[Vision2020] Oil Hits Historic $100 A Barrell

[Ted Moffett]

All-

Four dollar a gallon gas is possible by next year.  I wonder how high
gas prices need to go ($5 dollar a gallon?) before consumers will in
great numbers radically alter their behavior toward either driving
much less, not driving (mass transit, biking, etc.), pushing the
marketplace for widespread affordable much more efficient vehicles, or
mainstream roll out of alternative energy or technology to power
vehicles.

It seems the USA's public's addiction to a gas gorging lifestyle
indicates they are willing to pay through the nose to maintain this
system as it exists, even as fuel costs increase significantly:

http://www.iht.com/articles/2008/01/02/business/02oil-nyt.php

This article below is optimistic that high oil prices will push
alternative technology and energy development, though it also points
out that government support, not higher oil costs, for alternative
tech and energy, is also pushing investment in these options.  What is
alarming is the mention of how high oil prices may push development of
methane hydrates and oil shale (click on the articles links to other
articles).  Unless these sources are utilized with CO2 sequestration,
this will only add to the CO2 loading of the atmosphere, increasing
the risk of catastrophic climate change:

http://blog.wired.com/cars/2007/11/100-oil-will-fu.html

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Vision2020 Post: Ted Moffett