Keeping an Eye on Technology Futures, No Hidden Agendas, New Attitudes, No Platitudes!
Ignoring the warnings, America and the world continues to gorge itself on oil, turning isolated strips of desert into crudely conspicuous concentrations of egregious opulence. Oilman T. Boone Pickens calls this the largest transfer of wealth in human history - about $ 700B a year, four times the cost of the Iraqi war.
Those who forecast oil at $100 a barrel were ignored as pessimists, until it happened. Then the speculators got involved, pushing it to almost $150 a barrel. Now it has backed down to about $125, and the pain is 'forgotten' - till it inevitably jumps again. Expect $200-a-barrel or more within the next year, and then sighs of relief when it falls to $180. Will we never learn?
In Europe and most parts of the world, gasoline has been selling at $7-8 a gallon. But it had to top $4 in the US before Americans took notice. Suddenly, the media and the financial markets understood the notion of peak oil.
In his new video and nationwide TV advertising, billionaire oilman T. Boone Pickens explains the problem and provides a rational explanation how our oil dependency can indeed be eliminated, or at least significantly reduced. Watch the video (link below).
Here's the geopolitical conundrum that grips the US: We're now borrowing money from China to buy oil from the Middle East to consume in ways that are destroying the planet.
Al Gore made a speech in Washington last week that laid it on the line for American spirit and enterprise. He calls for America to embark upon a moon-shot style program to switch to clean, cheap, and renewable sources for 100% of the nation's electricity, within 10 years.
Of course, there was the predictable cacophony of nay-sayers - America could not possibly transform itself so quickly. Al Gore points out that America responded to President John F. Kennedy's challenge in 1961 to put a man on the moon in less than a decade.
America CAN meet the challenge!
