
Masters emphasizes the need to explore renewable energies and to reduce oil consumption.
The full article can be found here.